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West Wits Mining Secures Up to 875 Million South African Rand Senior Loan Facility; Shares Up 6%

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West Wits Mining (ASX:WWI) signed a binding term sheet for a senior loan facility of up to 875 million South African rand with Absa Bank and Nedbank, through its Nedbank Corporate and Investment Banking division, according to a Thursday filing with the Australian bourse.

The facility can be drawn down from the date of fulfilment or waiver of the conditions precedent until June 30, 2028, and has a final maturity date of June 30, 2031, the filing said.

The facility replaces the previously disclosed funding arrangement with the Absa Bank and Industrial Development Corporation, and supports advancement of the Qala Shallows project, per the filing.

Shares rose 6% in morning trade Thursday.

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