West Wits Mining (ASX:WWI) has repaid its Nebari loan facility valued at US$12.5 million as the tranche one amount advanced by Nebari Natural Resources Credit Fund II.
This repayment forms as part of satisfying the final condition precedents for financial close of the R875 million ($76.84 million) senior loan facility with Absa Bank and Nedbank CIB (SA Senior Loan).
Financial close and first drawdown of the SA Senior Loan expected imminently, with West Wits currently in the final stages of documentation.
West Wits CEO Rudi Deysel says the repayment of the Nebari Facility, clearing the path to financial closure of the SA senior loan is a “significant milestone” for the company and its shareholders.
“Nebari played a genuinely pivotal role in our development — their willingness to move quickly and pragmatically in H2 2025 gave us the operational momentum and funding optionality that made this outcome possible, and we are grateful for their partnership,” Deysel says.
“With financial close of the SA Senior Loan now imminent, our focus is entirely on executing the final steps to drawdown and accelerate the Qala Shallows ramp-up toward steady-state production.”
West Wits Mining is an explorer, developer, and producer of precious and base metals. The company is focused primarily on the Witwatersrand Basin located in the Central Rand Goldfields of South Africa.
Write to Maddison Elliott at Mining.com.au
Images: West Wits Mining
