Join our daily newsletter At The Bell to receive exclusive market insights
- West Wits Mining (WWI) further progresses its early mining initiative at the Qala Shallows Project in South Africa
- The initiative is delivering on schedule with the first ore expected around February next year
- West Wits has allocated a monthly production target of 5000 tonnes to 8500 tonnes run-of-mine, building to 50,000 tonnes ore per month
- West Wits is up 6.06 per cent and trading at 3.5 cents per share
West Wits Mining (WWI) has made further progress on its early mining initiative at the Qala Shallows Project, which represents the first stage of the broader Witwaterstrand Basin Project in South Africa.
This initiative forms part of the first step in the project’s scoping study production schedule, released earlier this year.
The early mining initiative is delivering on schedule with the first ore expected around February next year.
West Wits has allocated an initial monthly production target of between 5000 and 8500 tonnes, building to 50,000 tonnes ore per month.
The Witwaterstrand Basin Project is set to yield 1.56 million ounces of gold over a 22-year mine life, with output over 18 years of this period averaging 80,000 ounces to 90,000 ounces per annum.
“The purpose of the Early Mining Initiative is to establish a mining footprint at the existing Qala Shallows, starting with the rehabilitation of the old Qala Adit box cut and decline,” Managing Director Jac van Heerden said.
“We remain on track with our set goal to extract between 5,000t and 8,500t per month starting in February 2022.”
West Wits Mining was up 6.06 per cent to 3.5 cents per share at 10:31 am AEDT.
