West Wits Mining Company Profile

WEST WITS MINING

Gold Producer With Operations In The Witwatersrand Basin and Pilbara. Focussing On Conglomerate Gold In Two Premier Regions.
Company Exposure

Gold

Company Listing

West Wits Mining

Stock Code

ASX:WWI

Company Overview



West Wits Mining (ASX:WWI) is progressing a strategic transformation to position itself as a mid-tier gold producer with operations in the Witwatersrand Basin and Pilbara. WWI recently revised its JORC Mineral Resource Estimate on the Witwatersrand Basin Project’s (WBP) to 3.26Moz (75% measured and indicated) and re-commenced open pit mining in mid-2017 through a government directive, delivering free cash flow and moving WBP to a self-sustaining footing.
West Wits’ acquisitions of two exploration opportunities in the Pilbara, Mt Cecelia and Tambina projects which are both part of the Lower Fortescue Group, enable the Company to leverage its extensive in-house conglomerate gold experience to expedite exploration activity in this highly prospective new conglomerate hosted gold frontier. The purchase of the Tambina project provides access to three existing mining leases, which will enable West Wits to switch to small-scale modern mining operations as it actively progresses, placing it well ahead of its peers.

INVESTMENT HIGHLIGHTS

  • Current 3.26Moz JORC Resource (2012) to 1,500m
  • 75% in measured & indicated categories
  • Rejuvenating historical 12.8Moz JORC Resource (1997) to 3,100m
  • Zero debt and ongoing production delivering free cash flow
  • Low cost open pit targets identified
  • Three mining leases granted on Tambina project
  • Leveraging the geology team’s Witwatersrand Basin experience to rapidly understand the geology of the two Pilbara assets
  • WWI is significantly undervalued especially factoring in its Witwatersrand Basin asset
ROUTE TO INCREASED PRODUCTION AND CASH-FLOW

Live Financials

Latest Announcements

Share Price Performance

DIRECTORS & MANAGEMENT

Michael Quinert – Chairman
Hulme Scholes – Non-Executive Director
Vincent Savage – Non-Executive Director
Niel Pretorius – Non-Executive Director
Dr Andrew Tunks – Executive Director
Simon Whyte – Investor Relations

MAJOR SHAREHOLDERS

DRD Gold Limited – 6.7%
Far East Capital Limited – 5.1%
Strat Plan Pty Ltd – 3.1%
Kastin Pty Ltd – 2.6%

PROJECTS – Premier Conglomerate Hosted Gold projects


Production

Witwatersrand Basin Project (WBP)(Pictured)

  • Located amongst the Worlds biggest gold deposits
  • Produced approximately 40% of all gold
Exploration

Tambina and Mt Cecilia

  • Pilbara conglomerate hosted gold projects
  • The gold rush of the 21st century
  • An exciting new province
SOUTH AFRICA – The Witwatersrand Basin

  • WBP flagship project in the Central Rand Goldfield of South Africa’s Witwatersrand Basin
  • Central Rand Goldfield has produced over 247Moz and is still producing
  • WWI’s Project:
    • Produced over 41Moz at ~5g/t from six conglomerate reefs
    • Still significant areas of virgin ground, untouched by previous mining
    • Expansive open pit opportunities

Significant JORC Resource Upside

  • Significant resource upside, historical resource of 12.8Moz (ASX:WWI) (Announcement 6 December 2017) DRD (previous owner) ceased mining operations in June 2000
  • Global Mineral Resource Estimate: 3.26Moz Au JORC 2012
  • Aim to take this above 5Moz Au in resource and over 1Moz in reserve
  • Already over 75% of Au in Measure and Indicated
  • Self-sustaining project with current operations cash-flow positive

WBP on self-sustaining footing

  • Monthly production from Kimberley Central Open Pit now averages
    • approximately 15kt ore (~1.75g/t Au)
    • cash flow A$200-250k range (net)
  • Current open pit project sufficient to sustain production for next 6 -8 months
  • Mining Right application submitted in April 2018 & expected to be granted in 1H 2019, transforming the Company
  • 17 identified targets for both open-pit and underground development

Open Pit Targets

  • Kimberley Central Open Pit was the first mining within the area since 2000
  • Two additional Mining Permits are now sought and expected to be granted in 2H 2018
  • Next opportunities
    • Main & South Central Open Pit
      • Main and South Reefs
      • High-grade basal reefs
      • 150 – 200Kt @ 5 – 7 g/t for 25,000 – 40,000oz
  • Kimberley West Open Pit

AUSTRALIA – Pilbara

  • Exposure to Australia’s 21st Century gold rush
  • Two projects within the Lower Fortescue Group and highly prospective for conglomerate hosted gold
  • Management can leverage extensive Wits’ conglomerate experience to fast track exploration

Tambina has three GRANTED mining licenses

  • Substantial exploration database acquired – drilling, geophysics and sampling
  • Mapping and sampling commenced onsite in April, identifying laterally continuous gold bearing conglomerates
  • Introduction of small scale mining being assessed

Mt Cecelia

  • Mt Cecelia project area pending granting in Q2 2018
  • Good access due to Telfer Gas pipeline
  • Exploration planning underway:
    • Detailed mapping and sampling to confirm the Hardey group and identify prospective conglomerate horizons
    • Geophysics to identify structure and locate Mt Roe Basalt equivalent

Contact Details

WEBSITE: westwitsmining.com

EMAIL: info@westwitsmining.com

PHONE: +61 3-8692-9049

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