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WEST WITS MINING LIMITED — Board/Management Information 2015
Jul 28, 2015
66091_rns_2015-07-28_e7e1bc31-618a-443a-b0ab-be1a10bed377.pdf
Board/Management Information
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ASX Announcement and Media Release 29 July 2015
ASX: WWI www.westwitsmining.com
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Fast Facts 29 Jul 2015 Capital Structure 317 million Shares on issue 52 million Options A$2.85 million Market Cap A$0.35 million Cash in Bank Nil Debt A$2.85 - million Enterprise Value (EV) 287,000ozs Current JORC Resource
Company Directors & Management
| Michael Quinert | Chairman | |
|---|---|---|
| Vin Savage | Executive Director | |
| Neil Pretorius | Non-Exec Director | |
| Hulme Scholes | Non-Exec Director |
| Top Shareholders ≈ | |
|---|---|
| DRD Gold Ltd | 12% |
| QMM Pty Ltd | 8% |
| Twynam Ag | 6% |
| Trevor Neale | 6% |
| Top 40 Shareholders | 74% |
Company Highlights
-
Indonesia
oHigh grade placer depositoProject show early stage similarities with discoveries inc; Porgera, Edie Creek, Wau -
oIndependent geologists believe source of nuggets likely to be local, based on the size and shape of the nuggets discovered
• South Africa
-
287,000 ozs Resource
-
onear surface and underground targets -
o31.8m ozs Au produced historicallyoConceptual Targeto3.85-5.06 million ozs Auo16.5-21.7 million lbs U
Itd
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Contact Details
West Wits Mining Limited ACN 124 894 060
Suite 1, 1233 High Street Armadale VIC 3143
T: +61 3 8692 9049 F: +61 3 8692 9040
E: [email protected] W: www.westwitsmining.com
Derewo Update
West Wits Mining Limited (“West Wits” or “the Company”) has continued to press its local partner to deliver a safe and secure mining site at the Company’s Derewo Gold Project (“Derewo”), Papua Province, Indonesia.
As previously announced PT Intan Angasa Aviation (“PTIA”) was engaged with the objective of facilitating access at Derewo. In April West Wits reported its employees were on site preparing for a commencement of an alluvial operation and in anticipation of the site being fully secured had begun delivering supplies, fuel and provisions to the base at Derewo. However this momentum slowed due to a number of outside influences affecting sign-off on security of the site.
Through this period PTIA has remained confident in its capacity to deliver a safe site. PTIA continues to meet all expenditure obligations associated with establishing the site at Derewo, including helicopter expenses, as well as all costs for the West Wits’ local subsidiary PT Madinah Qurrata’ain (PTMQ), the project company for Derewo.
As part of PTIA delivering a secure site West Wits is pleased to report it has received a consent for the appointment of Drs Irjen Pol Purn Rudiard M.L. Tampubolon, MM as PTIA’s representative to the board of Commissioners for PTMQ. Rudiard M.L. Tampubolon is the recently retired Chief Police Inspector, General of Police for Indonesia. Mr Rudiard M.L. Tampubolon will be PTMQ’s liaison for dealing with each of the various law enforcement forces present in Papua.
The Company will provide further updates on the development of Derewo as they are achieved and believes this is the final piece to be put in place in order for the Derewo site to be secured.
For And On Behalf Of The Board
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Vin Savage Executive Director West Wits Mining Limited