WWI is embarking on a strategic transformation to be the only ASX-listed gold producer with operations in the Witwatersrand Basin and Pilbara (Mt Cecelia & Tambina).
West Wits was originally formed to explore, evaluate and extract gold and uranium from project areas located on the Central Rand Goldfield of South Africa’s Witwatersrand Basin. Historically this Project Area, known to West Wits as the Witwatersrand Basin Project (WBP), collectively produced 31 million ounces of gold over 120 years. On 16 April 2012 West Wits sold a number of its exploration leases for $9m. Currently West Wits has a 3.26 Moz JORC Mineral Resource Estimate at the WBP down to a depth of 1,500m. The Company is now developing a mine plan demonstrating the WBP can produce 100,000 ounces per annum over a 10 year mine life from surface and underground targets.
The January 2018 acquisition of the Australian Pilbara tenements enables the Company to leverage its extensive in-house conglomerate gold experience to expedite exploration activity in this highly prospective new conglomerate gold frontier to prove up a Reserve. The purchase of the Tambina project provided access to three existing Mining Leases which will enable West Wits to switch to modern scale mining operations as activity progresses, placing it well ahead of its peers.
On 28 July 2011, West Wits acquired the Derewo River Gold Project, located in the Papua Province, Indonesia. This acquisition provided entry into a high grade placer deposit based on evidence from existing artisanal operations. However the real opportunity and focus of this project will be in the exploration upside of uncovering the source of these high grade alluvial gravels.