Wia Gold secures binding commitments for Kokoseb gold project
Wia Gold has secured binding commitments to raise A$30 million ($19.4m) through a share placement backed by existing, sophisticated, and institutional investors.
The fresh capital will be directed mainly towards advancing the company’s flagship Kokoseb gold project in Namibia, where funds will support resource development, exploration drilling, project studies, metallurgical test work, permitting, and social and environmental programs. A portion of the proceeds will also be allocated to Wia’s wider exploration portfolio, while covering corporate expenses, working capital needs, and placement-related costs.
Placement
The placement involves the issue of 100 million new fully paid ordinary shares at A$0.30 per share, representing a 4.8% discount to Wia’s last traded price of A$0.315 on 15 August 2025 and a 2.1% discount to the ten-day volume-weighted average price of A$0.306. The new shares will rank equally with Wia’s existing ordinary shares.
Executive chairman Josef El-Raghy noted that the funding reflects investor confidence in Wia’s progress at Kokoseb, where the recently upgraded mineral resource estimate stands at 2.93 million ounces of gold, based on 89 million tonnes grading 1g/t. He added that the strong support from both domestic and international investors will enable the company to accelerate drilling to expand the deposit. The scoping study remains on track for completion this quarter, with elements of a definitive feasibility study (DFS) already underway.
Argonaut Securities acted as lead manager and bookrunner for the placement, with Tamesis Partners and SCP Resource Finance serving as co-lead managers. Following completion, Wia Gold’s cash balance will rise to approximately A$55 million, strengthening its capacity to fund ongoing growth initiatives.
