WIN Metals Secures $2.35M Placement at $0.02 per Share for Gold Projects

Strategic Capital Raise to Accelerate Growth

WIN Metals Limited (ASX, WIN) has announced a successful capital raising of A$2.35 million through a heavily oversubscribed share placement priced at $0.02 per share. The placement attracted strong demand from both existing and new sophisticated investors, underscoring confidence in the company’s growth strategy focused on gold exploration in Western Australia.

The funds raised will primarily support an accelerated drilling program at the recently acquired high-grade Radio Gold Mine, located in the Yilgarn region, as well as ongoing resource expansion and evaluation work at the Butchers Creek Gold Project in the Kimberley region. Drilling at Radio is slated to begin within weeks, pending finalisation of acquisition documentation.

Unlocking Value at Radio and Butchers Creek

The Radio Gold Mine represents a near-term production opportunity for WIN Metals, with the company targeting extensions of high-grade mineralisation to drive resource growth and advance development planning. Meanwhile, Butchers Creek, a historic gold production centre with a current global resource of approximately 359,000 ounces, will benefit from further drilling aimed at expanding its resource base and progressing towards a high-grade mining operation.

WIN Metals’ Managing Director Steve Norregaard expressed optimism about the capital raise and upcoming work, highlighting the company’s commitment to delivering value to shareholders through active exploration and development. The accelerated drilling programs are expected to generate a steady flow of news and results, potentially positioning WIN Metals to capitalise on the prevailing strong gold price environment.

Placement Details and Governance

The placement shares will be issued under the company’s existing placement capacity, with 117.5 million shares allocated at an 18% discount to the 10-day volume weighted average price. Additionally, WIN Metals plans to issue one unlisted option for every two shares placed, exercisable at $0.04 and expiring in two years, subject to shareholder approval at the upcoming Annual General Meeting scheduled for late November 2025.

The AGM will also seek approval for directors to participate in the placement on the same terms, reinforcing alignment between management and shareholders. Joint Lead Managers GBA Capital and SP Corporate Advisory facilitated the placement, receiving a 6% fee and options as part of their remuneration.

Broader Portfolio and Strategic Outlook

Beyond gold, WIN Metals holds significant nickel and lithium resources in Western Australia, including the Mt Edwards Nickel Project and the Faraday-Trainline Lithium Project, which add diversification and optionality to the company’s portfolio. The strategic focus on advancing gold assets with near-term production potential reflects a pragmatic approach to value creation amid a supportive commodity price backdrop.

As WIN Metals moves forward with its drilling campaigns and awaits shareholder approvals, the market will be watching closely for assay results and updates that could validate the company’s resource expansion ambitions and underpin a pathway to production.