Wia Gold secures A$125 million placement to advance Kokoseb
Wia Gold Ltd. is pleased to announce that it has received firm commitments to raise A$125 million through a placement priced at A$0.425 per share, attracting both new and existing institutional and sophisticated investors. This capital raise is subject to shareholder approval at a General Meeting expected in late September or early October 2026.
Following the completion of the Definitive Feasibility Study (DFS) and a 29% increase in its Mineral Resource, Wia Gold’s Managing Director and CEO, Henk Diederichs, said the placement, combined with a proposed US$360 million debt facility from Sprott and existing cash reserves, completes the funding package required to advance the Kokoseb Gold Project through construction and into production.
“The proceeds will be applied to pre-production capital and key workstreams that de-risk project execution,” Mr. Diederichs stated. “The strong support from institutional and sophisticated investors reflects confidence in the quality of the project. We thank our shareholders for their ongoing support as we move Kokoseb closer to becoming Namibia’s next major gold mine.”
Key highlights
- A$125 million placement at A$0.425 per share to fund Kokoseb’s development to first gold production.
- Offer price represents no discount to the last traded price on 7 August 2026 and a 2% discount to the 5-day volume-weighted average price (VWAP).
- Placement follows completion of a DFS confirming robust technical and economic viability.
- Strong backing from new and existing institutional and sophisticated investors.
- Placement, along with the proposed US$360 million Sprott debt facility and existing cash reserves, fully funds Kokoseb through construction to first gold.
- Shareholder approval to be sought at a General Meeting in late September or early October 2026.
- First gold production targeted for the fourth quarter of 2028.
This capital raise marks a significant step forward for Wia Gold as it solidifies the financial foundation needed to bring the Kokoseb Gold Project into production on schedule, reinforcing the company’s commitment to delivering value for its shareholders and stakeholders.
