Wia Gold Advances Kokoseb DFS, Secures A$45.8M Cash, Divests Côte d’Ivoire Assets

Definitive Feasibility Study Advances

Wia Gold Limited (ASX – WIA) has reported steady progress on its flagship Kokoseb Gold Project in Namibia, with the Definitive Feasibility Study (DFS) on track for completion in the second half of 2026. This follows the completion of a promising Scoping Study in September 2025, which outlined a robust project with a 2.93 million ounce gold resource and attractive economics.

The DFS phase is seeing multiple technical workstreams advance simultaneously, including geotechnical drilling, metallurgical testwork, and process plant design. Notably, six drilling rigs are actively engaged on site, focusing on resource conversion and expansion, with recent high-grade intercepts reinforcing the potential for future underground mining operations.

Strategic Focus on Namibia

In a decisive strategic move, Wia Gold divested its non-core Côte d’Ivoire exploration assets in November 2025 to ASX-listed Santa Fe Minerals Limited. This transaction, which includes the transfer of an 80% interest in several permits, allows Wia to concentrate its resources and management attention solely on the Kokoseb project and the broader Damara Belt in Namibia.

The divestment is expected to complete in the March 2026 quarter, with Wia receiving shares and performance rights in Santa Fe, maintaining some exposure to Côte d’Ivoire’s upside while streamlining its operational focus.

Regulatory and Infrastructure Progress

Wia submitted its Mining Licence Application to Namibia’s Ministry of Industry, Mines & Energy in October 2025, a critical step towards project development. Concurrently, environmental and social impact assessments are nearing completion, with final stakeholder reviews scheduled early this year and regulatory submissions anticipated shortly thereafter.

Infrastructure planning is well underway, including water supply investigations, power supply studies with NamPower, and process plant design by Senet, a DRA subsidiary. These foundational elements are essential to de-risking the project ahead of construction and production phases.

Leadership Transition

Reflecting its evolving stage, Wia appointed seasoned mining executive Henk Diederichs as Managing Director and CEO effective 1 February 2026. This leadership change coincides with Executive Chairman Josef El-Raghy transitioning to Non-Executive Chairman, signalling a governance shift aligned with advancing Kokoseb towards production.

Financial Position and Outlook

At the end of December 2025, Wia held a strong cash position of A$45.84 million with zero debt, providing a solid financial foundation to fund ongoing DFS activities and exploration. The company reported A$6.2 million in exploration expenditure during the quarter, underscoring its commitment to resource growth and project advancement.

The Kokoseb Scoping Study highlighted compelling project economics, with a post-tax net present value (NPV) of US$646 million at a conservative gold price of US$2,600 per ounce, and an internal rate of return (IRR) of 38%. At the then-prevailing spot price of US$3,450 per ounce, these metrics improve dramatically, suggesting significant upside potential.