Gold-focused exploration company Wia Gold has secured binding commitments to raise A$30m ($19.4m) through a share placement with existing, sophisticated and institutional investors.

The funding will primarily support resource development, exploration activities, ongoing project studies, test work, development and permitting, and social and environmental activities at the Kokoseb gold project in Namibia.

Additionally, a portion of the capital will go towards Wia Gold's broader exploration portfolio. The funds will also cover corporate costs, working capital and the expenses associated with the placement.

The placement involved the issuance of 100 million new fully paid ordinary shares at an offer price of A$0.30 per share.

This price represents a 4.8% discount to the last traded price of A$0.315 on 15 August 2025 and a 2.1% discount to the ten-day volume-weighted average price of A$0.306 up to and including that date.

The new shares will rank equally with the company's existing fully paid ordinary shares.

Wia executive chairman Josef El-Raghy said: "Wia has made significant progress at Kokoseb over the past 12 months, most recently with the mineral resource estimate upgrade to 2.93 million ounces of gold for 89 million tonnes at 1g/t [grams per tonne].

“The strong support for the placement received from both domestic and offshore institutional investors allows the company to continue with its strategy to expand the Kokoseb deposit via an accelerated exploration programme. The scoping study remains on track for completion in the current quarter with many of the elements of a subsequent definitive feasibility study already under way.”

Argonaut Securities acted as the lead manager and bookrunner for the placement, with Tamesis Partners and SCP Resource Finance serving as co-lead managers.

Following the completion of the placement, Wia Gold's cash balance will stand at approximately A$55m.