The toll treatment agreement signed with Sibanye-Stillwater initially involves 15,000t per month before rising "over time" up to 54,000tpm.

West Wits expects financing to be "significantly advanced" by the end of the current quarter, with managing director Jac van Heerden telling an investor briefing early this week there were multiple options on the funding front.

Unrelated but of note was the subsequent A$110 million streaming deal announced this week by another South African gold mining aspirant, Theta Gold Mines.

West Wits' feasibility study showed it had "peak" funding requirements of US$63 million.

West Wits expects first gold to be poured from the WBP by about this time next year and to ramp up over a three-year period to output of 55,000oz per annum.

Speaking at the same investor briefing, recently appointed West Wits director Warwick Grigor said he had never seen a prospective gold project where the geology and mining conditions had been "as fully de-risked".

Grigor was also strong the integrity of the West Wits board he now sits on.

And while the well-known resources market veteran conceded it had taken some years to get the mining rights for the multi-million ounce WBP, "I think the ball is starting to roll now".

West Wits, which also has an interesting potential uranium play at WGP, raised A$2.5 million in equity in August, and could potentially be expected to raise further equity in the current quarter.

Shares in West Wits were trading at 1.8c this week, capitalising the company at $36 million.