Wiluna Mining raises $180m in IPO to revive WA goldfield
Wiluna Mining launches a $180 million IPO at 65 cents per share to develop 7.1 million ounces of gold in Western Australia.
Wiluna Mining is relisting on the ASX with a $180 million IPO priced at 65 cents per share. The offer will pay off $40 million in debt and fund $18.5 million in exploration drilling.
Wiluna holds 7.1 million ounces of gold resources. Of these, 4.95 million ounces sit in underground deposits grading 4 grams per tonne.
The company claims it is Australia's fourth-largest undeveloped gold resource. The mine's last iteration collapsed into administration in 2022 during lower gold prices.
Prices have now surged to around $6,000 per ounce in Australian dollars. Once operational, Wiluna's processing plant could serve nearby junior explorers like WA Gold.
Their Abercromby project sits 20 kilometres away. The revival comes as other WA goldfields like Plutonic and Murchison enjoy major comebacks on soaring gold prices.
- $180 million
- IPO size
- 65 cents
- Share price
- 7.1 million ounces
- Gold resources
- $6,000 per ounce AUD
- Gold price
Why it mattersHigh gold prices and a processing plant location make WA juniors valuable, turning regional exploration into a consolidation opportunity.
AustraliaAustralian junior gold explorers near Wiluna gain access to a major processing hub, making smaller deposits economically viable.
✓ Claims checked against the source and corrected before publish. checked 2 h ago
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