West Wits Mining (ASX:WWI) - Qala Shallows Breakthrough Drives 70,000 Oz Target Gold Production

Why It Matters

The breakthrough cuts development time and costs while delivering higher‑grade gold, accelerating West Wits’ path to its 70,000‑ounce target and strengthening investor confidence.

Key Takeaways

• Completed decline gives direct access to primary ore body, cutting dilution.
• New mining faces enable higher-grade ore and faster production ramp‑up.
• Equipment upgrades improve availability, utilization, and overall mine productivity.
• Accelerated start‑up shortens payback period and reduces capital requirements.
• Target of 70,000 ounces by 2028 underpins long‑term revenue growth.

Summary

West Wits Mining (ASX:WWI) announced a major operational milestone at its Qala Shallows project: the completion of a new decline that opens level‑two access to the primary ore body. This breakthrough reduces dilution, enables higher‑grade extraction, and accelerates the mine’s production ramp‑up.

The company highlighted that the new mining faces allow it to target less diluted, higher‑grade ore, improving unit economics and boosting tonnage without expanding the footprint. Recent equipment additions—new LHDs and long‑haul dump trucks—have raised equipment availability and utilization, driving overall productivity gains.

Rudy Dil noted that the first ore was hauled to surface in late October, cutting the typical three‑year development lag and shortening the project’s payback period. Daily KPI tracking of engine hours and utilization ensures the new fleet operates at peak efficiency, while the expanded infrastructure reduces capital spend on further decline development.

West Wits aims to reach 70,000 ounces of gold production by 2028, positioning the asset for steady‑state cash flow and supporting its long‑term growth narrative for shareholders.

Original Description

Interview with Rudi Deysel, Managing Director & CEO of West Wits Mining

Our previous interview: https://www.cruxinvestor.com/posts/west-wits-mining-asxwwi-delivers-first-gold-and-sets-course-on-expansion-pathway-9773

Recording date: 5th June 2026

West Wits Mining has reached a pivotal stage in the development of its Qala Shallows gold project in South Africa, marking a transition from early-stage infrastructure work to direct ore extraction. The company has successfully completed a key underground decline and broken into Level 2, enabling access to the primary ore body and setting the foundation for improved production performance.

This milestone allows the operation to shift from extracting lower-grade development ore—previously diluted by surrounding waste rock—to higher-grade stoping ore sourced directly from the reef. As stoping activities expand, gold grades are expected to progressively increase toward a target of approximately 3 grams per tonne, improving recoveries, reducing unit costs, and strengthening overall project economics.

Operational readiness has been supported by new mining equipment and an expanded fleet, enabling simultaneous work across multiple mining faces. This enhances flexibility, reduces downtime, and supports consistent production rates while reinforcing safety and operational discipline.

West Wits is also advancing a scoping study, due by the end of July 2026, to define the optimal pathway for scaling the project to a steady-state production target of 70,000 ounces per year by 2028. The study will evaluate mining methods, processing options, and infrastructure requirements, including the potential use of third-party facilities versus a standalone plant.

Financially, the company is nearing closure of a syndicated debt facility that will fund remaining capital requirements through to projected break-even, estimated within 30 months of the feasibility baseline.

Beyond Qala Shallows, West Wits is progressing exploration at its Bird Reef Central project, aiming to establish a resource from a gold-uranium target. Together, these developments position the company for multi-asset growth within the historically significant Witwatersrand Basin.

View West Wits Mining's company profile: https://www.cruxinvestor.com/companies/west-wits-mining

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