WIN Metals Ltd

Description

WIN Metals Ltd is a Western Australian explorer and developer pivoting toward near-term gold production. Its flagship is the 100%-owned Radio Gold Project, a historic underground mine with existing decline access, site infrastructure and a secured processing-equipment option.

The investment case is a relatively low-capital restart pathway at Radio combined with a larger development platform at Butchers Creek and additional nickel and lithium optionality. The Radio restart study outlines an initial 29-month operation with approximately A$19M peak pre-finance funding, while key restart permit applications were lodged in September 2026.

Radio contains approximately 366,000 t at 4.2 g/t Au for 49.6 koz and a production target of about 20.2 koz recovered. Butchers Creek contains approximately 359 koz Au and supports a nine-year scoping-study plan. WIN also controls substantial nickel and lithium resources in Western Australia.

List of Projects:

Project 1: Radio Gold Project, Southern Cross, Western Australia — Gold
100%-owned near-term flagship. Contains approximately 49.6 koz at 4.2 g/t Au with existing underground development and site infrastructure. The restart study targets approximately 20.2 koz recovered over 29 months through a 120,000 tpa plant.

Project 2: Princess Royal, Southern Cross, Western Australia — Gold
100%-owned satellite to Radio. Historical production totaled approximately 13.9 koz at 21 g/t Au. A conceptual exploration target remains outside the current Radio production target.

Project 3: Butchers Creek Gold Project, East Kimberley, Western Australia — Gold
100%-owned development-stage project containing approximately 359 koz Au across Butchers Creek and Golden Crown. The nine-year scoping study is supported by additional exploration targets including Emjay, Ruby Queen North and Ganymede.

Project 4: Mt Edwards Nickel Project, Western Australia — Nickel
100%-owned nickel portfolio containing twelve sulphide deposits with approximately 12.66 Mt at 1.43% Ni for 180.9 kt contained nickel. Development timing depends on nickel-market conditions.

Project 5: Faraday-Trainline Lithium Project, Western Australia — Lithium
100%-owned, fully permitted lithium project containing approximately 1.96 Mt at 0.69% Li2O, including a higher-grade near-surface component.

Weakness

List of projects

Project details have not been added yet.

Deep dive series

Track progress timeline

Forecast share price