West Wits Mining (ASX:WWI) will draw down $12.5 million from its three-tranche loan facility with Nebari Natural Resources Credit Fund II on Tuesday, according to a Monday filing with the Australian bourse.
The company may access an additional $22.5 million under the facility, subject to certain conditions and approvals, the filing said.
The funds will be used to develop the Qala Shallows gold project in South Africa, according to the filing.
West Wits Mining's shares were down nearly 2% in recent Monday trade.