West Wits completes Derewo gold project acquisition

Australia-listed West Wits Mining Limited announced Thursday that it has successful completion of the acquisition of the Derewo River Gold Project in Papua province.

In conjunction with this transaction the Company has also completed through BGF Equities a private placement and Shareholder Purchase Plan raising $3.5m before costs.

West Wits is now proceeding to expedite implementation of its planned exploration programs at Derewo River and at the Emerald Project in South Africa. (romel)