Wia Gold’s A$30m Placement Signals Urgency Amid Kokoseb Development
Wia Gold Limited has raised A$30 million through a placement to fund accelerated exploration and development at its Kokoseb gold project in Namibia, bolstering its cash position to approximately A$55 million.
- A$30 million placement at $0.30 per share secured
- Strong backing from domestic and offshore institutional investors
- Funds earmarked for accelerated resource development and feasibility studies
- New shares to commence trading on 27 August 2025
- Post-placement cash balance expected to reach about A$55 million
Placement Details and Investor Support
Wia Gold Limited (ASX – WIA) has successfully secured firm commitments for a A$30 million placement priced at $0.30 per share. The placement attracted strong interest from both domestic and offshore institutional and sophisticated investors, reflecting confidence in the company’s strategy and the potential of its flagship Kokoseb gold project in Namibia.
The new shares, totaling 100 million, will rank equally with existing shares and are set to begin trading on 27 August 2025. The offer price represents a modest discount to recent trading prices, a common feature designed to incentivize investor participation in capital raises.
Strategic Use of Funds
The proceeds from the placement will underpin an accelerated exploration and resource development program at Kokoseb. This includes ongoing studies and testwork aimed at advancing the project towards the completion of a Definitive Feasibility Study (DFS), which remains on track for delivery within the current quarter.
Additionally, funds will support permitting processes, social and environmental initiatives, and corporate working capital requirements. The company’s Executive Chairman, Josef El-Raghy, highlighted the recent upgrade of the Mineral Resource Estimate to 2.93 million ounces of gold as a key milestone that underpins the rationale for this capital injection.
Broader Project Context and Financial Position
Kokoseb sits within the Damaran Project, a large landholding in central Namibia secured through a joint venture with the state-owned mining company Epangelo. The project’s location on the Damara belt is geologically significant, offering promising exploration upside.
Following the placement, Wia Gold expects to hold approximately A$55 million in cash, providing a solid financial foundation to advance its exploration ambitions and maintain operational flexibility. The involvement of Argonaut Securities as lead manager, alongside co-lead managers Tamesis Partners and SCP Resource Finance, underscores the institutional support behind the raise.
Looking Ahead
With the capital raise complete, Wia Gold is positioned to accelerate its exploration timeline and move closer to unlocking the value of Kokoseb. The upcoming months will be critical as the company progresses its feasibility studies and navigates permitting and environmental requirements, all essential steps toward potential development.
Bottom Line?
Wia Gold’s fresh capital injection sets the stage for a pivotal phase at Kokoseb, with market eyes now on upcoming feasibility milestones and exploration results.
Questions in the middle?
- How will the accelerated exploration program impact the timeline for Kokoseb’s development?
- What are the detailed plans and expected outcomes of the ongoing feasibility studies?
- How might the modest discount on placement shares influence investor sentiment and share price post-placement?
