West Wits Mining Limited · ASX:WWI
West Wits Mining — Cape Town Indaba 2025
21 slides from West Wits Mining's conference presentation, February 2025
Slide 1: West Wits Mining - Near Term Gold Producer
WEST WITS MINING SOUTH AFRICA | NEAR TERM GOLD PRODUCER CAPE TOWN INDABA| February 2025 ASX:WWI Qala Shallows, Witwatersrand Basin Project, Gauteng ASX:WWI COPYRIGHT ©2025 ALL RIGHTS RESERVED Mining District, Johannesburg, South Africa
Slide 2: Disclaimer
DISCLAIMER FORWARD-LOOKING STATEMENTS COMPETENT PERSON STATEMENTS This presentation includes “forward-looking statements” as that term within the meaning of securities laws of The original report was “Updates to Qala Shallows DFS provide improved results for Witwatersrand Basin applicable jurisdicti
Slide 3: Why invest in West Wits
Why invest in West Wits Significant gold resource in the WBP – Mineral Resource Estimate WBP - Project 200 - significant growth Witwatersrand Basin Project (WBP) 5Moz Gold opportunity aimed to produce South Africa (65% measured & indicated categories)1 200 000oz Gold per annum Qala Shallows (Stage 1
Slide 4: Corporate Snapshot
CORPORATE SNAPSHOT Transforming into mid-tier gold producer CAPITAL STRUCTURE (ASX:WWI) Shares on issue 2.56B Unlisted Options (exercise price range 2.2c – 25c) 141.5M Performance Rights 7.5M Convertible Notes 50* Market Capitalisation A$41M @ 1.6c per share (on 29/01/2025) Cash - 31/12/2024 A$1.0M
Slide 5: Strong Management Team Overseen & Supported by International Board
STRONG MANAGEMENT TEAM OVERSEEN & SUPPORTED BY INTERNATIONAL BOARD TOZAMA KULATI MICHAEL QUINERT RUDI DEYSEL SIWISA HULME SCHOLES JAC VAN HEERDEN WARWICK GRIGOR Chairman (AUS) CEO (SA) Exec Dir/Head of Non-Exec Dir (SA) Non-Exec Dir (SA) Non-Exec Dir (AUS) Corp Affairs (SA) ASX-experienced Mining En
Slide 6: WBP – Location & Growth Potential
WBP – LOCATION & GROWTH POTENTIAL SANDTON CBD 5. BIRD REEF CENTRAL (BRC) Gold & Uranium JOHANNESBURG CBD ▪ 2022 Scoping Study identified Five (5) distinct development stages for the Witwatersrand Basin Project with Stages 1 – 4 Gold Projects for a 27yr Life of Mine.6 ▪ Qala Shallows is Stage 1 of th
Slide 7: WWI – Gold Resources
WWI – GOLD RESOURCES GLOBAL MINERAL RESOURCE ESTIMATE (JORC 2012)1 Category Tonnage (Mt) Grade (g/t) Content (oz) Measured 10.07 4.60 1 595 000 Indicated 12.29 4.19 1 700 000 Measured & 23.00 4.45 3 295 000 Indicated Inferred 10.49 5.10 1 730 000 Total 33.49 4.66 5 025 000 ▪ Significant global Miner
Slide 8: WBP - MRE & Ore Reserve Growth
WBP - MRE & ORE RESERVE GROWTH 6 WBP tenement area 5 0.35 GOLD OUNCES (MILLION) previously held by DRD Gold which had a Historical MRE 4 0.29 declared (2000 ASX Report) of 1.50 - 12.8Moz at 4.6g/t Gold under 0.28 - 1.37 the previous JORC Code3. 3 1.42 0.60 1.21 WWI has progressively grown 1.44 the M
Slide 9: Qala Shallows Gold Project
QALA SHALLOWS GOLD PROJECT The Qala Shallows Gold Project (South Africa) comprises a low-risk, shallow underground mine utilising contract mining with ore treated at an existing operational plant HIGH TECHNICAL STANDARD ▪ Historic mine works with existing shafts & well understood rock engineering ▪
Slide 10: Qala Shallows - Mining Inventory & Ore Reserve
QALA SHALLOWS - MINING INVENTORY & ORE RESERVE2 RUN OF MINE INVENTORY (INCLUSIVE OF ORE RESERVES) 2 RUN OF MINE INVENTORY Mineral Resource Tonnage Grade Content Content ▪ >1Moz Gold at 3.04g/t, inclusive of Ore Reserves Estimate Category (Mt) (g/t) (kg) (oz) ▪ Ore Reserves - 4Mt at 2.71g/t for 351,4
Slide 11: Qala Shallows Mining Plan
QALA SHALLOWS MINING PLAN Trackless development with conventional stoping – tried and tested ▪ Ore body is accessed from surface via a decline system developed from the existing Qala adit box cut ▪ The decline is located centrally in the mining area and the K9B footwall ▪ Stopes will be accessed via
Slide 12: Qala Shallows Permanent Surface Layout
QALA SHALLOWS PERMANENT SURFACE LAYOUT2 ▪ Critical infrastructure completed ▪ Contract terms finalised with key suppliers ▪ Mining Right & Environmental Authorisation granted MINE EXTENSION Scoping Study ▪ 7.5MVA power allocation Stage 2 – Main Reef Stage 3 – Bird Reef East received withStage primar
Slide 13: Qala Shallows Production Schedule
QALA SHALLOWS PRODUCTION SCHEDULE MINING SCHEDULE & GRADE DFS completed in July 2023 by Bara Consulting2 ▪ DFS completed on first stage of development to deliver 924,000oz gold at AISC of US$977/oz ▪ From the project start date, there is a 6 - 8 week period to mobilise contractors and purchase initi
Slide 14: Qala Shallows DFS Financial Model & Funding
QALA SHALLOWS DFS FINANCIAL MODEL & FUNDING KEY FINANCIAL METRICS – DFS Base Case US$1,850/oz DFS - Financial Evaluation2 GOLD PRICE GOLD PRICE US$1,850/oz US$2,200/oz DEFINITIVE FEASIBILITY STUDY2 ▪ Post-Tax Free Cashflow of US$522m over Life-of-Mine Peak Funding US$54m US$43m Payback Period ▪ AISC
Slide 15: Targeting First Gold Pour Q4 2025
TARGETING FIRST GOLD POUR Q4 2025 2024 2025E 2026E 2027E 2027E 2028E H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 Due Diligence completed on Sr Debt Facility Project Finance package with 50% - 60% Sr Debt Mobilise mining contractors & execute first blast Build 30,000t stockpile & start deliveries to Sibanye First
Slide 16: Key Milestones Driving Value
KEY MILESTONES DRIVING VALUE Milestones Catalysts 2021 ✓ Mining Right granted with 3.5Moz gold MRE8 ❖ Complete Project Finance package ✓ Stage 1 DFS confirms 278koz Ore Reserve & AISC US$1,144/oz1 ❖ Commission UG mine development ✓ MRE increased to 4.3Moz Gold7 ❖ First ore production via completed e
Slide 17: WBP Bird Reef Central: Uranium & Gold Opportunity
WBP BIRD REEF CENTRAL: URANIUM & GOLD OPPORTUNITY Presence of uranium mineralisation within the Bird Reef sequence provides significant opportunity for the BRC to become a joint gold and uranium operation. URANIUM EXPLORATION TARGET4 BRC Uranium Project has the potential to become a standalone mine
Slide 18: WBP Environmental, Social & Governance (ESG)
WBP ENVIRONMENTAL, SOCIAL & GOVERNANCE (ESG) ENVIRONMENTAL STEWARDSHIP & BIODIVERSITY CONSERVATION ▪ Complete underground operation: low noise and dust levels ▪ Small footprint & surface infrastructure: low rehabilitation liability & minimal impact on surrounding environment ▪ Efficient water use mo
Slide 19: westwitsmining.com | info@westwitsmining.com
Qala Shallows Box Cut CHIEF EXECUTIVE OFFICER INVESTOR RELATIONS SOUTH AFRICA AUSTRALIA Rudi Deysel Keith Middleton Unit 8A, Sifon Industrial Park Level 6, 400 Collins Street 279 Sifon Street, Robertville Melbourne, Victoria rdeysel@westwitsmining.com keith@middletoncorporate.com.au Roodepoort Austr
Slide 20: Appendix 1: Ore Reserve & Mineral Resource Estimate Statements
Appendix 1: Ore Reserve & Mineral Resource Estimate Statements Table 1: WBP (JORC) Ore Reserve2 Declared ore reserve of 4.03MT at 2.71g/t for 351,424oz Gold2 Ore Reserve Notes: 1. No Inferred Mineral Resources are included in the Ore Reserves. ORE RESERVE STATEMENT FOR QALA SHALLOWS (JORC 2012) 2. T
Slide 21: Appendix 2 - References
APPENDIX 2 - REFERENCES 1. The original report was “WBP Global MRE Increases with New Prospecting Right” which was issued with consent of the Competent Person, Mr Hermanus Berhardus Swart. The report was released to the ASX on 16 December 2024 and can be found on the Company’s website (https://westw