West Wits Mining Tells Shareholders Qala Shallows Ramp-Up Follows Development, Not a Straight Line

West Wits Mining held a shareholder and analyst call on October 14, 2026, with CEO Roelof Deysel explaining the company's production profile and the Qala Shallows ramp-up. Seeking Alpha published the transcript of the call, which focused on investor questions about production timing.

Deysel Explains the Qala Shallows Ramp

Jessica Fertig, who looks after investor relations, opened the call by saying the session was about understanding how Qala Shallows ramps up. She said the company had received many thoughtful questions about production recently.

Deysel said the main thing investors need to understand is that building an underground mine is not a straight line. He said development comes first, followed by ounces later.

"Building an underground mine isn't a straight line and development comes first, followed by ounces later," Fertig said.

Fertig said Deysel would explain why the production profile looks the way it does over about 25 minutes. She said questions submitted through the online chat forum had been collated for the discussion.

Deysel joined the call from Sydney, where he said he was attending the Gold Conference that week. He said he wanted to address what investors most need to understand about production.

Qala Shallows Funding and First Gold

West Wits Mining is an ASX-listed junior gold producer operating the Qala Shallows underground mine in South Africa's Witwatersrand Basin, according to akta.pro company records. The company poured first gold in March 2026 and is ramping toward 70,000 to 200,000 ounces per year at steady-state production.

The same records show West Wits executed definitive loan agreements in June 2026 for a R1.115 billion financing package with Absa and Nedbank, comprising a R875 million senior loan facility, a R150 million working capital facility and a R90 million cost-overrun facility. The package fully funds the Qala Shallows project toward steady-state production.

West Wits poured first gold from the Qala Shallows underground mine at Sibanye-Stillwater's Ezulwini processing plant in March 2026, under a toll-treatment agreement that enables ore processing without requiring its own processing infrastructure.

Earlier Milestones at Qala Shallows

West Wits completed its first gold pour in March 2026 and secured ZAR 1.115 billion in debt financing in July 2026, according to AInvest.

West Wits announced milestones achieved at the Qala Shallows gold mining project in South Africa's Witwatersrand Basin, Mining Weekly reported in July 2026.

West Wits achieved the breakthrough of its 1 West Decline into the 2 Level mining horizon at Qala Shallows in May 2026, Kalkine reported in July 2026. The company transitioned from low-grade development ore extraction to accessing historically pre-developed higher-grade stoping areas.

What Comes Next for Qala Shallows

West Wits is ramping Qala Shallows toward steady-state production of 70,000 to 200,000 ounces per year, according to akta.pro company records. The June 2026 financing package with Absa and Nedbank fully funds the project toward that target.