The Derewo River Gold project is situated on the Derewo River within the central mountains of the Papua Province, Indonesia. The project is located approximately 110km north west of Freeport McMoRan’s Grasberg complex. This is a promising placer gold project based on evidence from existing artisanal operations, but the real opportunity and focus of this project is in the potential of discovery of the primary source of nuggets being found.
The recent strategic review resulted in increasing WWI’s alliance with local Indonesia Partners who have extensive experience in delivering outcomes in Indonesia’s complex regulatory & political environment. This move has also reduced West Wits’ on-going capital requirements to an immaterial level yet maintaining upside exposure for the Company to this high-grade placer deposit.