WIN Metals (ASX:WIN) has completed its acquisition of the Radio Gold Mine in Western Australia, from privately held Top Global Mining.
In August 2025, both companies entered into a memorandum of understanding, in which WIN paid a $50,000 non-refundable deposit and a $500,000 cash payment to Top Global. The company also issued $400,000 worth of shares issued at $0.02 per share.
The mine according to WIN is ready to recommence operations, with key infrastructure already in place.
WIN, which has a market capitalisation of 14.68 million, is implementing a new strategy for the asset, with the approach to build on the prior investment of more than $30 million by former owners.
The company intends to focus on assessing short-term open pit opportunities near existing workings at Radio Repeater, Radio South, and central near-surface resources.
CEO Steve Norregaard says the company has secured a ready-to-go gold asset with potential to generate near-term cashflow.
“The site is fully prepared for a restart of underground production, supported by a partially constructed processing facility and significant existing infrastructure,” Norregaard says.
“This positions WIN to consider processing its own ore onsite, reducing reliance on toll milling and associated delays. Radio represents an ideal stepping stone to elevate WIN into the ranks of producers at one of Western Australia’s historically highest grade gold mines.”
Since 2015, Resources and Energy Group (ASX:REZ) mined and processed 3,193 tonnes @ 5.66 grams per tonne gold, producing 581 ounces of gold.
This news comes after gold reached another record high, touching the US$3,750 per ounce mark, following hopes of more interest rate cuts from the Federal Reserve this year.
As Mining.com.au reported, gold’s price had risen 11.51% over the past month, as of 23 September 2024, and is up 41.24% compared to the same time last year.
WIN Metals is a junior mineral explorer focused on its granted tenure in the Southern Goldfields and Kimberley regions of Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: WIN Metals
