West Wits Mining Ltd. has provided an update on the development progress at its Qala Shallows gold project in South Africa’s Witwatersrand Basin, with the project reaching full funding status following the receipt of a second senior debt drawdown.
The company received a R236 million (AU$21 million) disbursement from its senior debt facility with Absa and Nedbank after completing cost-to-complete and covenant testing.
The funding milestone fully de-risks the project’s path to steady-state production, bringing total drawdowns to R575 million (AU$50 million), with R300 million (AU$26 million) remaining available.
Meanwhile, the company said underground operations reached a record monthly advance of 200 metres in September, bringing total underground development to 1,150 metres.
Development rates have almost tripled since July as the company ramps up towards a monthly target of 600 metres in 2027.
The project remains on track for key development milestones, with critical surface infrastructure, currently 61 per cent complete, scheduled for completion in the September quarter of 2027.
Commercial production is targeted for the December quarter of 2027, ramping up to a steady-state production rate of 70,000 ounces per annum by early 2029.
West Wits CEO Rudi Deysel said the company has advanced the core operational pillars required to drive output.
“We have advanced the three things that will drive production at Qala Shallows: underground access, surface infrastructure and funding,” Deysel said.
“With the second senior debt drawdown received, the project is fully funded to steady-state production, and our development rates are building month on month.”
Primary production from stoping is scheduled to commence in February 2027, with annual recovered gold output forecast between 10,000 and 15,000 ounces in 2027, expanding to 42,500 ounces in 2028. Total workforce numbers on site have grown to 507 personnel to support the expanded operational footprint.
The company is also finalising the commissioning of the exploration program for the Bird Reef Central uranium and gold project.
