West Wits Mining Limited WWI
ASX · Australia · Non-Energy Minerals
AUD 0.3950+0.01 (+2.60%)
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Market open· · AUD · Data may be delayed
Prices may be delayed and are for informational purposes only - not investment advice.
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West Wits Mining Limited Non-Executive Director Warwick Grigor talked with Kerry Stevenson from Proactive the ASX Small and Mid-Cap Conference about the company’s rapidly expanding gold resource base and near-term production outlook in South Africa. Grigor highlighted a significant upgrade to the company’s resource, noting that it has grown to 7.2 million ounces, with further upside potential at depth. He explained that “we've just increased our resource base by 2,000,000oz… we've gone from a bit over 5 to 7.2 million ounces,” adding that deeper exploration could potentially double that figure
STORY: This is South Africa's first new underground gold mine in 15 years. It's a sign of how a surge in gold prices has made previously uneconomical deposits potentially viable. The Qala Shallows project is located on the western fringe of Johannesburg, in the legendary Witwatersrand basin. West Wits mining CEO Rudi Deysel said increasing gold prices meant the mine made "very good" economical sense. "The Witwatersrand basin produced 40 percent of all gold produced in the world to date. So, that’s a huge number. Geologically, we understand this ore body probably better than any other ore body
In today's Just The Facts.. West Wits Mining has been granted a new prospecting right in South Africa, next to its Witwatersrand Basin Project. The tenement extends depth potential at the Qala Shallows gold project, with modelling now underway to assess the Kimberley Reef. Energy Transition Minerals has appointed New York-based Cohen & Company as exclusive US advisor as it explores pathways to US capital markets, including a possible Nasdaq listing. Options being reviewed include a dual listing or a potential SPAC merger. Weebit Nano has licensed its ReRAM memory technology to Texas Instrument
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