Wia raises cash for Namibian gold hunt
PERTH (miningweekly.com) – Junior Wia Gold is hoping to raise A$11-million through a three-for-five entitlement offer to accelerate resource growth drilling at its Kokoseb gold project in Namibia.
The entitlement offer will be priced at 3.2c a share, with Wia having received irrevocable commitments from several shareholders for a total of A$3.4-million. The offer is partially underwritten for a further A$5-million in excess of these commitments.
“The impressive nature of the ongoing exploration results at Kokoseb demand that we accelerate our growth drilling activities there. The extensional potential, both along strike and at depth, along with the accompanying high-grade shoot potential that is increasingly apparent, is a substantial prize for us to pursue,” said Wia chairperson Andrew Pardey.
“The proceeds from this rights issue will allow us to do this more rapidly, but without any dilution of our systematic approach to exploration of this emerging world-class gold opportunity.
“I would like to thank our major shareholders for their support of this capital raising and our longer-term vision for Kokoseb, and Wia more broadly. This support allows us to rapidly pursue the latent growth potential at Kokoseb, while also seeking to deliver further value-accretive discovery success across our broader Namibian and Cote d’Ivoire portfolios.”
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