Wia Gold secures funding for Kokoseb Gold Project in Namibia

Wia Gold has secured significant funding to advance the Kokoseb Gold Project in Namibia. The company received firm commitments for a $125 million equity placement, which will be used for pre-production capital and de-risking project execution.

In addition to the equity raise, Wia Gold has signed indicative terms with Canada-based Sprott for a $360 million debt facility to fund the construction of the mine. Combined with existing cash reserves, this completes the funding package required to move the project through construction toward first gold production, which is targeted for the fourth quarter of 2028.

The Kokoseb Project, located in the Erongo region, has an updated mineral resource estimate of 3.78 million ounces of gold. The project is expected to have an initial 14-year mine life, with an average annual production of approximately 150,000 ounces over the first decade. Wia Gold holds an 80% interest in the project through a joint venture with the state-owned company Epangelo.