Brief: West Wits Mining Says West Wits Obtains Interest From IDC For Debt Facility

West Wits Mining

11/07/2023 09:25

July 11 (Reuters) - West Wits Mining Ltd  WWI.AX :
    * WEST WITS OBTAINS INTEREST FROM IDC FOR DEBT FACILITY
    * INDUSTRIAL DEVELOPMENT CORPORATION OF SOUTH AFRICA
EXPRESSES
INTEREST IN PROVIDING DEBT FACILITY OF US$15.9 MILLION
    * COLLABORATION BETWEEN WEST WITS AND IDC AIMS TO EXPEDITE
DUE
DILIGENCE PROCESS
    * DEBT FACILITY FOR DEVELOPMENT CAPITAL AT WEST WITS' QALA
SHALLOW
PROJECT
    * INITIAL FUNDS BE UTILISED FOR MOBILISING MINING CONTRACTOR
&
ACQUIRING ESSENTIAL EQUIPMENT TO INITIATE OPERATIONS
    * WITHIN SIX TO EIGHT MONTHS FROM COMMENCEMENT OF
PRODUCTION,
PROJECT WILL GENERATE REVENUES FROM GOLD PRODUCTION
    * MOVE WILL ENABLE WEST WITS TO ESTABLISH  30,000-TONNE ORE
STOCKPILE WITH STEADY DELIVERY OF 15 KTPM TO SIBANYE-
STILLWATER'S PLANT
    * AT QALA SHALLOWS, SEES GRADUAL MINE BUILD-UP TOWARDS A
STEADY-STATE PRODUCTION OF 5,000 OUNCES OF GOLD PER MONTH

Source text for Eikon:  ID:nASX6TQwgN 
Further company coverage:  WWI.AX 

 ((Reuters.Briefs@thomsonreuters.com;))