WIN Metals Eyes Rapid Gold Production with Radio Mine Acquisition

Strategic Acquisition of a High-Grade Gold Asset

WIN Metals Ltd (ASX, WIN) has taken a significant step towards becoming a gold producer by executing a binding Memorandum of Understanding to acquire the Radio Gold Mine, located in the prolific Yilgarn region of Western Australia. This acquisition includes a portfolio of tenements, mining infrastructure, and a partially constructed processing facility, offering a near-term production opportunity that aligns with WIN’s growth ambitions.

The Radio Gold Mine boasts a historic production pedigree, having yielded approximately 71,000 ounces of gold at an exceptionally high grade of 38.5 grams per tonne between 1918 and 1974. More recently, a 2018 Mineral Resource Estimate (MRE) reported by Resources and Energy Group Limited outlined 210,000 tonnes grading 4.23 grams per tonne gold, equating to 28,600 ounces. This resource remains open at depth and along strike, presenting further exploration upside.

Infrastructure and Production Potential

One of the key attractions of the Radio acquisition is the existing infrastructure that enables a rapid restart of mining operations. The underground mine features 330 metres of decline and 200 metres of ore development, while the processing plant is approximately 70% constructed, including concrete footings and structural steel work, with two ball mills already onsite. This setup could allow WIN to process its own ore, reducing reliance on toll milling and improving cash flow timing.

WIN’s Managing Director Steve Norregaard highlighted the strategic value of the asset, noting the potential to generate near-term cash flow by targeting both underground and shallow open pit opportunities. The company plans to drill test near-surface targets at Radio Repeater, Radio South, and the central Radio resource, which have been previously overlooked but could provide immediate mining prospects.

Transaction Terms and Strategic Outlook

The acquisition terms are structured with minimal upfront cash consideration; $500,000 including a $50,000 deposit; and a share payment of $400,000 at $0.02 per share, alongside a royalty arrangement that scales with production. This approach balances capital preservation with incentivizing long-term value creation.

Beyond Radio, WIN continues to advance its Butchers Creek Gold Project in the Kimberley region, as well as nickel and lithium projects near Kalgoorlie-Boulder. The Radio acquisition marks a pivotal moment, elevating WIN into the ranks of producers and diversifying its portfolio with a high-grade, operational gold mine.

Exploration and Growth Prospects

WIN’s geological team is set to evaluate historic gold prospects across the tenure, including the Manxman and Queenslander workings and extensions of the Mistletoe and Magpie prospects. The Radio deposit remains open at depth, with drilling planned to test mineralisation beyond the current 260-metre limit. Metallurgical testing supports excellent gravity recovery, which bodes well for processing efficiency and gold recovery rates.

As WIN integrates the Radio asset, the company faces the challenge of selecting the optimal development pathway to maximise shareholder returns, balancing underground mining with open pit opportunities and processing plant completion.