WIN Metals has secured approval for the Mine Development and Closure Plan at its Radio Gold Project, covering open-pit and underground mining, processing infrastructure and a tailings dam lift. The project still needs Works Approval, funding and a final investment decision before the proposed restart can proceed to construction.
- Mine Development and Closure Plan approved for Radio Gold
- Approval covers open pit, underground mining and 120,000tpa processing plant
- Works Approval application remains under assessment
- Funding discussions and final investment decision still ongoing
- 3,500m reverse-circulation drilling program scheduled for 20 November
Radio Gold development plan approved
WIN Metals Ltd (ASX:WIN) has cleared a significant regulatory step for its proposed Radio Gold restart, with Western Australia’s Department of Mines, Petroleum and Exploration approving the project’s Mine Development and Closure Plan.
The approval covers a new open pit, renewed underground development and production, a lift to the existing TSF2 tailings storage facility, and the operation of a dedicated 120,000-tonne-per-year carbon-in-leach processing plant. It also includes associated infrastructure and a new explosives magazine dangerous goods licence.
Works Approval remains the construction gate
The milestone follows Radio restart permits lodged, which covered the proposed processing plant and other restart approvals. WIN has since submitted the Works Approval application for the processing plant construction and tailings dam lift, but the Department of Water and Environmental Regulation is still assessing it.
That leaves the project short of a fully construction-ready position. The company says Works Approval is now the remaining regulatory hurdle before processing plant and tailings dam construction activities can begin, although separate building approval for a proposed camp and approval for its wastewater treatment plant also remain pending.
Funding and execution planning continue
WIN is continuing funding discussions, equipment procurement and detailed implementation planning ahead of a final investment decision. The funding question remains material: the company’s recent financing position was strengthened by the A$8.05m Astral receipt, but today’s announcement provides no new financing terms, capital estimate, operating-cost update or revised production schedule.
Site activity is nevertheless moving forward. Relocation of the acquired gravity plant is scheduled to begin on 16 November, while a 3,500-metre reverse-circulation drilling program at Radio, Princess Royal and Stumpy is scheduled to start on 20 November.
Restart remains tied to a small, high-grade resource
Radio’s 2026 global mineral resource is reported at 366,000 tonnes grading 4.22 grams per tonne gold for 49,600 ounces, comprising 25,500 ounces in the Indicated category and 24,100 ounces Inferred. The company says the project historically produced roughly 71,000 ounces at an average grade of 38 grams per tonne.
WIN’s managing director and CEO Steve Norregaard said the approval was an “important step in derisking” the restart strategy, with preparatory work and technical planning under way for recommissioning in the new year. That timing remains dependent on the outstanding approval, funding discussions and the final investment decision rather than the MDCP approval alone.
Bottom Line?
The regulatory path has narrowed, but Radio still needs Works Approval, committed funding and a final investment decision before construction risk gives way to operating execution.
Questions in the middle?
- When will DWER decide the Works Approval application for the plant and tailings lift?
- What funding structure and capital commitment will support the final investment decision?
- Will the November drilling program materially change Radio’s resource base or restart plan?