WIA Gold Advances Namibia Project in September Quarter

MT Newswires Live08:58

WIA Gold (ASX:WIA) advanced its Kokoseb project in Namibia in the quarter ended Sept. 30 with the completion of the definitive feasibility study alongside a maiden JORC probable ore reserve, according to a Tuesday filing with the Australian bourse.

The company confirmed the technical and economic viability of the project, with average annual gold production of about 150,000 ounces over the first 10 years, for total production of 1.8 million ounces over a 14-year mine life, the filing said.

The study defined a maiden JORC probable ore reserve of 69.8 million tonnes at 0.87 grams per tonne grade of gold for nearly 2 million ounces of gold, per the filing.

Shares fell nearly 2% in morning trade Tuesday.

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