West Wits ready for rapid development of Qala Shallows once funding agreements conclude

ASX-listed West Wits Mining has reported a cash and cash equivalent position of $1.4-million as at December 31, which, coupled with a proposed $15.8-million debt facility with the Industrial Development Corporation (IDC) and another possible $26-million from other partners, puts the company in good stead to develop the Qala Shallows project. As the IDC progresses a due diligence investigation to finalise funding terms and mobilise resources, West Wits has been preparing the Qala Shallows project for a quick-as-possible start-up.