Wia Gold Limited has received firm commitments for a A$125 million placement at A$0.425 per share to fund the development of the Kokoseb Gold Project through construction to first gold production.

The placement is conditional upon shareholder approval, which will be sought at a General Meeting expected to be held in late September or early October 2026. The offer price represents a nil discount to the last traded price of A$0.425 on 7 August 2026 and a 2% discount to the five-day volume-weighted average price. Argonaut Securities acted as global coordinator, joint lead manager and joint bookrunner alongside joint lead managers Tamesis Partners and Stifel Nicolaus Canada.

The funding raised from the placement, combined with a proposed US$360 million senior secured debt facility from Sprott Resource Lending Corp. and existing cash reserves, fully funds the project through construction to first production. First gold is targeted for the fourth quarter of 2028.

“Following completion of the DFS and a 29% increase in our Mineral Resource, this Placement, together with the proposed US$360 million Sprott debt facility and existing cash reserves, completes the funding package required to advance Kokoseb through construction and into production. The proceeds will be applied to pre-production capital and key workstreams that de-risk project execution.”

“The strong support from new and existing institutional and sophisticated investors reflects confidence in the quality of the project. We thank our shareholders for their ongoing support as we advance Kokoseb towards becoming Namibia's next major gold mine.”

— Henk Diederichs, Managing Director and Chief Executive Officer

Proceeds will be allocated primarily toward pre-production capital expenditure, ongoing project studies, test work, permitting, social and environmental activities, regional exploration, and corporate working capital.

The Kokoseb deposit is held under an 80% joint venture with the state-owned mining company Epangelo within the Okombahe exploration licence. The licence forms part of Wia’s broader Damaran Project, which spans nine tenements covering a total area of over 2,700 square kilometres in north-west Namibia.

Read the full announcement: A$125m Placement Completes Funding for Kokoseb