Wia Gold (ASX:WIA) is raising $92 million through a placement to advance development at the Kokoseb Gold Project in Namibia.
The company will issue 200 million shares at $0.46 per share, which is 8% below the last trading price of $0.50 per share on 15 May 2026 and 5.9% below the 10-day volume-weighted average price of $0.48 each.
The placement is expected to settle on 26 May 2026, before shares are allotted the following day.
Argonaut Securities is acting as the global coordinator, joint lead manager, and joint bookrunner, with Tamesis Partners acting as the joint lead manager, joint bookrunner, and European selling agent.
Funds will be used to advance the Kokoseb Project, with activities including execution readiness and early works programs; pre-production capital expenditure; ongoing project studies, testwork, and project development; permitting, social, and environmental activities; and regional exploration and project generation.
Wia Gold is targeting the completion of a Definitive Feasibility Study (DFS) in H2 2026.
CEO Henk Diederichs says the company is pleased by the demand returned in this placement, which includes support from “high-quality offshore institutional investors who recognise Kokoseb’s potential to emerge as one of Africa’s next major gold mines”.
“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,” Diederichs says.
“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.”
Located in Namibia, approximately 320km by road from Windhoek, the Kokoseb Gold Project is located in the Erongo region and hosts a resource estimate of 2.93 million ounces, including 1.81 million ounces in the indicated category at a 0.5 grams per tonne cut-off.
The resource converts to a production target of 58.9 million tonnes @ 0.97g/t gold, containing 1.83 million ounces, of which only 6% is from the inferred mineral resources during the first seven years of production.
Wia Gold is a gold-centered explorer focused on rapidly advancing its Kokoseb discovery in Namibia.
Write to Maddison Elliott at Mining.com.au
Images: Wia Gold
