Kokoseb Scoping Study Shows 11+ Years Mine Life, 180koz Annual Gold Production
Wia Gold Limited has delivered a robust Scoping Study for its Kokoseb Gold Project in Namibia, confirming strong production potential and cost efficiency. The company also secured A$30 million to accelerate exploration and development activities.
- Scoping Study confirms 11+ year mine life with ~180,000 ounces annual gold production initially
- Mineral Resource Estimate upgraded by 38% to 2.93 million ounces of gold
- A$30 million placement completed to fund accelerated exploration and permitting
- Mining License application submitted; Environmental and Social Impact Assessment progressing
- Ongoing drilling delivers consistent high-grade results; six rigs active on site
Robust Scoping Study Validates Kokoseb’s Potential
Wia Gold Limited (ASX, WIA) has taken a significant step forward in advancing its flagship Kokoseb Gold Project in Namibia, releasing a positive Scoping Study that underscores the project’s technical and commercial viability. The study outlines an initial mine life exceeding 11 years, with forecast gold production averaging approximately 180,000 ounces annually over the first five years at an all-in sustaining cost (AISC) of US$1,265 per ounce. This positions Kokoseb as a competitive gold development in the region, supported by solid economics even under conservative gold price assumptions.
The Scoping Study’s financial metrics are compelling, with a post-tax net present value (NPV) of US$646 million and an internal rate of return (IRR) of 38% at a gold price of US$2,600 per ounce. These figures improve markedly at the spot gold price of US$3,450 per ounce, boosting the post-tax NPV to US$1.27 billion and IRR to 60%, while shortening the payback period to just 15 months. Such robust returns provide a strong foundation for the upcoming Definitive Feasibility Study (DFS), expected to complete in the second half of 2026.
Resource Upgrade and Exploration Momentum
Complementing the study, Wia Gold announced a 38% increase in its Mineral Resource Estimate (MRE) for Kokoseb, now totaling 2.93 million ounces of gold, including 1.81 million ounces in the indicated category at a 0.5 g/t cut-off. This resource upgrade enhances confidence in the project’s scale and underpins the production targets outlined in the Scoping Study.
Exploration drilling remains active and productive, with six rigs currently operating on site. Recent high-grade intercepts from the Central Zone and sub-parallel shoots demonstrate the potential to expand both the open pit resource and define underground mineralisation. These results not only support resource growth but also add optionality to the project’s development pathway.
Advancing Permitting and Corporate Strength
On the regulatory front, Wia Gold has submitted its Mining License application to Namibia’s Ministry of Industries, Mines and Energy, marking a critical milestone in securing operational approvals. The Environmental and Social Impact Assessment (ESIA) is progressing well, with most specialist studies completed and a final submission targeted for early 2026. Public consultation and stakeholder engagement will follow, aligning with best practice standards.
Financially, the company bolstered its balance sheet with a A$30 million placement during the quarter, aimed at accelerating exploration, resource development, and permitting activities. With a cash position of A$52.1 million and zero debt, Wia Gold is well capitalised to execute its near-term objectives. The company also navigated a management transition, appointing Tony Bevan as interim Chief Financial Officer following the resignation of Scott Funston.
Looking Ahead
Wia Gold’s progress at Kokoseb reflects a well-structured approach to advancing a large-scale gold project in a supportive jurisdiction. The combination of a strong resource base, encouraging economics, and ongoing exploration success sets the stage for the upcoming DFS and further resource expansion. Investors will be watching closely as the company moves toward key permitting milestones and continues to refine the project’s development pathway.
Bottom Line?
With a strengthened resource and solid funding, Wia Gold is poised to unlock Kokoseb’s full potential in the coming year.
Questions in the middle?
- How will the Definitive Feasibility Study refine project economics and capital requirements?
- What impact will ongoing high-grade drilling have on extending mine life or adding underground resources?
- How swiftly will regulatory approvals progress, and what risks remain in permitting?