Australian-listed mining company Wia Gold Limited has secured N$1.1 billion (A$92 million) through a share placement to accelerate development of its Kokoseb Gold Project in Namibia, one of Africa’s emerging large-scale gold prospects.
The company announced that it had received binding commitments from new and existing institutional and sophisticated investors to raise the funds at an offer price of N$5.48 (A$0.46) per share.
The placement involves the issue of 200 million new ordinary shares and was offered at an 8% discount to the company’s last traded share price of A$0.50, and a 5.9% discount to its 10-day volume weighted average price.
According to Wia Chief Executive Officer Henk Diederichs, the strong investor interest, particularly from offshore institutions, reflects growing confidence in Kokoseb’s potential to become one of Africa’s next major gold mines.
“We are very pleased with the strong demand for this placement, particularly from high-quality offshore institutional investors who recognise Kokoseb’s potential to emerge as one of Africa’s next major gold mines,” he said.
Diederichs said the funding significantly strengthens the company’s balance sheet at a critical stage, allowing it to advance key workstreams ahead of completing its Definitive Feasibility Study, targeted for the second half of 2026.
Funds raised will mainly support the continued advancement of the Kokoseb project, including early works, project studies, test work, permitting, environmental and social programmes, as well as regional exploration activities across Wia’s broader Namibian tenure.
The company said the fresh capital would also position it to cover pre-production expenditure and maintain working capital as it progresses towards production.
“This placement materially strengthens our balance sheet at a pivotal stage in the project’s development and provides a clear pathway to advance key workstreams as we progress towards DFS completion and ultimately production. The funding also enables us to continue with regional exploration activities across our broader tenure, where we see meaningful potential to build on the Kokoseb discovery. We thank our new and existing shareholders for their support, and we look forward to delivering on the next phase of value creation,” Diederichs said.
Wia described Kokoseb as one of the continent’s most compelling emerging gold development projects, supported by a growing resource base and rapid progress towards feasibility completion.
