West Wits maps its path to gold production with $20M drawdown - Mining.com.au

AI desk brief

West Wits Mining said it has secured a second $20 million drawdown backed by two major banks as it advances the Qala Shallows gold project in South Africa. Management is targeting more commercial production next year and steady-state output in 2028-29.

The company said the project’s economics imply an 8-9 month payback at a gold price of US$2,850/oz and all-in sustaining costs of about US$1,289/oz. That leaves a wide gross margin at current assumptions, making the financing and ramp-up progress supportive for future gold supply growth if execution holds.