WIN Metals has entered into a binding memorandum of understanding to acquire the Radio gold mine from Top Global Mining. The deal, announced recently, includes tenements, mining and processing assets, accommodation facilities, vehicles, and equipment. Located 38 km north of Southern Cross in Western Australia’s Yilgarn region, approximately 400 km east of Perth, the mine is poised to resume operations with existing infrastructure.

The Radio Gold Mine is ready to restart operations, with essential infrastructure in place.

The acquisition involves an upfront payment of A$500,000 and A$400,000 in share consideration, alongside a deferred royalty on gold sales. The transaction awaits regulatory and third-party approvals, with shares to be issued under WIN’s placement capacity. The Radio gold mine benefits from prior investments of A$30 million ($19.3 million), including a 70% complete processing facility, development to the second level, mobile mining equipment, power generators, and compressed air systems.

The 2018 Mineral Resource Estimate indicates 210,000 tonnes at 4.23 grams per tonne, totaling 28,600 ounces of gold. The deposit remains open beyond 260 meters, suggesting potential for additional mineralization at depth. WIN Metals plans to conduct 7,000 meters of shallow drilling to define resources and update the Mineral Resource Estimate to guide mining studies.

WIN Metals managing director and CEO Steve Norregaard highlighted the strategic value: “Radio represents a fantastic opportunity for WIN to acquire a fully permitted gold mine capable of generating near term cash flow harnessing the current elevated gold price. The site is fully prepared to restart underground production, with a partially completed processing facility and significant operations-ready infrastructure that has the potential to allow WIN to consider the option of processing its own ore and reducing dependence on delayed payments often associated with toll milling.”

Norregaard added: “WIN will initially evaluate short-term open-pit opportunities near existing workings at Radio Repeater, Radio South and the central near-surface Radio resource. These targets, believed to have been previously overlooked, could potentially deliver immediate cash flow.” The company aims to assess the existing processing plant investment and explore underground mining opportunities to maximize the site’s potential.

This acquisition positions WIN Metals to capitalize on favorable gold market conditions while enhancing its operational capabilities through both open-pit and underground mining strategies in Western Australia.