West Wits was originally formed to explore, evaluate and extract gold and uranium from project areas located on the Central Rand Goldfield of South Africa’s prolific Witwatersrand Basin. Historically this Project Area, known to West Wits as the Witwatersrand Basin Project (WBP), collectively produced 31 million ounces of gold over 120 years.
Currently West Wits has a 4.37Moz Au JORC Mineral Resource Estimate at the WBP down to a depth of 1,500m. The Company’s development strategy aims to produce 60,000oz Au per annum over 15-year plus life of mine with first production in 2021. West Wits has commenced a BFS on the WBP’s Qala Shallows mine target after completing a scoping study over the entire tenement area which identified five distinct mine targets for staged development.
Additionally, the Company is targeting gold, VMS and Manganese at its 100% owned Mt Cecelia Project located within the highly prospective East Pilbara and Paterson Province region of Western Australia. Results from a SkyTEM Helicopter Electro-magnetic (HEM) survey completed in 4Q 2020 have identified eight priority targets which will be followed up in the 2021 field season. The location of the Mt Cecelia Project highlights its prospectivity, sitting adjacent to multiple Rio Tinto tenements in the Paterson Province and is 70km west of RIO’s WINU Project.
A snapshot of the stocks on the move, featuring QX Resources (ASX:QXR), Antisense Therapeutics (ASX:ANP) and West Wits Mining (ASX:WWI).
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A snapshot of the stocks on the move, featuring QX Resources (ASX:QXR), Antisense Therapeutics (ASX:ANP) and West Wits Mining (ASX:WWI).
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Jac van Heerden – Managing Director - West Wits aims to explore, evaluate and extract gold & uranium from project areas located on the Central Rand Goldfield of South Africa’s prolific Witwatersrand Basin.
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DOWNLOAD RESEARCH REPORTSecures binding contract with Tier-1 OEMUS based anode active project gathers momentumMagnis Energy Technologies (MNS.ASX) – MNS is planning an anode active facility in the US and recently announced a binding, yet conditional, contract for the supply of anode active with Tesla. The contract is for a minimum 17.5kt/year with an option to purchase another 17.5t/year. Conditions precedent carry a tight development timeframe, with first production scheduled for February 2025. Site selection is underway and co-locating with an OEM on a brownfields site makes sense. Long lead items have been ordered and detailed engineering and design is expected to commence soon. |
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Promising exploration and development update while SOP prices continue to riseTwo recent gravity surveys have considerably exceeded expectations and revealed potential for extensions to the existing MRE at Lake Throssell, plus a material growth opportunity at Lake Yeo. This reinforces the potential for a multi-decade, Tier-1 SOP production hub based around Lake Throssell. TMG is currently completing work towards the PFS due early 2023, including drilling to start in Q3 2022, evaporation trials and permitting activities. Results from these programs will support the PFS and any future resource upgrade. Benchmark SOP prices have risen to ~US$940/t due to recent geopolitical developments. The Oct 2021 Scoping Study assumed a SOP price of US$550/t and contained a sensitivity analysis showing every 10% increase in price drives a +$144m increase in the project NPV of $364m. The c.70% increase above the Scoping Study thus implies a project NPV of ~$1.4bn. |
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