WIA Gold Limited
WIA Gold holds 80% of the Kokoseb gold project in Namibia's Erongo Region, alongside Namibian state miner Epangelo Mining with 20%. An August 2026 resource update lifted Kokoseb to 3.78 million ounces of gold -- 2.01Moz Indicated at 0.98 g/t (63.9 Mt) plus 1.77Moz Inferred at 1.1 g/t (49 Mt), with no Measured category -- and the Definitive Feasibility Study delivered on 10 August 2026 converted a maiden JORC Probable Ore Reserve of 1.95Moz (69.8 Mt at 0.87 g/t). The DFS base case at US$3,600/oz gold returns a post-tax NPV5% of US$1.21 billion, a 41% IRR and a 21-month payback on US$475 million of pre-production capital, over a 14-year mine life averaging 161,000 oz/year across the first five years at a life-of-mine AISC of US$1,696/oz and C1 cash costs of US$1,519/oz; at spot (US$4,075/oz) the NPV rises to US$1.58 billion at a 49% IRR. First gold is targeted for Q4 2028.
Notable vs. Peers
- Financials score of 7.9/10 is stronger than the peer average of 5.3/10.
Lifecycle Milestones
Not in place: mill, tailings facility, road access, grid power.
Jurisdiction (40%)7/10
Namibia is one of sub-Saharan Africa's more politically stable, mining-friendly jurisdictions with an established code, but still carries materially higher sovereign/infrastructure risk than Tier-1 peers.
Infrastructure (40%)0/10
No confirmed mill, no confirmed road access, no confirmed grid power, and no confirmed tailings facility at Kokoseb Gold Project, Erongo Region, Namibia.
Nearby producing mine (20%)Not yet researched
No project coordinates on file yet, so distance to a producing mine can't be measured.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score: Not yet researched
Distance not yet researched: no project coordinates on file
Distance can't be measured without coordinates, so excluded rather than counted as far.
Weight 22.5% - Lifecycle stageSub-score:10/10
Stage: Feasibility Study
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 57% here - JurisdictionSub-score:7/10
Namibia: jurisdiction score 7/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 26% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 17% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Chief Executive Officer and Managing Director of WIA Gold Limited. Mining executive with 20+ years advancing major African gold and copper projects, including operations in Guinea, Tanzania and Zambia.
Chief Financial Officer of WIA Gold Limited. Chartered Accountant with 25+ years managing project finance and compliance across African and Australian mining jurisdictions.
Exploration Manager at WIA Gold Limited. Over 20 years of experience, having led the discovery of two significant Côte d'Ivoire projects while serving as Centamin's regional exploration manager.
Company Secretary of WIA Gold Limited. Governance professional with 18+ years administering publicly listed companies across ASX, AIM and SGX markets.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
No producer, strategic investor, or named resource-specialist fund holds a disclosed stake -- the institutional register shows a percentage but no individual holder names. One director bought stock on the open market in the past year, a real if modest single-insider signal.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
WIA Gold holds 80% of the Kokoseb gold project in Namibia's Erongo Region, with the Namibian state miner Epangelo Mining holding 20%. An August 2026 resource update put Kokoseb at 2,010,000 oz of indicated gold at 0.98 g/t, with no measured category, plus 1,770,000 oz inferred, and the definitive feasibility study delivered on 10 August 2026 declared a maiden probable reserve of 1.95 Moz. The August 2026 study shows a post-tax NPV5% of US$1.21B and a 41% IRR at US$3,600/oz gold, with pre-production capital of US$475M, a 14-year mine life averaging 161,000 oz a year in the first five years and an all-in sustaining cost of US$1,696/oz. First gold is targeted for Q4 2028, and an A$125M equity raise to fully fund construction had firm commitments but remained subject to shareholder approval.