Wia Gold Locks Down Funding for Namibia's Kokoseb Project

Wia Gold has secured firm commitments for an A$125 million placement to fund its Kokoseb gold project in Namibia. The company paired this with a proposed US$360 million debt facility from Sprott Resource Lending, which will be used alongside existing cash reserves to carry the project through construction to first gold by the fourth quarter of 2028.

The funding package is based on the definitive feasibility study (DFS) completed in August 2026, which confirmed the project's technical and economic viability. The DFS outlined a maiden JORC probable ore reserve of 69.8 million tonnes at 0.87 g/t gold for 1.95 million ounces.

The economics look strong, with an internal rate of return of 41% and a payback period of 1.8 years at a gold price assumption of US$3,600 an ounce. However, the project still faces execution risk, particularly in terms of mining dilution, operating cost inflation, permitting timing, and contractor availability.

The shareholder vote on the placement is expected to take place in late September or early October 2026. Investors will also be keeping a close eye on progress with the Sprott facility, which requires a site visit in August 2026 and customary conditions for financial close.