Name of the Project
Kokoseb gold project.

Location
Erongo region of Namibia.

Project Owner/s
The project is a joint venture between Wia Gold (80%) and Namibia’s State-owned Epangelo Mining Company.

Project Description
The Kokoseb mine will be Wia Gold’s fourth modern gold mine. The project is underpinned by a growing mineral resource of 2.93-million ounces, including 1.81-million ounces in the indicated category at a 0.5 g/t cutoff. This resource converts to a production target of 58.9-million tonnes at 0.97 g/t gold-containing 1.83-million ounces, of which only 6% is from the inferred mineral resources during the first seven years of production.

The project will encompass an opencut mine, a 5.2-million-tonne-a-year carbon-in-leach processing facility, water supply from known water supply schemes in the area, low-cost power from the Namibian grid, a tailings storage facility and associated infrastructure.

Gold production will average of 177 000 oz/y over the first five years of operations and 146 000 oz/y over the more than 11-year life-of-mine. Total LoM production is estimated 1.65-million ounces.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has a pretax net present value, at a 5% discount rate of, $1.01-billion and an internal rate of return 48% using a base case gold price of $2 600/oz. The project has an after-tax payback of 1.8 years.

Capital Expenditure
Preproduction capital costs are estimated at $358.8-million.

Planned Start/End Date
A definitive feasibility study is under way, with completion expected in the second half of 2026.

Latest Developments
Wia Gold has received binding commitments to raise A$92-million through the issue of about 200-million new shares at A$0.46 a share to new and existing, institutional and sophisticated investors to advance the project.

The proceeds will be used for execution-readiness and early works programmes; preproduction capital expenditure; ongoing project studies, testwork and project development; permitting; social and environmental activities; regional exploration and project generation; and corporate costs, working capital and costs of the placement.

Wia CEO Henk Diederichs has said this placement materially strengthens the company’s balance sheet at a pivotal stage in the project’s development and provides a clear pathway to advance key workstreams as Wia progresses towards definitive feasibility study completion and, ultimately, production.

The funding has also enabled Wia to continue with regional exploration activities across its broader tenure, where the company sees meaningful potential to build on the Kokoseb discovery.

Key Contracts, Suppliers and Consultants
None disclosed.

Contact Details for Project Information
Wia Gold, tel +61 8 6288 4252 or email info@wiagold.com.au.