Scoping study confirms high return potential of Wia Gold’s Namibia project
ASX-listed Wia Gold has confirmed that it can produce gold at a rate of 177 000 oz/y at the Kokoseb project, in Namibia, at an all-in sustaining cost of $1 265/oz.
In a scoping study on the project published on September 30, Wia finds Kokoseb can produce 177 000 oz/y for five years before scaling down to 146 000 oz/y for the remainder of its 11-year mine life.
The project lends itself to simple openpit mining and carbon-in-leach processing, with an estimated aftertax net present value (NPV) of $646-million and an internal rate of return (IRR) of 38%, should the gold price average $2 600/oz.
In a higher gold price environment of $3 450/oz, the project’s NPV jumps to $1.26-billion for an IRR of 60%.
In either scenario, the payback period for the project is under two years.
The scoping study also confirms Kokoseb’s growth potential, with the resource being open at depth and along strike. Wia currently has seven drill rigs operating for exploration.
The company targets a maiden underground mineral resource estimate by mid-2026.
The submission of the scoping study to Namibia’s Ministry of Mines and Energy allows Wia to submit its application for the mining licence for Kokoseb. An environmental-impact assessment will be lodged early next year, while work on a definitive feasibility study has started and will be published in mid-2026.
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