WIN Metals Finalises Acquisition of High-Grade Radio Gold Mine in WA
WIN Metals (ASX: WIN) has completed its acquisition of the historic Radio Gold Mine in Western Australia’s Yilgarn district, securing an asset with an unusually high-grade production history and the advantage of existing infrastructure.
The mine, which sits just north of Southern Cross, has long been regarded as one of the richest deposits in the belt, with historical records showing it produced 71,000 ounces of gold from 1918 to 1974 grades above 38 grams per tonne.
For WIN, the transaction represents not only the chance to deliver early cash flow but also the opportunity to build a growth platform around a project with exploration upside both at depth and along strike.
Historical Asset with Proven Grade
Operations at the Radio mine began in the early 1900s but the broader lease is yet to undergo systematic modern exploration.
Mining ceased in the 1990s, leaving workings that ended in mineralisation, on which WIN believes it can use targeted drilling to extend and potentially redefine for modern development.
The project has connections to sealed roads, grid power and water supplies, sharply reducing the capital intensity of a restart, while the surface facilities and underground access in place offer a foundation for refurbishment as opposed to a complete rebuild.
WIN’s technical team has already begun reviewing the underground workings and is assessing scenarios for both open-pit and underground operations.
By leveraging the existing infrastructure, the company expects to shorten the time to potential production compared with typical greenfield projects.
Broader Production Hub
The company has identified several regional targets across the tenure, presenting the possibility of building a broader production hub anchored by the Radio mine.
In parallel with restart studies, WIN is preparing drill programs to confirm historical results and extend known mineralised zones, as well as modelling geological data to lay the groundwork for a new Mineral Resource Estimate.
Management described the acquisition as a pivotal step in transforming WIN from explorer to producer.
“With the Radio acquisition, we have secured a ‘ready-to-go’ gold asset with the potential to generate near-term cash flow, harnessing the strength of the current gold price,” chief executive officer Steve Norregaard said.
“WIN now has multiple development pathways ahead, and we remain firmly focused on selecting the strategy that delivers maximum value for our shareholders.”