West Wits Mining Ltd

West Wits Mining Limited (ASX: WWI | OTCQB: WMWWF) is a gold and base metals company advancing the exploration, development and production of high-value assets that deliver shared value for shareholders, communities and the environments in which it operates.

The Company’s flagship Witwatersrand Basin Project (WBP) is located in South Africa’s Central Rand Goldfield, the world’s largest known gold province, which has produced over 1.5 billion ounces to date. The WBP hosts a 5.025Moz gold project at 4.66g/t, with Phase 1 Qala Shallows containing an Ore Reserve of 4.6Mt at 2.60g/t for 384,000oz (37% of mining inventory). The July 2025 DFS confirmed a post-tax NPV7.5 of US$500M and an IRR of 81%, positioning Qala Shallows as a low-cost, long-life operation. The broader WBP presents a US$2.7B revenue opportunity, with Qala Shallows forecast to produce 924,000oz over an 18-year LoM, covering 60% of the Scoping Study area.

FY25 marked major financial progress, securing capital to accelerate development:
- ZAR 875M (~USD 50M) senior syndicated loan facility executed with IDC and Absa Bank
- US$12.5M Nebari Loan Facility, part of a scalable US$35M package (fully drawn)
- A$12.8M cash balance (31 Oct 2025)
- Two equity raises: A$14M (June 2025) and A$17.5M post-year-end, strengthening institutional support
- Increased project ownership to 74% via a 10% buy-back for US$5M, simplifying the structure and enhancing exposure to a long-life asset.

West Wits now has a clear funding pathway to first gold and aims to ramp up to a steady-state production profile of ~70,000oz per annum.

Management Profile

Michael Quinert, Chairman

Mr Quinert is a founding partner of QR Lawyers which was established in July 2009. He has over 35-years’ experience as a commercial and corporate lawyer, including three years with ASX and over 30 years as a partner in a Melbourne law firm.

Mr Quinert has extensive experience assisting and advising companies on IPOs, capital raising, cross border transactions, regulatory compliance and has regularly advised publicly listed mining companies.

Michael is a Non-Executive Director of publicly listed First Graphene Limited ASX:FGR))

Rudi Deysel, Chief Executive Officer

Mr Deysel holds degrees in B.Sc (Geophysics) and B.Eng (Mining) and has obtained his MBA.

He has extensive production experience in conventional narrow tabular underground, as well as open cast, mining various commodities including Gold, PGMs, Copper and Cobalt. Mr Deysel project managed several brown- and greenfield mining projects in South Africa, the DRC and Ghana, which led to extensive experience in mine development, including scoping-, pre-feasibility, feasibility, development and execution.

Before joining West Wits, Rudi was part of line management at Anglo American, after which he joined Murray-and-Roberts Cementation with the main focus on underground mine infrastructure, construction and contracting. Through ERG Africa, his technical input established strong management operating systems at its various operations in Africa. At Asanko Gold, he was part of a senior management team that facilitated strong technical and financial principles at their Ghanian operation.

What are your key goals for the next 3, 6 and 12 months?

3 Months:

• Lock in execution discipline as funding converts into on-the-ground progress.
• Drive underground development and accelerate stockpile build.
• Align all workstreams to hit the March 2026 first-gold deadline.

6 Months:

• Push toward the 30,000-tonne stockpile target.
• Fully deploy the expanded underground fleet to lift production capacity.
• Advance Project 200 feasibility toward decision-ready status.
• Progress uranium resource conversion to strengthen future value.

12 Months:

• Optimise mining, processing, and infrastructure performance for sustained throughout.
• Sharpen cost discipline, ESG performance and operational risk control.
• Leverage first gold to expand the international investor base.

What do you think makes your company such a compelling investment?

West Wits is moving from proven resource to real production with a clear, fully funded execution pathway. We have near-term value unlock through our first gold pour in March 2026, a steady ramp to ~70koz per year and exceptional long-term upside through Project 200 and our uranium conversion strategy. Investors get exposure to a de-risked, construction-ready gold project with strong ESG credentials, disciplined delivery and a management team that has consistently met milestones. It’s a rare combination of near-term cash flow and meaningful growth optionality.