West Wits Mining (WWI)

[trackers]

Came up on a scan for low-cap companies with high NTA..

These guys have just flicked off one of their projects to Mintails Limited for a combination of share buy back, and cash.

A quick back of the envelope suggests to me that post-transaction they will have:

- 88mil shares on issue @ 5.5c = $4.85mil
- $5.5mil in cash
- Additional royalties (which can be cashed in for additional $1.5m)
- JORC resource of 307,000oz (at EV / Resource oz of $12.26/oz as per quarterly = $3,763,820)
- Interests in several permits.


Any thoughts (particular about resource worth)?

[shasta]

Came up on a scan for low-cap companies with high NTA..

These guys have just flicked off one of their projects to Mintails Limited for a combination of share buy back, and cash.

A quick back of the envelope suggests to me that post-transaction they will have:

- 88mil shares on issue @ 5.5c = $4.85mil
- $5.5mil in cash
- Additional royalties (which can be cashed in for additional $1.5m)
- JORC resource of 307,000oz (at EV / Resource oz of $12.26/oz as per quarterly = $3,763,820)
- Interests in several permits.


Any thoughts (particular about resource worth)?

I've had WWI on my <$20m market cap watchlist for a while now, when the share price was around 10c

I always liked it's Uranium potential over it's gold, but the surging gold price & lagging Uranium price has seen them change focus

How much of that 307,000/oz is inferred/indicated etc?

[trackers]

Indicated: 41k
Inferred: 266k
= 307k

Which is Emerald East plus Radiant and Marquise

Source: http://www.stocknessmonster.com/news-item?S=WWI&E=ASX&N=336835

[elZorro]

Looking at this share from the FA side:

West Wits Mining (WWI) is in the process of selling interests in some of their SA gold permits to Mintails (new deal, $9 mill in total) and $2mill is already held in escrow, due to be in their accounts any day. They have an MCap under $10mill, haven't done too well up until now. But mid last year they obtained an interest in a 40Ha mining permit in the West of New Guinea, called Derewo.

They also have EPs around this area, which is part of Indonesia now. It's steep, rainforest area, but the locals have been doing artisanal mining for gold nuggets for the last few years, and have done quite well with crude methods - some wood, spades, rope and diesel-powered water pumps.

WWI are ready to fly in there with the new-found capital and hydraulically sluice a few spots like they did in Otago years ago, for cashflow, while trying to find the nearby hardrock source of this abundant gold on their own permit. This process is under way. The other research I did can be summed up in the picture below. Outstanding resource there. The gold has not moved far, it's from a high-energy source.

http://www.google.co.nz/url?sa=t&rct=j&q=west wits fluvial papua&source=web&cd=1&ved=0CCQQFjAA&url=http%3A%2F%2Fwww.westwitsmining.com%2Fdocs%2F1 35%2F&ei=b_KVT6OOMqfGmQXN5am8Dg&usg=AFQjCNEfD6t_-ADg4v07x894I2rjvky2iA

[JBmurc]

https://westwitsmining.com/

Well Worth a study over the weekend, spoke with the MD on Friday on a few points I needed cleared up before BUYing more (which I did and plan to buy more) ....personal if they get a full mining license over all their SA permit which sounds very likely they will explode in value and most likely be taking over by one of the nearby Major Gold producers.. 14mill market value Vs 3.67moz 2012 JORC Gold resource 2g/t cutoff !!!

Now the 1997 JORC put the Gold resource at some 12.8MOz 4.6g/t --so not going take much to continue to increase 2012 JORC requirements to a much higher level ... only the only day they added 428koz to the 2012 JORC code

https://wcsecure.weblink.com.au/pdf/WWI/01999613.pdf

Michael Quinert, Chairman commented: “The Board is pleased to announce the continued growth of our
Witwatersrand Basin Project through the solid work of our geology team. The Board’s goal is to continue exploration
work to further grow WWI’s resource and obtain the two applied for mining permits in the second half of 2018. A solid
recovery in gold production from the Kimberley Central Open Pit for May-June should underpin the necessary cash flow
to continue funding project development as WWI prepares to scale up production over the balance of the year.”

Now one must remember under South African law any SA asset must be have a major holding by the Black empowerment entity ..In WWI case they have a very good group that fully funds their share of the operation (I understand it's around 32%)

[cammo]

I bought in about Xmas time. Maybe a better bet than ntl. What say you jbmurc

[JBmurc]

I bought in about Xmas time. Maybe a better bet than ntl. What say you jbmurc

I don't follow NTL so can't really comment but I'd be surprised if it has anywhere the upside...

Without a doubt, my biggest worries with WWI which was holding me back from having a bigger holding (And I sure many others as well)

Andrew Tunks WWI MD was really brilliant filling me in on the finer details making the picture much clearer


#1- was the country risk (Holding NKP had a fair share of SA Govt BS but really more so Zijin / BEE fault)

>> Most comes down to location -which is good as WWI has nil tribal issues up on the high vault ... pure GOLDFields in all directions
WWI did have issues with the last BEE pre A.T> but awhile ago had a much better BEE (also a major S/H) in WWI and unlike the last BEE they had actually funds their share 32% of the SA West wits Gold Projects..this BEE is held around 50/50 one part by a well respected Black business manager ( I think in the banking sector?) and the other 50ish held by a major legal firm in SA


#2-lower grades from monthly toll treatment - 1.7g/t(going from last ann.) sounds like the reef WWI are mining has a lower grade cover and is too much an issue from the angle of the reef to only remove the higher 3g/t reef>> but here the kicking WWI 3.5moz+ has a 2g/t cutoff rating so how much extra gold is there below the 2g/t ?? another 1moz ??

#3-Toll treatment? going forward plan>> Well with three Gold mills all in close trucking distance WWI has many options but the best would be at the Large Sibanye-Stillwater Gold plant that has 300kt per month capicity yet SS is only using just over 100kt per month
of lower grade Gold ore .. so plenty of free plant capacity .....

But like I was thinking(and the WWI MD agrees with me) Once we get the mining license 1H19 we should command a much higher Gold resource as 2007 JORC is brougt upto 2012 standard more infill drilling etc 4-5moz? then If we go too the likes of SS with potential 100,000ton of 3g/t ore per month (say 80koz GOLD) .. they will just turn around and Take us out for 200mill ...

WWI current market value 13mill personal a 10 bagger will do me

[JBmurc]

http://miningmirror.co.za/2018/10/01/west-wits-where-zama-zamas-once-thrived/

Well worth the read .... Holding a large amount of WWI Very high risk- High reward operation

[JBmurc]

been talking with the CEO during the day via Linkedin ..

. And it still just beggars belief why WWI isn't being priced at substantially higher levels-https://westwitsmining.com/

Sounds like not only will we be getting ML/MR over whole project 5-7months out but a major increase in 2012 JORC Gold resource from the K9A reef starting within next couple of months ... so should see resource heading towards 5moz 3g/t+ (still only halfway to 2003 JORC)

then with RIO looking like they have a major Copper discovery on their hands right next door to one of WWI Pilbara permits that alone could be worth much more than WWI insanely low 8.5mill market value ...

https://wcsecure.weblink.com.au/pdf/WWI/02057509.pdf

https://www.mining-journal.com/copper-news/news/1352582/road-investment-points-to-major-discovery-by-rio

https://thewest.com.au/business/spinifex/explorers-can-smell-smoke-in-paterson-province-ng-b881030223z

DISC-Certainly Buying more will hopefully be in the top 35 holders by tomorrow

[JBmurc]

Going from talking with Mgmt in FEB should be only days away from recieveing minor mining licenses >> and don't we need it with the SP bumping along at record lows for a Gold company with this size resource

[t.rexjr]

Going from talking with Mgmt in FEB should be only days away from recieveing minor mining licenses >> and don't we need it with the SP bumping along at record lows for a Gold company with this size resource

It's shut your eyes and run through the fire time.

The nervous are sweating. The Nellies jumping. Only the brave and crazy get/stay on board the train now.

I'm with crazy...

What can go wrong aye? Looks bloody cheap but SA is not Australia and the powers that be are crazier than me...

[Aotea]

been talking with the CEO during the day via Linkedin ..

. And it still just beggars belief why WWI isn't being priced at substantially higher levels-https://westwitsmining.com/

Sounds like not only will we be getting ML/MR over whole project 5-7months out but a major increase in 2012 JORC Gold resource from the K9A reef starting within next couple of months ... so should see resource heading towards 5moz 3g/t+ (still only halfway to 2003 JORC)

then with RIO looking like they have a major Copper discovery on their hands right next door to one of WWI Pilbara permits that alone could be worth much more than WWI insanely low 8.5mill market value ...

https://wcsecure.weblink.com.au/pdf/WWI/02057509.pdf

https://www.mining-journal.com/copper-news/news/1352582/road-investment-points-to-major-discovery-by-rio

https://thewest.com.au/business/spinifex/explorers-can-smell-smoke-in-paterson-province-ng-b881030223z

DISC-Certainly Buying more will hopefully be in the top 35 holders by tomorrow

JBM, why don't you buy into an NZ project at Island Block with 25,000oz in an old Clutha River channel? Less risk, and you get to touch the gold stuff....

[JBmurc]

JBM, why don't you buy into an NZ project at Island Block with 25,000oz in an old Clutha River channel? Less risk, and you get to touch the gold stuff....

Because I ain't got the spare $$$,$$$ needed to setup and run a project like that .. banks aren't all that keen to lend on Gold operations

[JBmurc]

Gold Breaking record highs in ZAR and AUD and we have little old WWI with a EV resource oz of less than $2 .... NST purchased the alaskan POGO project @ $85oz

All is on track for WWI to recieve Mining License and Mining Right over the whole 3g/t -2012 JORC 3.6moz+ (10moz+ 03 JORC) within the next 3-4 months

Historically WWI area has produced 41moz gold @ 5g/t (here in NZ we see OGC produce @ 1.3g/t in otago)

we have tax loss selling keeping the lid on the SP and the ongoing FEAR of South African politics keeping market interest next to nil

Now @ 5.5mill market value I see limited downside as even shell ASX companies can command 3mill marketcap .. WWI do have some promising Pilbara projects one close to new RIO operations

I wouldn't recommend going large into WWI as SA risks are always high ,,, but when you compare to peers and look through the finer details of ownership you have the biggest Gold producer Sibanye-Stillwater(Up 54% YOY) in SA has connections to WWI through DRD Gold (WWI largest holder)

you have WWI doing the work to keep the DMR on side to reward the company with ML/MR the legal rep WWI have employed has a very good record at getting ML/MR (its 100% last few years)

Many issues in SA is around black ownership (BEE) ... 26% was the rule but talk of a rise to 30% hurt the sector WWI already has a supportive BEE with 33.4% holding in the Project (so a great project for the SA DMR to promote to successive operations)

For sure WWI will have to raise more capital and I see this being yet another pressure on the price as a cash holding of est $400k must be mostly going to be used up pre ML/MR ... so I don't see much work on expanding the 03 JORC resources to 12 JORC or Pilbara work till WWI has MR/ML and can secure capital at much better rates

recent presentation .... more info here
https://westwitsmining.com/wp-content/uploads/2019/06/WWI-Preso_June-2019_.pdf

Disc JBMurc holding WWI av. 1.8c (planning to buy more before the months out)

[younga]

Did u manage to get some more WWi....I tried to get some at .005 but they didn't drop that low. Now at .9. I looked at the last quarter and they had sales of about 2.4 mill and it cost 2.5 mill to produce. That can't be good, can it? I'm looking at spx at the moment. Any views?

[JBmurc]

Did u manage to get some more WWi....I tried to get some at .005 but they didn't drop that low. Now at .9. I looked at the last quarter and they had sales of about 2.4 mill and it cost 2.5 mill to produce. That can't be good, can it? I'm looking at spx at the moment. Any views?

Yes they are spending many $$$ on land reparation during the mining operation which is needed to secure the Mining rights/licenses

Another development that's looking very bullish for WWI is their Pilbara project next door to RIO's new major discovery

https://www.bloomberg.com/news/articles/2019-07-14/rio-could-fast-track-key-australia-copper-find-before-u-s-asset

While the Winu find, about 350 kilometers (220 miles) southeast of Port Hedland, has excited investors and competitors -- prompting some to pour over satellite imagery to gauge the project’s potential -- more assessment is still needed, Soirat said. Additional drilling this year should allow Rio to understand “how rich the deposit is, and how big it is as well,” he told reporters.
Exploration staff are also ready to begin studying potential other targets nearby, according to Soirat. There’s potential that the Winu discovery could be part of a much a larger system that may eventually host multiple different mines, Rio’s CEO Jean-Sebastien Jacques said in May.

Could we see a multi-million J/V appear soon with a free carry for WWI ??

Just need it all to come together + Cash investment and WWI will be 10x current values pre-xmas IMHO

[JBmurc]

Just received email from MQ on more details looks very good basically WWI looking to raise upto 2.9mill AUD via convert note this Qtr

8% note 5yr life -can be exercised into WWI shares @ .007c USD !! so .01c AUD so 25% high than last traded price for this new funds WWI can use to drive ahead and get ML/MR $500k projected cost >(rehab Guarantee funds+consultants)

FAR EAST company report which backs up my BUY sentiment and I'm sure will entice investors to take up the C/N which I understand is a faster way to raise debt with fewer costs than say a rights issue >>

WWI Goal is to be producing serious Gold in 2020 first via open pits to adding underground 3Q20 and by end of 2025 having produced 250Koz+ Gold still with 5yr LOM on this first stage >80KOz+ pa

Projected net profits to WWI by 2025 = 49mill (Using $1300oz USD gold price .69c AUD ZAR-14.5)

2020 projected EPS- .25c (IMHO this would see SP around 3x higher than present giving P/E-9-10)

Longer term I see 10x-20x depending on results + Gold price

But think more likely we will see a sale of the SA assets to Sibanye-stillwater 50mill+ USD etc and a focus back on Aussie assets

[JBmurc]

Great spike from $WWI today not long till the last of the stale S/H's have exited and we see a 100% intraday move Mining Right will be the likely catalyst

[JBmurc]

$1.45mill AUD funding announced through Con Note issue .. should take care of all of the funding issues over the next year for this 7mill Market-cap Gold developer

[wizAlvin]

only 30 + hours to get your 2020 picks in .... about ONE DAY

[JBmurc]

Not long now to MR then DFS -infill drilling ... very cheap at this levels ... Hold tight and get ready for a good KICK higher soon enough>>

[JBmurc]

waiting waiting ... maybe next week in a message with CEO he believed the MR was very close to be finalised with the DMR basically rubber stamp as all issues have been meet ...

USD Gold back over 1900oz (AUD 2467oz)

https://smallcaps.com.au/west-african-gold-boom-ramps-up-bargain-hunters-continue-circling/

China on the hunt
The world’s soon to be largest economy is also on the hunt for gold bargains in West Africa and South America.

During 2020, China’s gold sector acquisitions tripled on 2019 levels. Almost 60% of China’s outbound merger and acquisition spending was in the gold sector last year, with miners investing $452 million on African and Middle East assets.

Propelling this is a softening of foreign investment regulations in emerging economies.

Meanwhile, countries such as Australia, Canada and US have heightened their scrutiny of Chinese investments.

An unnamed banker in Johannesburg told Reuters in March Chinese buyers were “aggressively” pursuing gold deals in Africa.

[JBmurc]

Another update >>>>Mining Right Application Update
West Wits Mining (ASX: WWI, “West Wits” or “the Company”) provides the following update with regards to the
progress of the appeals process and mining right application for the Witwatersrand Basin Project (“WBP”) in
South Africa.
The Company has received an update from the Department of Mineral Resources and Energy (“DMRE”)
concerning the WBP Mining Right application. The DMRE advised that the documents in relation to the
application are in good order and that its officers are busy processing the application. Further, in light of this
progress the DMRE has indicated that it needs nothing more from the Company to complete processing of the
application.
West Wits Chairman, Michael Quinert commented, “This final leg of the Mining Right application has been
slower than expected and at times difficult to monitor. We therefore welcome this written confirmation from
the department that the documentation is all in good order. Perhaps most importantly, the DMRE have
indicated they require nothing further from us to complete the process. Whilst we will continue to press our
cause carefully and prudently, we are confident this advice from the DMRE suggests the matter is now nearing a
positive outcome. Our team, led by Jac van Heerden, are in a state of high readiness to commence operations in
earnest as soon as the Mining Right is granted.”

[JBmurc]

Another update >>>>Mining Right Application Update
West Wits Mining (ASX: WWI, “West Wits” or “the Company”) provides the following update with regards to the
progress of the appeals process and mining right application for the Witwatersrand Basin Project (“WBP”) in
South Africa.
The Company has received an update from the Department of Mineral Resources and Energy (“DMRE”)
concerning the WBP Mining Right application. The DMRE advised that the documents in relation to the
application are in good order and that its officers are busy processing the application. Further, in light of this
progress the DMRE has indicated that it needs nothing more from the Company to complete processing of the
application.
West Wits Chairman, Michael Quinert commented, “This final leg of the Mining Right application has been
slower than expected and at times difficult to monitor. We therefore welcome this written confirmation from
the department that the documentation is all in good order. Perhaps most importantly, the DMRE have
indicated they require nothing further from us to complete the process. Whilst we will continue to press our
cause carefully and prudently, we are confident this advice from the DMRE suggests the matter is now nearing a
positive outcome. Our team, led by Jac van Heerden, are in a state of high readiness to commence operations in
earnest as soon as the Mining Right is granted.”

[t.rexjr]

Infill drilling results should be ready to drop soon after as well. Been a test of patience but this one but its all coming together...

[JBmurc]

https://themarketherald.com.au/west-wits-mining-asxwwi-bumps-up-resource-estimate-for-south-african-project-2021-07-05/?utm_content=buffer7ff2c&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer+-+themarketherald

[arekaywhy]

https://themarketherald.com.au/west-wits-mining-asxwwi-bumps-up-resource-estimate-for-south-african-project-2021-07-05/?utm_content=buffer7ff2c&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer+-+themarketherald


people didn't like it? thought this would give it a bump

[JBmurc]

people didn't like it? thought this would give it a bump

Gold pulled back after this ann. didn't help along with the market sick of waiting for the MR we WWI holders have been holding out for years >>

[JBmurc]

people didn't like it? thought this would give it a bump

Gold pulled back after this ann. didn't help along with the market sick of waiting for the MR we WWI holders have been holding out for years >>

[JBmurc]

West Wits Chairman, Michael Quinert commented, “The Department’s decision to grant West Wits’ Mining
Right is a pivotal milestone for the Company which heralds in the development of WWI’s marque Witwatersrand
Basin Project. The granting is a testament to the quality and thoroughness of the engagement process undertaken
by our lawyers, specialist consultants and the executive team led by Managing Director, Jac van Heerden, and
comes at a critical time with the independent Definitive Feasibility Study on the Qala Shallows nearing completion.
The WWI Team continues to ramp up development activity and is focused on project execution in the 2nd half of
2021 as it targets maiden underground gold production

[yabster]

Mining licence granted- not exactly put a rocket ship under the share price though? dipped my toe in @ 9.1

[yabster]

Mining licence granted- not exactly put a rocket ship under the share price though? dipped my toe in @ 9.1

[JBmurc]

Mining licence granted- not exactly put a rocket ship under the share price though? dipped my toe in @ 9.1

Yes very unimpressive seems the go these days LRS announced massive JORC SP gets smashed ... POD same great drill results SP drops near on 50% next few weeks but I do see today they have surged 31% today on NO news ?? .. we live in interesting times where good ann's some times equal Holders selling thinking the top is in ???

MR has been a Goal for so long for WWI ... had we got it during the more Bullish months not long after EA update where we seen 15c hit ...then I think the SP would have done much better ... its like the Spec money has run away and traders hoping for easy bags on MR are now selling in disgust thinking this is all WWI will run >>

IMHO MR was a major step forward and de-risk DFS out next month >> spoke briefly with MQ -Chairman- sounds like they have had many offers of funding already on the table ... one would think MR + DFS we might well see predators come forward J/V or T/O

[JBmurc]

Mining licence granted- not exactly put a rocket ship under the share price though? dipped my toe in @ 9.1

Yes very unimpressive seems the go these days LRS announced massive JORC SP gets smashed ... POD same great drill results SP drops near on 50% next few weeks but I do see today they have surged 31% today on NO news ?? .. we live in interesting times where good ann's some times equal Holders selling thinking the top is in ???

MR has been a Goal for so long for WWI ... had we got it during the more Bullish months not long after EA update where we seen 15c hit ...then I think the SP would have done much better ... its like the Spec money has run away and traders hoping for easy bags on MR are now selling in disgust thinking this is all WWI will run >>

IMHO MR was a major step forward and de-risk DFS out next month >> spoke briefly with MQ -Chairman- sounds like they have had many offers of funding already on the table ... one would think MR + DFS we might well see predators come forward J/V or T/O

[FTG]

Beautiful upgrades to the estimates made this morning. :)

Makes taking up the rights at 3c more compelling...

[JBmurc]

Beautiful upgrades to the estimates made this morning. :)

Makes taking up the rights at 3c more compelling...

And 10mill RIO JV in AUS another bonus ....too bad the sector is well out of favour once again ...

best info I come across on WWI is at their linkedin page ---- https://www.linkedin.com/company/west-wits-mining/posts/?feedView=all

[freebee]

And 10mill RIO JV in AUS another bonus ....too bad the sector is well out of favour once again ...

best info I come across on WWI is at their linkedin page ---- https://www.linkedin.com/company/west-wits-mining/posts/?feedView=all


I think (hope)2022 is going to be great for us WWI shareholders. We know the golds in the ground and its not long now before first gold pour. As you say JB the goldies are getting hammered at mo but If the gold price rises back up next year this could rocket imo
Disc: been in and out from 0.7c to 15c and back down to 3c now. Holding a decent parcel now to see what happens in next 6 months.

ASX Announcement and Media Release
15 December 2021
page i
ASX Announcement and Media Release
Wednesday, 15 December 2021
Early Mining Initiative at West Wits’ Qala Shallows on track
HIGHLIGHTS
➢ Stage 1 Qala Shallows on track for early production in February 2022
➢ Key site infrastructure completed; including diesel and power supply, potable and service
water, security fences and offices
➢ Qala Adit box cut construction and rehabilitation, brow and adit support nearing
completion
➢ Qala Shallows secondary access, 12E Winze Shaft, rehabilitation for early access
completed allowing sampling and surveying of extended areas of underground workings
➢ Decline production equipment delivered and commissioned, including 10-tonne Load-
Haul & Dump, Twin Boom Drill Rig and Utility Vehicle
Commenting on the Early Mining Initiative, West Wits Managing Director Jac van Heerden said: “The
purpose of the Early Mining Initiative is to establish a mining footprint at the existing Qala Shallows,
starting with the rehabilitation of the old Qala Adit box cut and decline. We remain on track with our
set goal to extract between 5,000t and 8,500t per month starting in February 2022.”

[JBmurc]

I think (hope)2022 is going to be great for us WWI shareholders. We know the golds in the ground and its not long now before first gold pour. As you say JB the goldies are getting hammered at mo but If the gold price rises back up next year this could rocket imo
Disc: been in and out from 0.7c to 15c and back down to 3c now. Holding a decent parcel now to see what happens in next 6 months.

ASX Announcement and Media Release
15 December 2021
page i
ASX Announcement and Media Release
Wednesday, 15 December 2021
Early Mining Initiative at West Wits’ Qala Shallows on track
HIGHLIGHTS
➢ Stage 1 Qala Shallows on track for early production in February 2022
➢ Key site infrastructure completed; including diesel and power supply, potable and service
water, security fences and offices
➢ Qala Adit box cut construction and rehabilitation, brow and adit support nearing
completion
➢ Qala Shallows secondary access, 12E Winze Shaft, rehabilitation for early access
completed allowing sampling and surveying of extended areas of underground workings
➢ Decline production equipment delivered and commissioned, including 10-tonne Load-
Haul & Dump, Twin Boom Drill Rig and Utility Vehicle
Commenting on the Early Mining Initiative, West Wits Managing Director Jac van Heerden said: “The
purpose of the Early Mining Initiative is to establish a mining footprint at the existing Qala Shallows,
starting with the rehabilitation of the old Qala Adit box cut and decline. We remain on track with our
set goal to extract between 5,000t and 8,500t per month starting in February 2022.”

Yes great time to BUY ...Xmas sale going on ... WWI will be well funded and I've heard even a Listing on a North American exchange much interest from that part of the world in WWI ...just look at are Largest S/H based in USA ... 2022 could well be the year it all comes together for WWI and we see it above and stay above 10c

I'm personally holding only small 500k holding ...planning to take that much higher if one of my O&G plays can kick on