Wia Gold, a gold-focused exploration company, announced that it has secured binding commitments to raise A$30m ($19.4m) through a share placement with existing, sophisticated, and institutional investors. The funds will be used to advance resource development and exploration activities, as well as support project studies, test work, permitting, and social and environmental programs at the Kokoseb gold project in Namibia.

The placement involved the issuance of 100 million new fully paid ordinary shares at an offer price of A$0.30 per share.

Part of the capital will also be directed towards Wia Gold’s broader exploration portfolio. In addition, the proceeds will cover corporate expenses, working capital, and placement-related costs.

The placement comprised the issue of 100 million new fully paid ordinary shares at an offer price of A$0.30 per share. This represents a 4.8% discount to the last traded price of A$0.315 on 15 August 2025 and a 2.1% discount to the ten-day volume-weighted average price of A$0.306 up to and including that date. The new shares will rank equally with Wia Gold’s existing ordinary shares.

Wia executive chairman Josef El-Raghy highlighted the company’s recent progress: “Wia has made significant progress at Kokoseb over the past 12 months, most recently with the mineral resource estimate upgrade to 2.93 million ounces of gold for 89 million tonnes at 1g/t [grams per tonne]. The strong support for the placement received from both domestic and offshore institutional investors allows the company to continue with its strategy to expand the Kokoseb deposit via an accelerated exploration programme. The scoping study remains on track for completion in the current quarter with many of the elements of a subsequent definitive feasibility study already under way.”

Argonaut Securities acted as the lead manager and bookrunner for the placement, with Tamesis Partners and SCP Resource Finance serving as co-lead managers.

Following completion of the placement, Wia Gold’s cash balance will increase to approximately A$55m. The strengthened financial position will support ongoing exploration and development activities, enabling the company to maintain momentum in advancing its portfolio.

The placement marks another step forward in Wia Gold’s efforts to grow its resource base and move towards the next stage of project development. With investor backing and ongoing exploration, the company aims to build on its progress at Kokoseb and strengthen its position in Namibia’s gold sector.