West Wits secures funding for Qala Shallows
West Wits Mining received US$12.5 million for its flagship Qala Shallows Gold Project, located within South Africa’s Witwatersrand Basin.
The Company continues to make strong progress across underground operations, fleet and workforce expansion, and site infrastructure as it advances toward its first gold pour targeted for March 2026.
HIGHLIGHTS
- US$12.5 million received from Nebari Natural Resources Credit Fund II LP, marking the first drawdown under a facility of up to US$35 million, ensuring West Wits is well funded
- First underground ore delivered to surface in mid-October 2025; ore stockpiling underway ahead of processing at Sibanye-Stillwater’s Ezulwini Plant in March 2026.
- Main decline development commenced, with the first blast completed, to establish long-term mine access and support ramp-up to 70,000oz annual steady-state production.
- New underground fleet commissioned, including a 20t Dump Truck, 10t Load-Haul-Dump (LHD), Utility Vehicle (UV) and Scissor Lift Cassettes, improving haulage and material
- Additional equipment orders placed to support 2026 ramp-up, including a second double- boom drill rig (Dec-25 delivery), two dump trucks, and one LHD (due by Mar-26).
- Site team expanding rapidly, now at 103 personnel, increasing to approx 150 by March 2026 and over 1,000 in Year 3 as production scales to over 65,000 tonnes per month1,2.
- Key infrastructure milestones achieved, including completion of the Temporary Workshop and Lamproom, with further works on the Explosives Delivery Bay and Site
- On track for first gold pour in March 2026, marking the transition to production at the Qala Shallows Gold Project within the world-renowned Witwatersrand Basin.
Commenting on this progress, Rudi Deysel CEO stated:
“Qala Shallows has moved from development into delivery. With Nebari’s funding in place, new equipment operating underground, and our team continuing to grow, West Wits is executing exactly to plan.
“We’ve built strong operational momentum and a fully funded platform to achieve first gold pour in March 2026. Every milestone — from the first blast on the main decline to the commissioning of new fleet — reinforces our progress toward establishing a sustainable, high-margin gold operation in the heart of the Witwatersrand Basin.”
