WIN Metals Sells Munda Nickel Rights for $1.4 Million to Advance Gold Projects
WIN Metals has sold its non-core nickel rights and infrastructure at Munda to Auric Mining for $1.4 million, redirecting capital to advance its Butchers Creek Gold Project in the Kimberley region.
- Sale of nickel rights and infrastructure at Munda mining tenement M15/87
- Transaction valued at $1.4 million with staged payments completed by July 2025
- Proceeds earmarked to fund exploration at Butchers Creek Gold Project
- WIN retains majority of nickel resources at Mt Edwards
- Collaboration enhances Auric Mining’s operational control at Munda Gold Mine
Strategic Divestment to Focus on Gold
WIN Metals Ltd (ASX, WIN) has completed the sale of its remaining nickel rights and associated non-core assets at the Munda mining tenement (M15/87) to Auric Mining Ltd (ASX, AWJ) for $1.4 million. This transaction, announced on 1 July 2025, includes the transfer of all nickel rights, exploration camp infrastructure, and exclusive access to water from the 132N open pit for seven years without usage charges.
The deal follows a series of partial divestments initiated in 2024 and marks a clear strategic pivot for WIN Metals. By divesting non-core nickel assets that do not align with its short to medium-term development plans, WIN is freeing up capital to accelerate exploration and development at its flagship Butchers Creek Gold Project in the Kimberley region of Western Australia.
Preserving Core Nickel Holdings While Advancing Gold
Despite the sale, WIN retains a substantial nickel resource inventory at its Mt Edwards Nickel Project, currently estimated at 12.66 million tonnes at 1.43% nickel, equating to approximately 180,900 tonnes of contained nickel. This ensures the company maintains a strong position in nickel while sharpening its focus on gold exploration.
Managing Director Steve Norregaard highlighted the transaction as a “win-win” outcome, enabling WIN to realise latent value from non-core assets while supporting Auric Mining’s rapid progress at Munda. Auric’s acquisition of the nickel rights and infrastructure, including accommodation facilities close to the Munda Gold Mine, provides it with greater operational control and a clear pathway to expand its open pit mining activities.
Funding Growth in Kimberley Gold Exploration
The $1.4 million proceeds from the sale are earmarked to fund follow-up work programs at Butchers Creek, which hosts a global gold resource of 5.63 million tonnes at 1.98 grams per tonne gold, containing approximately 359,000 ounces. This project has shown promising results from drilling campaigns late last year, and the fresh capital injection will support further exploration and development efforts.
WIN’s strategic focus on gold aligns with broader market interest in the Kimberley region’s mineral potential, while Auric’s consolidation of nickel rights at Munda complements its gold mining ambitions. The collaboration between the two companies exemplifies how asset realignment can unlock value and operational efficiencies in the mining sector.
Looking Ahead
As Auric Mining advances its mining operations at Munda, WIN Metals is poised to leverage its strengthened balance sheet to pursue growth opportunities in gold and other minerals. The company’s diversified portfolio, including lithium resources at the Faraday-Trainline Project, positions it well for future development in Western Australia’s resource-rich regions.
Bottom Line?
WIN Metals’ asset sale crystallises value and sets the stage for intensified gold exploration in the Kimberley.
Questions in the middle?
- How will WIN Metals prioritise its exploration budget across gold and lithium projects following this sale?
- What are Auric Mining’s expansion plans at Munda now that it controls all nickel rights and infrastructure?
- Could further divestments of non-core assets be on the horizon for WIN Metals to fund growth?
