Wia Gold secures $125M for Kokoseb Gold Project
Full story: https://grafa.com/en/news/australia/wia-gold-secures-125m-for-kokoseb-gold-project
-
Wia Gold secured firm commitments for a $125 million placement priced at $0.425 per share to fund its Kokoseb Gold Project development.
-
Following the announcement, the Wia Gold share price traded up 5.88% at $0.46 during the morning session.
-
The company stated that the placement, combined with a proposed US$360 million debt facility, fully funds the project to first gold production.
Wia Gold (ASX:WIA) received firm commitments to raise $125 million through an institutional placement priced at $0.425 per share to fund the development of the Kokoseb Gold Project.
The offer price represented a nil discount to the last traded price and a 2% discount to the 5-day volume-weighted average price.
"Following completion of the DFS and a 29% increase in our mineral resource, this placement, together with the proposed US$360 million Sprott debt facility and existing cash reserves, completes the funding package required to advance Kokoseb through construction and into production," said Wia Gold Managing Director and CEO Henk Diderichs.
The placement is conditional upon receiving shareholder approval at a general meeting expected to be held in late September or early October.
The company stated that first gold production is targeted for the fourth quarter of 2028.
Following the announcement, the Wia Gold share price was up at $0.46.
The company focuses on gold and base metals exploration and evaluation across West Africa and Namibia.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
