Wia Gold secures $92M for Kokoseb Project development

Australian explorer Wia Gold (ASX:WIA) secured binding commitments for a major $92 million capital raising to accelerate development at its flagship Kokoseb Gold Project.

The equity placement, heavily backed by new and existing institutional and sophisticated investors, comprises the issue of 200 million new fully paid ordinary shares.

Offered at $0.46 per share, the price reflects an 8.0% discount to Wia’s last traded price on May 15 of $0.50, and a 5.9% discount to the 10-day volume-weighted average price.

The capital injection strengthens Wia Gold’s balance sheet as it approaches pivotal milestones.

Underpinned by a rapidly growing resource base, Kokoseb is emerging as one of Africa’s most compelling large-scale gold developments.

CEO Henk Diederichs noted the robust demand, particularly from high-quality offshore institutional investors who recognise the project's potential to become a major African gold mine.

Proceeds will primarily fund the completion of the project’s definitive feasibility study, which is currently targeted for the second half of 2026.

The funds will also support ongoing regional exploration activities aimed at building upon the initial Kokoseb discovery.

Argonaut Securities acted as global coordinator, joint lead manager, and joint bookrunner for the raising, alongside Tamesis Partners as joint lead manager and joint bookrunner, and Stifel Nicolaus Canada as co-manager.

At the time of reporting, Wia Gold’s share price was $0.45.