Wia Gold’s Leadership Shift Raises Questions on Kokoseb Development Risks

Leadership Transition Marks New Phase for Wia Gold

Wia Gold Limited has announced the appointment of Henk Diederichs as its new Managing Director and Chief Executive Officer, effective 1 February 2026. This leadership change comes at a pivotal moment as the company accelerates development of its flagship Kokoseb Gold Project in Namibia. Executive Chairman Josef El-Raghy will transition to the role of Non-Executive Chairman, allowing the board to focus on governance while Diederichs leads operational execution.

A Proven Track Record in African Mining

Mr Diederichs brings over two decades of experience in mining project development and operations, with a strong focus on African jurisdictions. His previous roles include Chief Operating Officer at Predictive Discovery Limited, where he helped advance the Bankan Gold Project in Guinea, and Managing Director and CEO of OreCorp Limited, overseeing the Nyanzaga Gold Project in Tanzania until its acquisition by Perseus Mining. Notably, he played a key leadership role in the development of the Lumwana Copper Mine in Zambia, one of Africa’s largest open-pit copper mines, which was later acquired by Barrick Gold for US$7 billion.

Kokoseb Project Poised for Growth

The Kokoseb Gold Project, located in north-west Namibia, is progressing toward a Definitive Feasibility Study (DFS) targeted for completion in the second half of 2026. The project sits within the Okombahe exploration licence, held under a joint venture with the state-owned mining company Epangelo. Wia holds an 80% interest in the licence, which forms part of the larger Damaran Project encompassing over 2,700 square kilometres. An updated Mineral Resource Estimate announced in July 2025 reported 2.93 million ounces of gold at a 0.5 grams per tonne cut-off, including a higher-grade portion of 2.07 million ounces at 1.4 grams per tonne.

Incentivising Success Through Performance Rights

Wia has structured Mr Diederichs’ remuneration to align closely with the company’s development milestones. His executive services agreement includes a base salary of $400,000 per annum and a substantial long-term incentive package of 10 million performance rights. These rights vest upon achieving key targets such as share price thresholds, receipt of mining and environmental licenses, and securing commercial financing for Kokoseb’s development. This approach underscores the company’s commitment to delivering tangible progress and shareholder value.

Strategic Implications for Wia Gold

The appointment of a seasoned executive with deep African mining expertise signals Wia’s clear intent to transition from exploration to development. With Kokoseb advancing through the DFS phase and a leadership team focused on operational delivery, the company is positioning itself to unlock significant value from its Namibian assets. Investors will be watching closely for updates on licensing, financing, and construction milestones as Wia moves closer to production.