WIN Metals Lodges Key Permits to Restart High-Grade Radio Gold Project
Key Takeaways
- WIN Metals lodged the Mine Development and Closure Plan (MDCP) with DMPE on 11 September 2026 and a Works Approval application with DWER on 18 September 2026 — both required before construction of the new processing plant can commence.
- The Works Approval covers a new 120,000 tpa gravity and CIP processing plant plus a raise of the existing tailings storage facility, which already has capacity for 450,000 tonnes of new tailings.
- The Radio Gold Project holds a 2026 Mineral Resource Estimate of 366,000t at 4.2 g/t Au for 49,600 oz — a 73% increase from the prior estimate — with existing underground access, a dewatered mine, and a completed 330m decline already in place.
- A low-capital restart study completed earlier in 2026 pegged all-in cost to first production at approximately $19M, anchoring the FID conversation around a relatively modest capital threshold.
- Management has flagged securing project funding and reaching a Final Investment Decision as the next key milestones, with extensional drilling and regional resource additions identified as pathways to extend mine life ahead of FID.
Permits lodged as WIN Metals clears a major pathway to restart Radio Gold
WIN Metals (ASX: WIN) has lodged two key permit applications required for the restart of its Radio Gold Project, located approximately 8 km north of Bullfinch in Western Australia’s Eastern Goldfields. The Mine Development and Closure Plan (MDCP) was submitted to the Department of Mines, Petroleum and Exploration (DMPE) on 11 September 2026, followed by a Works Approval application to the Department of Water and Environmental Regulation (DWER) on 18 September 2026.
The Works Approval covers construction of a new 120,000 tonne per annum (tpa) gravity and carbon-in-pulp (CIP) processing plant, as well as an embankment raise of the existing tailings storage facility (TSF2). These are procedural milestones, not production announcements, but they represent a necessary and material step forward in the company’s restart programme.
Steve Norregaard, Managing Director and CEO
“The lodgement of these key permit applications represents another solid step forward in our restart schedule for Radio. Now with a clear roadmap to redevelopment mapped out we can turn our minds to funding requirements leading to an FID decision and building the project bona fides through mine life extensions and addition of other resources in the region.”
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What these permit applications actually mean
For investors unfamiliar with the Western Australian mining approvals process, it helps to understand what each of these documents does and why they are required before a project can advance to construction or mining.
The MDCP provides a detailed description of the project, its environmental setting, potential impacts, proposed management measures, and mine closure obligations. It demonstrates to regulators that the company has completed appropriate design, risk assessment, and environmental planning to support development. Think of it as the comprehensive operational blueprint that the government reviews before authorising mining activity.
The Works Approval is a separate instrument that quantifies planned emissions and discharges to the environment and outlines the mechanisms proposed to manage them. It is specifically required before construction of processing infrastructure can commence.
WIN’s subsidiary, Yilgarn Precious Metals Pty Ltd (YPM), already holds an Environmental Licence for Category 6 (Mine Dewatering) and Category 64 activities at the site. This Works Approval application seeks the additional Category 5 approval, which covers the beneficiation (physical processing) of metallic or non-metallic ore. Lodgement means these applications are now under government review. Approval is the next regulatory gate and is not guaranteed or imminent.
A high-grade project with infrastructure already in place
The Radio Gold Project carries genuinely standout historic credentials. Gold mining at the site commenced in 1918, with approximately 71,000 oz Au produced at an average head grade of 38 g/t Au between 1918 and 1974. That grade is exceptional by any modern standard and speaks to the quality of the mineralised system.
WIN’s 2026 Mineral Resource Estimate for the project totals 366,000t at 4.2 g/t Au for 49,600 oz of contained gold, as set out below.
The Radio Gold resource expansion that delivered the current 49,600 oz estimate represented a 73% increase from the prior figure, with additional drilling confirming grade continuity across both the Indicated and Inferred categories.
| Classification | Tonnes | Grade (Au g/t) | Contained Gold (oz) |
|---|---|---|---|
| Indicated | 200,000 | 4.0 | 25,500 |
| Inferred | 166,000 | 4.5 | 24,100 |
| Total | 366,000 | 4.2 | 49,600 |
Figures are rounded and reported at 0.5 g/t cut-off to 50m below surface (open pit) and 1.0 g/t below 50m.
Beyond the resource, the site’s existing infrastructure meaningfully de-risks the restart proposition. Key assets already in place include:
- Underground access shaft intact
- New surface portal and 330m of decline to the historic second level completed
- Mine dewatered and ready
- Shallow open pit to 25m depth completed, with near-surface mineralisation largely unmined
- Existing TSF2 on site, with capacity to be raised to accommodate 450,000t of new tailings
Underground operations were re-established in 2018 using the existing shaft, followed by mechanised decline development. The combination of a dewatered mine, functioning underground access, and an existing tailings facility positions Radio as a potentially rapid restart candidate, once regulatory approvals are secured.
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What’s next: funding, FID, and project extension
Permit approval, not simply lodgement, is the next regulatory gate the company must clear. Beyond that, management has flagged two further milestones as the focus of near-term corporate activity: securing project funding and reaching a Final Investment Decision (FID).
A low-capital restart study completed earlier in 2026 pegged the all-in cost to first production at approximately $19M, anchoring the FID conversation around a relatively modest capital threshold for a project with existing underground access and a functioning tailings facility.
Extensional drilling and the addition of regional resources are identified pathways for extending mine life and strengthening the project’s investment case ahead of FID. No production timeline has been stated in the announcement.
Radio sits within a broader portfolio that gives WIN Metals exposure across multiple commodities and regions. The company also holds the Butchers Creek Gold Project in the Kimberley (5.6 Mt at 1.98 g/t Au for 359,000 oz), the Mt Edwards Nickel Project near Widgiemooltha (12.7 Mt at 1.43% Ni for 180,900t of contained nickel), and the Faraday-Trainline Lithium Project (1.96 Mt at 0.69% Li₂O). These assets provide diversification context, though Radio is the current operational focus as the company progresses through the regulatory approvals process.
Ready to Follow WIN Metals’ Progress Towards the Radio Gold Restart?
The lodgement of two key permit applications marks a material step forward for WIN Metals as it works to restart the high-grade Radio Gold Project, with a $19M all-in cost study and existing underground infrastructure already underpinning the investment case.
Stay across the latest developments by visiting the WIN Metals project profile on Discovery Alert, where you can track regulatory milestones, resource updates, and the company’s path to a Final Investment Decision.