Advanced grade, with silver wigns.
This is an unofficial insignia which appeared in the 1990s, as a “combat" or "night" insignia. At the time it was also identified as being for “night parachute jump qualification”. However, the 44th Parachute Brigade has denied this identification. As night jumps are part of the RSA parachutist training there would be not need for a specialized insignia for that purpose. The closest to the unit that any connection has been made is that the factory allegedly has an order for the insignia from someone in the unit’s Kit Shop. And interesting, and not too common, variation of Bragg & Turner ident No. 395. However, these badges were never adopted and have disappeared from the scene.