West Wits Mining Ltd Reports Significant Operational Advances and Funding Success at Qala Shallows

West Wits Mining Ltd (ASX: WWI, OTCQB: WMWWF) has announced a series of milestones that underscore the company’s progress toward becoming a first‑production gold mine in the Witwatersrand Basin. The updates, released in a sequence of press statements and a chairman’s address, detail both financial achievements and tangible operational progress at the Qala Shallows Gold Project.

Funding Milestone

On 17 November 2025, West Wits announced a drawdown of US$12.5 million under its Nebari facility, a key source of working‑capital financing. The following day, the company confirmed that the full amount had been received, marking a critical liquidity injection that supports ongoing development activities. This capital infusion was highlighted in the company’s Operations Update and Funding Milestone at Qala, which was disseminated to the ASX on 20 November 2025.

Operational Progress at Qala Shallows

The Qala Shallows site, situated in South Africa’s renowned Witwatersrand Basin, has moved decisively from the planning phase into active execution. The company reports that it has:

  • Started blasting the main decline, initiating underground development.
  • Haul ore to the surface, establishing a preliminary ore‑handling pathway.
  • Expanded fleet and workforce, bolstering the team required for accelerated construction.
  • Upgraded site infrastructure, ensuring that essential support facilities are in place for future production.

These actions are positioned to lead to the first gold pour, which West Wits targets for March 2026. The company’s chairman, in his address at the 2025 Annual General Meeting, emphasized that FY25 “has been a transformational year for the Company—one defined by delivery, discipline, and momentum.” He noted that the strengthened balance sheet and capable leadership team now provide a firm foundation for the transition into production the following fiscal year.

Market Context

West Wits’ share price closed at AUD 0.048 on 18 November 2025, after reaching a 52‑week high of AUD 0.07 on 15 October 2025 and a 52‑week low of AUD 0.013 on 26 December 2024. With a market capitalization of approximately AUD 184 million, the company operates in the metals and mining sector, focusing on gold and uranium exploration.

Looking Forward

The combination of robust funding and tangible operational gains signals a pivotal moment for West Wits Mining. As the company moves toward the first gold pour, investors and industry observers will be watching closely to gauge how quickly the project can transition from development to production and whether it will achieve the anticipated economic performance in FY26.