Ann: West Wits Announces SPP to Accelerate WBP Development, page-3

The need to do the SPP seems to arise from the trial mining/contract rejuvenation requiring a fair bit of spending.

It was a roll of the dice to rely on it as the sole form of short term running capital heading into the upcoming granting of the permits so allow short term ramp up.

I have seen lots of SPPs in the past. I remember NTL did one shortly before they announced a JV with Newcrest which pushed the share price to about 3 times the SPP price.

Just remember you can only get $15,000 per shareholder with a maximum of $1m raised - if the company does something good in the interim and market buying resumes then it will be a golden ticket to have the right to buy $15k.

If WWI can achieve its plans then it will certainly pay off big time.