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Asia

WIA Gold Confirms 'Exceptionally Robust' Technical, Economic Viability of Namibia Project

WIA Gold (ASX:WIA) confirmed the "exceptionally robust" technical and economic viability of the Kokoseb project in Namibia with the results of its definitive feasibility study, according to a Monday filing with the Australian bourse.The study is based on a 5.3 million tonnes per year open-pit development, with studies set to start on potential plant expansion and underground development, the filing said.The company also secured indicative project financing terms for the project with Sprott Resource Lending, comprising a $360 million senior secured debt facility and a subscription of $15 million in any future equity raise, per the filing.

ASX:WIA
Asia

WIA Gold Increases Namibia Project's Mineral Resource Estimate by 29%

WIA Gold (ASX:WIA) reported a 29% increase to the mineral resource estimate (MRE ) for its Kokoseb gold project in Namibia to 3.78 million ounces of gold, comprising 113 million tonnes at 1 gram per tonne grade of gold, according to a Monday filing with the Australian bourse.The updated reading comprises an open pit MRE of 105 million tonnes at 0.96 g/t gold for 3.23 million ounces, a 10% increase from the previous estimate, as well as a maiden underground inferred MRE of 7.9 million tonnes at 2.2 g/t gold for about 560,000 ounces of gold.The company said mineralization remains open at depth along the more than five kilometers of strike extent of the Kokoseb system, showing "significant potential" for future resource growth.Six diamond rigs are operating to test the continuity and extent of mineralization at depth, it added.

ASX:WIA
Asia

WIA Gold Reports Cash Build in June Quarter

WIA Gold (ASX:WIA) ended the June quarter with no debt and a cash balance of AU$119.1 million, according to a Thursday filing with the Australian bourse.That compares with a cash balance of about AU$40.9 million as of March 31, according to a previous filing.The company said evaluation and exploration expenditure in the June quarter totaled AU$7.6 million, with no mining production and development activities conducted.A definitive feasibility study for WIA Gold's Kokoseb project in Namibia remains on track for completion in the third quarter, per the filing.The company's shares fell 1% in recent Thursday trade.

ASX:WIA
Asia

WIA Gold Finds New High-Grade Mineralized Horizon at Namibia Project; Shares Up 10%

WIA Gold (ASX:WIA) identified a new high-grade mineralized horizon beneath the Central Zone during drilling at its Kokoseb project in Namibia, according to a Monday filing with the Australian bourse.Drilling intersected nine meters at nearly 11 grams per tonne grade of gold from 811 meters, including four meters at almost 23 g/t grade of gold, and extended high-grade mineralization beyond the current open pit mineral resource estimate, the filing said.The definitive feasibility study for the project is on track for completion in the third quarter of the year, per the filing.Shares rose 10% in morning trade on Monday.

ASX:WIA
Asia

WIA Gold to Raise AU$92 Million Via Institutional Placement

WIA Gold (ASX:WIA) said it has received binding commitments to raise AU$92 million through the issue of 200 million new fully paid ordinary shares at AU$0.46 per share from new and existing institutional and sophisticated investors, according to a Wednesday Australian bourse filing.The offer price represents an 8% discount to the last traded price of AU$0.50 on May 15 and a 5.9% discount to the 10-day volume weighted average price of AU$0.489, the filing added.Proceeds will be applied primarily toward advancing the Kokoseb Gold Project, including execution readiness and early works programs and pre-production capital expenditure, with settlement expected on May 26 and allotment and quotation of new shares on May 27, it added.

ASX:WIA
Asia

WIA Gold Progresses Namibia Project Definitive Feasibility Study in March Quarter

WIA Gold (ASX:WIA) made progress with its definitive feasibility study for the Kokoseb project in Namibia during the period ended March 31, according to a Monday filing with the Australian bourse.Geotechnical testing has validated the open pit design parameters of the scoping study, and a hydrogeological assessment with a probabilistic groundwater model is being developed, the filing said.Metallurgical test work has also been completed, while detailed layouts for the process plant are underway.The study is set for completion in the second half of the year, per the filing.WIA Gold's shares fell 1% in midday trade Monday.

ASX:WIA

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