TWO EXTRACTS FROM TWO ARTICLES TODAY!CHECK OUT OUR GOLD GRADESSSSSSS!West Wits Mining (ASX:WWI)Stepping out of Australia, West Wits already possesses a sizeable resource of
4.28Moz grading 4.58g/t gold at its Witwatersrand project in South Africa and has plans to achieve first gold pour during the fourth quarter of 2023.
The company is currently updating its DFS with new information gained from underground survey works, optimisations of the mine plan and updated market assumptions and expects to deliver the results in July.
Its current Qala Shallows DFS already outlines an attractive underground development with estimated pre-tax Net Present Value and Internal Rate of Return, both measures of profitability, at US$180m and 38% respectively using a gold price of US$1,750/oz and an exchange rate of ZAR15/USD.
Further resource growth is also a clear possibility given that the company has received Environmental Authorisation approval from South Africa’s Department of Mineral Resources & Energy for the prospecting right following completion of the 30-day community consultation period.
This will reintroduce areas reported under the project’s previous Prospecting Rights which were removed upon granting of the Mining Right which has a reduced tenement footprint.
West Wits Mining (ASX:WWI)Location: South Africa
Market Cap: $24.67mWWI’s Witwatersrand Basin Project (WBP) is in the Central Rand Goldfield in South Africa and boasts a
4.28Moz gold at 4.58g/t. The company’s Phase 1 Qala Shallows’ Definitive Feasibility Study (DFS) supports an underground mining operation with a robust rate of 3.2MT at 2.81g/t recovered grade for total production 680,000oz Au over a 17-year Life-of-Mine.
It is set at an average Steady-State production of 55,000oz per annum for 10 years at an AISC of US$962/oz.
But a DFS update is in the works, including new information gained from underground survey works, optimisations of the mine plan and updated market assumptions – with results expected in July.
As an added bonus, the project’s shallow deposit ranges from 50-800m below surface, unlike the average of other projects in SA being up to 2,000m below surface.
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