West Wits Mining has transitioned its Qala Shallows project from mobilisation to underground production, delivering first ore to surface and targeting its first gold pour in March 2026. The company has secured substantial funding to support this milestone and future growth.
- First underground ore delivered at Qala Shallows in October 2025
- US$12.5 million drawn from Nebari facility, plus A$33.74 million equity raise
- Official opening of South Africa’s first new underground gold mine in 15 years
- New Prospecting Right granted extending Kimberley Reef ore body
- Operational ramp-up includes mechanised mining and infrastructure commissioning
Operational Milestone at Qala Shallows
West Wits Mining Limited has marked a significant step forward in its transition from developer to producer at the Qala Shallows Gold Project in South Africa’s Witwatersrand Basin. During the December 2025 quarter, the company advanced from mobilisation into sustained underground development and production, delivering its first underground ore to surface in mid-October. This achievement sets the stage for the targeted first gold pour scheduled for March 2026, a key milestone for the company and the South African gold sector.
Operational momentum was further supported by the commencement of the main decline development, ramp-up of mechanised mining, and commissioning of critical infrastructure. The underground workforce has expanded to over 120 personnel, with plans to grow to approximately 1,000 at steady-state production, reflecting the scale of the operation.
Robust Funding Secures Pathway to Production
Financially, West Wits has strengthened its position through a combination of strategic debt and equity initiatives. The company drew US$12.5 million from the first tranche of a US$35 million scalable debt facility provided by Nebari Natural Resources Credit Fund II LP. This debt funding is complemented by a recent A$33.74 million institutional equity placement, anchored by a A$10 million strategic investment from Tribeca Investment Partners. Together, these funds fully finance the company through to steady-state gold production and enable advancement of growth opportunities across the Witwatersrand Basin Project.
Additionally, West Wits issued unlisted options to Absa Bank in lieu of cash fees on its senior loan facility, preserving cash and reinforcing lender alignment. This financial strategy underscores the confidence of key stakeholders in the project’s prospects.
Strategic Growth and Exploration Advances
December 2025 also saw the official opening of Qala Shallows, South Africa’s first new underground gold mine in 15 years, highlighting the project’s significance. The granting of a new Prospecting Right adjacent to the existing Mining Right extends the depth potential of the Kimberley Reef ore body, supporting future expansion.
West Wits has commissioned a review of the Kimberley Reef Mineral Resource Estimate to assess the impact of a lower cut-off grade in light of the current elevated gold price environment. This review includes data from the newly granted Prospecting Right and could materially influence the project’s resource valuation.
Meanwhile, exploration at the Mt Cecelia Project in Western Australia continues to show promise, with significant gold mineralisation identified in previous drilling. The company is evaluating options to progress this project, either through a company-led program or potential divestment, reflecting a strategic approach to portfolio management.
Looking Ahead
As West Wits enters 2026, it is focused on delivering its first gold pour, ramping up underground development, and commissioning operational infrastructure. The company plans active engagement with investors through key industry conferences to maintain market awareness and support its growth trajectory.
With operations, funding, permitting, and infrastructure aligned, West Wits is well positioned to unlock long-term value from its Witwatersrand Basin assets, marking a new chapter in South Africa’s storied gold mining history.
Bottom Line?
West Wits’ successful transition to production and robust funding set the stage for unlocking significant value in 2026 and beyond.
Questions in the middle?
- How will the Mineral Resource Estimate review impact the valuation and mine plan for Kimberley Reef?
- What are the operational risks and timelines associated with ramping up to steady-state production?
- What strategic direction will West Wits take for the Mt Cecelia Project exploration or potential divestment?