West Wits Mining Limited

Development drilling and survey at an underground face at Qala Shallows

Qala Shallows Project Update

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West Wits Mining (ASX: WWI) — Investor Hub

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West Wits Mining

Fully funded to steady-state production, record development rates and stoping on track to start in February 2027. Released 7 October 2026.

 The second senior debt drawdown of R236M (~A$21M) from the Absa / Nedbank facility has been received.

 1,150m of underground development completed by the end of September 2026, with a record 200m in September, up from 73m in July and building towards 600m per month in 2027.

 The haulage road is finished, and the pollution control dam and permanent ore handling facility are at advanced stages.

 Critical surface infrastructure in Q3 2027, commercial production in Q4 2027 and a steady-state rate of 70,000oz per annum in Q1 2029.

 10,000oz to 15,000oz of recovered gold in 2027, 42,500oz in 2028 and 70,000oz in 2029, with stoping from February 2027.

CEO & Managing Director Rudi Deysel talks through the Qala Shallows update: the project is now fully funded to steady-state production, development rates are building month on month, and stoping is set to start in February 2027 on the path to 70,000 ounces a year.

 to take stock of where West Wits stands today:

"It's a valuation gap, not a value gap. The ounces, the funding and the production are already there."

In this webinar, hosted by Jessica Fertig of Tau Media, Rudi Deysel explains how the project is now fully funded to steady-state production following the second R236 million (~A$21 million) senior debt drawdown. He also covers the ramp-up in underground development, including a record monthly advance of 200 m in September 2026 and access to the historic unmined stopes on 2 Level, and sets out the pathway to steady-state production.

Qala Shallows Project Update and 2027 Outlook

Your questions, answered by Rudi Deysel