WIN Metals has signed a memorandum of understanding to acquire the Radio gold mine from Top Global Mining, including tenements, assets, and infrastructure. The deal involves an upfront payment of A$500,000 and share consideration of A$400,000, with deferred royalties. The mine is ready for operation, with a resource estimate of 28,600oz of gold.

WIN Metals plans to restart underground production at the Radio gold mine and explore open-pit opportunities through drilling. The company aims to reduce dependence on toll milling and evaluate the potential for processing plant investment. The deposit remains open for further exploration, with opportunities for immediate cash flow from nearby targets.

The acquisition of the Radio gold mine in Western Australia presents a significant opportunity for WIN Metals to generate near-term cash flow. With infrastructure in place and potential for expansion, the company is well-positioned to capitalize on the current elevated gold prices. The deal is subject to regulatory approvals and completion.

Read more at Yahoo Finance: WIN Metals to buy Western Australia’s Radio gold mine