West Wits Mining Limited has completed the buyback of a 10% minority interest in its South African subsidiary, West Wits Mining SA (Pty) Ltd, raising its ownership in the Witwatersrand Basin Project from 66.6% to 74%.

The buyback was executed through a US$5.09 million payment to Lilitha Resources (Pty) Ltd, which previously held the 10% interest in WW SA. This transaction cancels the minority-held shares, consolidating West Wits’ control over the WBP.

Lilitha continues to hold a 26% interest in the project via West Wits MLI (Pty) Ltd, another vehicle associated with the Witwatersrand Basin Project, maintaining a strategic role in its future.

The company described the buyback as value accretive, citing enhanced project economics from its July 2025 Definitive Feasibility Study (DFS) update and increased exposure to long-term gold production.

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The Qala Shallows project, forming Stage 1 of the WBP, now boasts a US$500 million post-tax Net Present Value (NPV7.5), with an Internal Rate of Return (IRR) of 81%, following the updated DFS.

The upgraded DFS projects total gold production of 944,000 ounces over a 16.8-year mine life, demonstrating the scale and longevity of the Witwatersrand Basin operation.

The projected All-In Sustaining Cost (AISC) is US$1,289 per ounce, positioning the project competitively in global gold production economics amid rising investor interest in South African assets.