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2026-11-06
◂ Monitor WIA ASX

Wia Gold Limited

DFS Unfunded Developer · Gold · Namibia Rating locked: sign in to view v8.1 · wia-20261031t202844-full
Last 2026-11-06
A$0.385
1D
—
1M
—
YTD
—
1Y
—
Upside
Locked: sign in to view
Mkt cap
A$768.7M
EV
A$539.5M
Cash
A$229.2M
Debt
A$0

Narrative and provenance

Research & Sources

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Chronological evidenceSource-document inventory32 documents
Market snapshot: price performance, liquidity and gold spot at 2026-10-31Commodity Data · MediumExtracted

Output of python -m miners.v8db.market_snapshot WIA --cutoff 2026-10-31 --shares 1996692123 --commodities Au: 52-week range A$0.325-0.585; returns 1m -14.9%, 3m -5.9%, 12m +14.3%, 3y +1,076%; 20-day average traded value A$0.85m; market cap A$798.7m; AUD per USD 1.4236; gold spot US$4,031/oz on 2026-10-29 against a one-year average of US$4,454 (range 3,948-5,318) and a three-year average of US$3,306. The peer database held no published gold peers.

Document ID
wia-market-snapshot
Published UTC
2026-10-31T02:00:00Z
Projects
kokoseb
Commodities
gold
Insider dealings database for WIAGovernance · LowExtracted

python -m miners.insider_transactions show WIA: director on-market purchase by Josef El-Raghy (El-Raghy Kriewaldt Pty Ltd) of 3,333,333 shares at A$0.469 (A$1,565,726) on 20 August 2026, immediately after the DFS and placement announcement; no director sales located in the sample read.

Document ID
wia-insider-local
Published UTC
2026-10-31T02:00:00Z
Projects
kokoseb
Commodities
gold
Reference price: WIA close 30 October 2026Market Data · HighExtracted

Latest eligible local ASX close from python -m miners.reference_price WIA --valuation-date 2026-10-31: A$0.40 on 2026-10-30 (high 0.405, low 0.39, volume 778,519), market data provider via miners.collect_stock_prices, one ASX WIA ordinary share, 1 day old (fresh).

Document ID
wia-ref-price
Published UTC
2026-10-30T02:00:00Z
Projects
kokoseb
Commodities
gold
Open original source ↗
Peer database: published ASX gold developers and producers (miners_v8.db)Market Data · LowExtracted

Read from data/miners_v8.db stock_daily and companies (rows dated 2026-10-30, published research runs): market cap, enterprise value, P/NAV on each peer's own fair value, EV per attributable resource and reserve ounce and 12-month return for Astral (AAR), Antipa (AZY), Capricorn (CMM), Greatland (GGP), Meeka (MEK), Catalyst (CYL) and Minerals 260 (MI6). Peer fair values are other runs' judgments, not primary evidence.

Document ID
wia-peer-db
Published UTC
2026-10-30T02:00:00Z
Projects
kokoseb
Commodities
gold
Quarterly Activities & Cashflow Report - September 2026Results · HighExtracted

Quarterly activities report and Appendix 5B for the quarter to 30 September 2026 (lodged 20 October 2026). Confirms the August 2026 DFS (14-year life, 1,836koz, US$475m capex), the 3.78Moz resource and 1.95Moz Probable reserve, receipt of the A$125m placement on 25 September, cash of A$229.2m and no debt, an indicative Sprott US$360m debt facility with financial close targeted in Q4 2026, a plant throughput expansion option to ~7.0Mtpa for US$9.3m, Mining Licence and ESIA still pending, and the Appendix 5B cash flows (operating +A$66k, investing -A$7,141k, financing +A$117,187k).

Document ID
wia-q-sep26
Published UTC
2026-10-19T21:19:05Z
Projects
kokoseb
Commodities
gold
Open original source ↗
Notice of Annual General Meeting/Proxy FormGovernance · LowExtracted

Notice of the 2026 Annual General Meeting lodged 19 October 2026: meeting on 19 November 2026 at 10am AWST in Perth with proxies due 17 November 2026; director re-elections and remuneration resolutions.

Document ID
wia-agm-notice-oct26
Published UTC
2026-10-19T07:04:01Z
Projects
—
Commodities
gold
Open original source ↗
Local management assessment for WIALeadership · LowExtracted

management/WIA/summary.md and executives/*.md: preliminary roster confirmation (Henk Diederichs MD and CEO, David Edwards CFO, John Mussett Project Director, Pierrick Couderc Group Exploration Manager, Jessica O'Hara Company Secretary) with low evidence confidence and a 49/100 evidence-limited assessment score; used only as a roster cross-check against the annual report and ASX appointments.

Document ID
wia-mgmt-local
Published UTC
2026-10-09T02:00:00Z
Projects
kokoseb
Commodities
gold
Local ownership register for WIAGovernance · LowExtracted

ownership/WIA/investors.json (reviewed 2026-10-09): top-20 accounts at 8 September 2026 (Capital DI 15.65%, BNP Clearstream 11.69%, Citicorp 8.34%, JP Morgan 8.27%), substantial holders Capital DI 15.68% (27 May 2026 notice), BPM Investments 10.06% (older notice) and Helikon 7.39% (28 September 2026); the file warns percentages predate the 294m-share placement.

Document ID
wia-ownership-local
Published UTC
2026-10-09T02:00:00Z
Projects
kokoseb
Commodities
gold
Becoming a substantial holderGovernance · MediumExtracted

Form 603 of 30 September 2026: Helikon Investments and associated entities hold 147,570,332 shares (7.39% of 1,996,692,123) from 28 September 2026.

Document ID
wia-helikon-sep26
Published UTC
2026-09-30T06:55:35Z
Projects
—
Commodities
gold
Open original source ↗
Notification regarding unquoted securities - WIACorporate Action · LowExtracted

Appendix 3G of 29 September 2026: 2,000,000 performance rights (expiry 25 September 2031) issued to an incoming non-executive director; ordinary shares unchanged at 1,996,692,123.

Document ID
wia-3g-sep26
Published UTC
2026-09-29T07:40:56Z
Projects
—
Commodities
gold
Open original source ↗
StockAnalysis: WIA analyst forecast pageOther · LowExtracted

Page read 31 October 2026: three Strong Buy ratings, average target A$0.83 (median 0.78, low 0.70, high 1.07), targets last updated 29 September 2026, S&P Global data, price A$0.40 on 30 October. Used to test the thesis and as a counterargument; never as the fair-value anchor. Individual broker names and reports are not accessible.

Document ID
wia-consensus-web
Published UTC
2026-09-29T02:00:00Z
Projects
kokoseb
Commodities
gold
Open original source ↗
Board and Company Secretary ChangesLeadership · MediumExtracted

Board and company secretary changes (28 September 2026): geologist Jamie Day appointed non-executive director, Andrew Pardey to retire at the AGM, Joanna Kiernan resigned as company secretary and Jessica O'Hara (Group Legal Counsel) appointed from 30 September 2026.

Document ID
wia-board-sep26
Published UTC
2026-09-27T23:01:59Z
Projects
—
Commodities
gold
Open original source ↗
Application for quotation of securities - WIACorporate Action · HighExtracted

Appendix 2A of 28 September 2026 quoting 294,117,648 placement shares: issued capital following quotation 1,996,692,123 ordinary shares, plus unquoted performance rights and options.

Document ID
wia-2a-sep26
Published UTC
2026-09-28T00:04:19Z
Projects
—
Commodities
gold
Open original source ↗
2026 Annual ReportResults · HighExtracted

Annual report for the year to 30 June 2026 (lodged 24 September 2026). Pre-revenue developer: interest income A$1.97m, loss attributable to owners A$14.15m (including A$9.56m loss from the discontinued Cote d'Ivoire business sold to Santa Fe Minerals), operating cash outflow A$1.37m, exploration spend A$22.7m, cash A$119.1m, no borrowings, net assets A$173.9m, 1,701,874,264 shares at 30 June 2026 versus 1,365,288,356 a year earlier. Contains the board and executive biographies, remuneration report, resource and reserve statement, top holders and the Santa Fe share consideration (20,000,000 shares carried at A$5.0m).

Document ID
wia-ar-2026
Published UTC
2026-09-23T22:15:57Z
Projects
kokoseb
Commodities
gold
Open original source ↗
DFS and Funding Investor PresentationPresentation · MediumExtracted

DFS and funding investor presentation, 12 August 2026: capital structure (1,701.9m shares, 42.7m options and performance rights, A$0.425 price, A$723.3m undiluted market cap, A$119.1m cash, no debt), broker coverage list, Namibian fiscal regime (37.5% tax, 3% royalty, 1% export levy, 15% VAT), board and management biographies and the 80/20 joint venture with Epangelo.

Document ID
wia-dfs-pres
Published UTC
2026-08-11T23:43:40Z
Projects
kokoseb
Commodities
gold
Open original source ↗
A$125m Placement Completes Funding for KokosebFinancing · HighExtracted

Announcement of the A$125m placement of 294,117,648 shares at A$0.425 (nil discount to last trade, 2% discount to the 5-day VWAP of A$0.434), 12 August 2026, conditional on shareholder approval (obtained 18 September) and completing the equity funding for Kokoseb alongside the Sprott facility.

Document ID
wia-placement-125
Published UTC
2026-08-11T23:43:15Z
Projects
kokoseb
Commodities
gold
Open original source ↗
Robust DFS for Kokoseb and Project Financing UpdateStudy · HighExtracted

Definitive Feasibility Study announcement and appended 265-page report, 10 August 2026. Open-pit CIP project, 5.25Mtpa, 72.9Mt at 0.87g/t for 2.03Moz, 90.4% recovery, 1,836koz over 14 years (161koz pa years 1-5, 150koz pa years 1-10), C1 US$1,519/oz, AISC US$1,696/oz, pre-production capex US$474.8m, sustaining US$48.1m, closure US$37.9m offset by equal salvage, 3% royalty plus 1% export levy, 37% tax; post-tax NPV5% US$1,214m and IRR 41% at US$3,600/oz, US$1,577m at US$4,075/oz; maiden Probable reserve 69.8Mt at 0.87g/t for 1.95Moz. Wia holds 80% of the project through Mandarin Investments with state-owned Epangelo holding 20%. Tables 8.10, 8.12, 16.2, 16.4, 17.1 and 18.1 are the source of the yearly DCF table.

Document ID
wia-dfs
Published UTC
2026-08-10T00:03:15Z
Projects
kokoseb
Commodities
gold
Open original source ↗
Gold Demand Trends Q2 2026 (WGC data via Upstox)Commodity Data · LowExtracted

Article last updated 4 August 2026 summarising the World Gold Council Q2 2026 report: total demand flat year on year at 1,269t, central bank and institutional buying 288.9t (+62% y/y), ETF outflows 44.8t, jewellery 278.2t (-17% y/y); WGC expects investment to drive H2 2026 demand and central bank buying to stay strong but below 2025.

Document ID
wia-wgc-q2
Published UTC
2026-08-04T02:00:00Z
Projects
kokoseb
Commodities
gold
Open original source ↗
Quarterly Activities and Cashflow Report - June 2026Results · MediumExtracted

Quarterly activities report for the quarter to 30 June 2026: cash A$119.1m and no debt after the A$92m May placement; DFS and resource work in progress; Mining Licence application lodged October 2025.

Document ID
wia-q-jun26
Published UTC
2026-07-15T22:39:43Z
Projects
kokoseb
Commodities
gold
Open original source ↗
Wia raises A$92m to Advance Kokoseb DevelopmentFinancing · MediumExtracted

A$92m placement of 200,000,000 shares at A$0.46 announced 20 May 2026 (8.0% discount to last trade, 5.9% discount to 10-day VWAP) with Argonaut as global coordinator.

Document ID
wia-raise-92
Published UTC
2026-05-19T23:11:26Z
Projects
kokoseb
Commodities
gold
Open original source ↗
Quarterly Activities & Cashflow Report - March 2026Results · MediumExtracted

Quarterly activities report for the quarter to 31 March 2026: cash A$40.94m and nil debt; drilling at Kokoseb including underground extensions; ESIA submission March 2026.

Document ID
wia-q-mar26
Published UTC
2026-04-19T22:52:04Z
Projects
kokoseb
Commodities
gold
Open original source ↗
Appointment of Chief Financial OfficerLeadership · LowExtracted

Appointment of David Edwards as Chief Financial Officer effective 9 March 2026.

Document ID
wia-cfo-mar26
Published UTC
2026-03-08T22:42:10Z
Projects
—
Commodities
gold
Open original source ↗
Half Year AccountsResults · MediumExtracted

Half-year accounts to 31 December 2025 (lodged 5 March 2026): earlier statutory period, used for the cash and expenditure run-rate and the discontinued-operation classification of Cote d'Ivoire.

Document ID
wia-hy-2026
Published UTC
2026-03-05T04:52:36Z
Projects
kokoseb
Commodities
gold
Open original source ↗
Wia appoints Adam Smits as a Non-Executive DirectorLeadership · LowExtracted

Appointment of Adam Smits (former COO of Liontown Resources) as non-executive director effective 5 March 2026.

Document ID
wia-smits-mar26
Published UTC
2026-03-04T22:28:08Z
Projects
—
Commodities
gold
Open original source ↗
SFM: Completion of Acquisition of Gold ProjectsTransaction · LowExtracted

Completion of the Santa Fe acquisition of Glomin Services on 2 February 2026; Wia received 20,000,000 SFM shares (12-month escrow) and 8,000,000 performance rights.

Document ID
wia-sfm-done-feb26
Published UTC
2026-02-02T05:13:31Z
Projects
—
Commodities
gold
Open original source ↗
Quarterly Activities and Cashflow Report - 31 December 2025Results · MediumExtracted

Quarterly activities report for the quarter to 31 December 2025: cash A$45.84m (excluding trade creditors); Kokoseb drilling and the Cote d'Ivoire divestment to Santa Fe Minerals.

Document ID
wia-q-dec25
Published UTC
2026-01-20T21:21:52Z
Projects
kokoseb
Commodities
gold
Open original source ↗
Wia appoints a Managing Director & Chief Executive OfficerLeadership · MediumExtracted

Appointment of Henk Diederichs as Managing Director and CEO effective 1 February 2026; Josef El-Raghy moves from Executive Chairman to Non-Executive Chairman.

Document ID
wia-ceo-jan26
Published UTC
2026-01-14T22:00:12Z
Projects
—
Commodities
gold
Open original source ↗
SFM: Acq of Prospective Gold Projects in Cote d'lvoireTransaction · MediumExtracted

Santa Fe Minerals (ASX: SFM) announcement of 26 November 2025: binding SPA to buy Glomin Services Ltd, which held Wia's 80% of the Mankono, Bouafle, Bocanda and Issia gold projects in Cote d'Ivoire (3,449 sq km); Wia receives SFM shares and performance rights as consideration.

Document ID
wia-sfm-nov25
Published UTC
2025-11-25T22:46:26Z
Projects
—
Commodities
gold
Open original source ↗
Quarterly Activities and Cashflow Report - September 2025Results · LowExtracted

Quarterly activities report for the quarter to 30 September 2025: cash A$52.115m after the August 2025 A$30m placement at A$0.30; scoping study released 30 September 2025.

Document ID
wia-q-sep25
Published UTC
2025-10-27T22:11:34Z
Projects
kokoseb
Commodities
gold
Open original source ↗
Scoping Study Confirms Outstanding Potential of KokosebStudy · MediumExtracted

Kokoseb Scoping Study, 30 September 2025: 2.93Moz resource converted into a 58.9Mt at 0.97g/t production target; superseded by the August 2026 DFS. Confirms the 80/20 ownership with Epangelo.

Document ID
wia-scoping-2025
Published UTC
2025-09-29T22:51:22Z
Projects
kokoseb
Commodities
gold
Open original source ↗
2025 Annual ReportResults · MediumExtracted

Annual report for the year to 30 June 2025 (lodged 23 September 2025): first reference for the FY2025 comparative balance sheet, share count (1,365,288,356 at 30 June 2025) and the 2.93Moz resource context before the scoping study.

Document ID
wia-ar-2025
Published UTC
2025-09-23T09:06:51Z
Projects
kokoseb
Commodities
gold
Open original source ↗
Kokoseb Mineral Resource Estimate increases to 2.93Moz goldResource Update · MediumExtracted

Kokoseb mineral resource estimate of 2.93Moz (July 2025); superseded by the 3.78Moz estimate of 10 August 2026 (reported in the DFS announcement and the September 2026 quarterly).

Document ID
wia-mre-2025
Published UTC
2025-07-15T22:35:38Z
Projects
kokoseb
Commodities
gold
Open original source ↗
Evidence facts37
q-sep26-cashCash at 30 September 2026

229200000 AUD

2026-09-30
q-sep26-burnNet operating plus investing cash flow, September 2026 quarter

-7075000 AUD

2026-09-30
q-sep26-first-goldFirst gold target

Q4 2028 None

2026-10-20
q-sep26-sprott-warrantsWarrants to Sprott on financial close

67500000 warrants

2026-10-20
ar26-cashCash and cash equivalents 30 June 2026

119065221 AUD

2026-06-30
ar26-equityTotal equity 30 June 2026

173895797 AUD

2026-06-30
ar26-npatLoss attributable to owners FY2026

-14153423 AUD

2026-06-30
ar26-ocfNet cash used in operating activities FY2026

-1367606 AUD

2026-06-30
ar26-explorExploration expenditure paid FY2026

-22719190 AUD

2026-06-30
ar26-sharesOrdinary shares 30 June 2026

1701874264 shares

2026-06-30
ar26-shares-priorOrdinary shares 30 June 2025

1365288356 shares

2025-06-30
ar25-sharesOrdinary shares 30 June 2025

1365288356 shares

2025-06-30
dfs-npvPost-tax NPV5% at US$3,600/oz (100% project)

1214 USDm

2026-08-10
dfs-irrPost-tax IRR

41 %

2026-08-10
dfs-capexTotal pre-production capital cost

474.8 USDm

2026-08-10
dfs-aiscLOM AISC at base case

1696 USD/oz

2026-08-10
dfs-reserveProbable Ore Reserve

1.95 Moz Au

2026-08-10
dfs-ownWia interest in Mandarin Investments (Kokoseb)

80 %

2026-08-10
pres-fiscalNamibian tax rate cited

37.5 %

2026-08-12
plc-sizePlacement size

125000000 AUD

2026-08-12
plc-pricePlacement price

0.425 AUD/share

2026-08-12
q-jun26-cashCash at 30 June 2026

119100000 AUD

2026-06-30
q-mar26-cashCash at 31 March 2026

40940000 AUD

2026-03-31
q-dec25-cashCash at 31 December 2025

45840000 AUD

2025-12-31
q-sep25-cashCash at 30 September 2025

52115000 AUD

2025-09-30
scoping-ownWia interest in Kokoseb project

80 %

2025-09-30
mre25-totalKokoseb resource July 2025

2.93 Moz Au

2025-07-16
raise92-pxPlacement price May 2026

0.46 AUD/share

2026-05-20
2a-sharesOrdinary shares on issue after placement

1996692123 shares

2026-09-28
3g-rightsPerformance rights issued 25 Sep 2026

2000000 rights

2026-09-25
helikon-pctHelikon relevant interest

7.39 %

2026-09-28
ref-closeWIA close 2026-10-30

0.4 AUD/share

2026-10-30
snap-goldGold spot 2026-10-29

4031.4 USD/oz

2026-10-29
snap-fxAUD per USD

1.4236 AUD/USD

2026-10-31
snap-mcapMarket capitalisation

798676849 AUD

2026-10-30
cons-avgAverage broker target

0.83 AUD/share

2026-09-29
wgc-cbCentral bank and institutional gold buying Q2 2026

288.9 tonnes

2026-06-30