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Widgie Nickel Limited
(Sydney:WIN)
Widgie Nickel Limited (WIN) vs. iShares MSCI Australia ETF (EWA)
Widgie Nickel Limited Business Overview & Revenue Model
Widgie Nickel Limited Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -1.73M | -1.73M | -490.19K | -387.99K | -92.31K | 0.00 |
| EBITDA | -3.91M | -3.91M | -1.80M | -1.65M | -2.63M | -27.26K |
| Net Income | -33.77M | -33.77M | -2.30M | -2.06M | -2.04M | -27.26K |
Balance Sheet | ||||||
| Total Assets | 17.03M | 17.03M | 42.78M | 46.96M | 36.77M | 2.19M |
| Cash, Cash Equivalents and Short-Term Investments | 2.34M | 2.34M | 1.69M | 11.84M | 16.44M | 166.81K |
| Total Debt | 130.71K | 130.71K | 113.07K | 278.37K | 358.37K | 2.21M |
| Total Liabilities | 2.94M | 2.94M | 1.24M | 4.05M | 3.53M | 2.25M |
| Stockholders Equity | 14.09M | 14.09M | 41.54M | 42.91M | 33.24M | -60.80K |
Cash Flow | ||||||
| Free Cash Flow | -5.07M | -5.07M | -11.00M | -15.89M | -7.42M | -519.10K |
| Operating Cash Flow | -3.90M | -3.90M | -10.62M | -14.74M | -6.76M | -27.26K |
| Investing Cash Flow | 914.29K | 940.55K | -102.07K | -955.93K | -616.14K | -491.83K |
| Financing Cash Flow | 3.62M | 3.61M | 572.52K | 11.29M | 23.81M | 597.39K |
Widgie Nickel Limited Technical Analysis
Widgie Nickel Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
52 Neutral | AU$36.25M | -47.32 | -3.94% | ― | ― | 84.36% | |
51 Neutral | AU$13.67M | -2.03 | -16.74% | ― | -28.07% | -29.81% | |
45 Neutral | AU$28.29M | -0.39 | -121.41% | ― | ― | -1034.67% | |
45 Neutral | AU$22.98M | -3.22 | -213.22% | ― | ― | -15.38% | |
45 Neutral | AU$14.78M | -5.48 | -14.33% | ― | ― | ― |
Widgie Nickel Limited Corporate Events
Win Metals Ltd has lodged an application with the ASX for quotation of 78,714,253 new listed options, exercisable at $0.07 per share and expiring two years from their issue date of 3 February 2026. The options, issued on a one-for-two free attaching basis to recent placement shares and contingent on shareholder approval obtained at a 28 January 2026 general meeting, enhance the company’s capital structure and provide an additional potential source of future funding, which may support ongoing exploration and development initiatives and influence shareholder leverage to any future share price appreciation.
The most recent analyst rating on (AU:WIN) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Widgie Nickel Limited stock, see the AU:WIN Stock Forecast page.
Win Metals Ltd, listed on the ASX under the code WIN, has applied for quotation of an additional 285,714 fully paid ordinary shares. The company lodged a new Appendix 2A with the ASX on 3 February 2026, confirming that these securities were issued as part of a previously announced transaction, a routine step that modestly increases its quoted share capital and may slightly enhance liquidity for existing and new investors.
The most recent analyst rating on (AU:WIN) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Widgie Nickel Limited stock, see the AU:WIN Stock Forecast page.
Win Metals Ltd has released a transaction-specific options prospectus dated 2 February 2026 for an offer of up to 78,571,429 new options to participants in a recent placement and a further 142,857 new options to director Andrew Parker or his nominees. The highly speculative options will only be offered to eligible participants in Australia via application forms and are subject to standard ASIC and ASX regulatory frameworks, with the company emphasising that the document does not constitute financial advice and that investors should rely on the company’s broader continuous disclosure record when assessing the offer.
The most recent analyst rating on (AU:WIN) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Widgie Nickel Limited stock, see the AU:WIN Stock Forecast page.
WIN Metals has significantly upgraded the Mineral Resource Estimate at its wholly owned Radio Gold Project in Western Australia to 345,000 tonnes at 3.70 grams per tonne for 41,000 ounces of gold, marking a 46% increase in contained metal over the prior 2018 estimate. Around half of the resource, or 21,000 ounces, is now classified as Indicated, while maiden resources at the Repeater, Radio South and Green Harp domains have added roughly 12,900 ounces and highlighted the broader camp’s scale and optionality, including potential high-margin starter pits. Backed by about 9,000 metres of 2025 drilling and leveraging existing underground infrastructure and largely unmined near-surface material, WIN has commenced detailed mine design, scheduling and development studies, with further drilling and approvals work planned as it targets a potential development decision in 2026, subject to successful technical, economic and regulatory outcomes and with no Ore Reserves yet declared.
The most recent analyst rating on (AU:WIN) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Widgie Nickel Limited stock, see the AU:WIN Stock Forecast page.
WIN Metals Ltd has confirmed that all resolutions put to shareholders at its 28 January 2026 general meeting were passed by poll, including the ratification of prior share placements under Listing Rules 7.1 and 7.1A, approval to issue free attaching placement options, and approval to issue placement securities to director Andrew Parker. The strong poll support across all resolutions, with each carried by more than 97% of votes cast in favour, effectively validates the company’s recent capital-raising activities and provides additional flexibility for future funding, reinforcing its capital structure and governance backing from shareholders.
The most recent analyst rating on (AU:WIN) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Widgie Nickel Limited stock, see the AU:WIN Stock Forecast page.
WIN Metals reported a pivotal December quarter marked by the completion of a transformational Scoping Study for its 100%-owned Butchers Creek Gold Project, outlining a technically and financially viable standalone open pit and underground operation with a nine-year mine life, forecast recovered production of about 200,000 ounces of gold and strong project economics underpinned by high-grade feed and a conventional 600ktpa CIL processing plant. In parallel, the company delivered strong drilling results at the Radio Gold Project, extending high-grade mineralisation at the Repeater prospect and along strike at Radio Main and paving the way for a maiden Mineral Resource and potential near-term development options, while a A$5.5 million capital raising has strengthened the balance sheet to fund ongoing drilling, the advancement of Butchers Creek and general working capital, positioning WIN to progress its growth strategy and enhance shareholder value.
The most recent analyst rating on (AU:WIN) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Widgie Nickel Limited stock, see the AU:WIN Stock Forecast page.
WIN Metals has reported remaining assay results from its maiden 2025 drilling program at the 100%-owned Radio Gold Project in Western Australia, confirming shallow gold mineralisation at the historic Radio South and Green Harp mines and identifying near-surface ore-grade intercepts around the old Radio Mill. Surface sampling at the Repeater area has also confirmed outcropping main lode mineralisation, reinforcing the potential for low-cost, near-surface extraction and supporting the company’s strategy to advance Radio as a near-term production restart option in 2026, subject to studies and approvals, with work now focused on expanding Mineral Resources and optimising both open-pit and underground mine designs.
The most recent analyst rating on (AU:WIN) stock is a Hold with a A$0.03 price target. To see the full list of analyst forecasts on Widgie Nickel Limited stock, see the AU:WIN Stock Forecast page.
WIN Metals Ltd has called a General Meeting of shareholders to be held in Perth on 28 January 2026, setting 4:00 pm WST on 26 January 2026 as the record time for determining voting eligibility. The company is moving to primarily electronic distribution of meeting materials in line with Corporations Act provisions, encouraging shareholders to access the notice of meeting online and to lodge proxy votes electronically or via returned proxy forms by 10:30 am WST on 26 January 2026, underscoring a push for more efficient, digital-first governance processes and broad shareholder participation.
WIN Metals Ltd has disclosed a change in director Johannes Stig Norregaard’s indirect interests following the exercise of 7,684,500 vested performance rights into fully paid ordinary shares. The transaction, conducted at no cash consideration as part of the company’s 2024–2025 short-term incentive award, increases Norregaard’s total indirect shareholding while leaving his existing options and unvested performance rights unchanged, marginally boosting management’s equity alignment with shareholders.
WIN Metals Ltd has issued 7,684,500 fully paid ordinary shares following the exercise and conversion of an equivalent number of vested unlisted performance rights, expanding its share capital base. The company has confirmed that these shares were issued without a prospectus under the disclosure exemptions of the Corporations Act, and that it remains compliant with its financial reporting and continuous disclosure obligations, with no undisclosed information that would materially affect investors’ assessment of the company or the rights attached to the new shares.
WIN Metals Ltd has issued 157,142,857 fully paid ordinary shares at $0.035 per share under a placement announced on 12 December 2025, utilising its ASX Listing Rule 7.1 and 7.1A placement capacities. The company has confirmed that these shares were issued without a prospectus under the Corporations Act, and by lodging this notice it enables secondary trading of the new securities under the Act’s exemption regime, while asserting ongoing compliance with financial reporting and continuous disclosure obligations and indicating there is no undisclosed price-sensitive information relevant to investors’ assessment of the company or the rights attached to the new shares.
Win Metals Ltd has applied for quotation on the ASX of 157,142,857 new ordinary fully paid shares, with an issue date of 19 December 2025. The substantial share issuance, lodged via an Appendix 2A following a previously announced transaction, will expand the company’s quoted capital base and may have implications for its funding capacity, capital structure and liquidity for existing and new shareholders.
Win Metals Ltd announced a proposed issue of securities, including options exercisable at $0.07 per share and ordinary fully paid shares, with a total of 428,571 securities to be issued. This move is part of a placement or other type of issue, with the proposed issue date set for January 30, 2026, potentially impacting the company’s capital structure and market positioning.
Win Metals Ltd has announced a proposed issue of securities, which includes options exercisable at $0.07 per share expiring two years from the date of issue, and a significant number of ordinary fully paid shares. This move is expected to enhance the company’s capital structure and potentially improve its market positioning by attracting new investors and increasing liquidity.
WIN Metals Limited has successfully raised A$5.5 million through a heavily oversubscribed share placement, aimed at advancing its Radio Gold Mine and Butchers Creek Gold Projects towards production. The funds will be used for resource and exploration drilling, with the company expecting to enhance its production pathway amid high gold prices, thereby strengthening its market position and offering potential benefits to stakeholders.
WIN Metals Ltd, a company listed on the Australian Securities Exchange, has requested a trading halt pending an announcement regarding a capital raising. The trading halt is expected to last until the announcement is made or until normal trading resumes on December 12, 2025. This move is likely to impact the company’s operations and stakeholders as it prepares for the capital raising, which could influence its market positioning and financial strategy.
WIN Metals Ltd has announced a change in the director’s interest notice involving Johannes Stig Norregaard. The company issued 3,572,000 unlisted performance rights as a Short Term Incentive (STI) for the 2025-2026 award, following shareholder approval at the Annual General Meeting. This move reflects the company’s commitment to aligning director incentives with its strategic goals, potentially impacting its operational focus and stakeholder interests.
Win Metals Ltd has announced the issuance of unquoted equity securities, specifically 1,694,000 unlisted LTI options, which are set to vest on September 30, 2027, and expire on September 30, 2030, with an exercise price of $0.057. This move is part of an employee incentive scheme and reflects the company’s strategy to align employee interests with long-term company performance, potentially impacting its operational dynamics and stakeholder engagement.
Win Metals Ltd has announced the issuance of unquoted equity securities, including 6,911,000 performance rights and 1,406,000 options expiring in 2029, as part of an employee incentive scheme. This move is aimed at enhancing employee engagement and aligning their interests with the company’s long-term goals, potentially impacting the company’s operational dynamics and market positioning.
Widgie Nickel Limited, trading as WIN Metals Ltd, has issued 3,000,000 fully paid ordinary shares at $0.02 per share to settle fees for corporate and investor relations services. This issuance was conducted under the company’s Listing Rules 7.1 placement capacity and falls under the exemption provided by section 708A(5) of the Corporations Act, allowing for the on-sale of these shares without disclosure.
WIN Metals Ltd announced a change in the director’s interest notice involving Andrew James Parker. The change includes the acquisition of 500,000 fully paid ordinary shares and 250,000 unlisted options as part of the company’s August 2025 placement capital raising. This move reflects Parker’s increased stake in the company, potentially signaling confidence in the company’s future prospects and aligning with shareholder interests.
Win Metals Ltd has announced the application for quotation of 3,000,000 fully paid ordinary securities on the Australian Securities Exchange (ASX). This move is part of a previously announced transaction, indicating an expansion in the company’s market activities and potentially enhancing its financial standing and investor interest.
Widgie Nickel Limited, trading as WIN Metals Ltd, announced the issuance of 1,250,000 fully paid ordinary shares at $0.02 per share to its directors, following shareholder approval at the recent Annual General Meeting. This move is part of the company’s capital raising efforts initiated earlier in the year, and the shares are exempt from resale restrictions under section 708A(5) of the Corporations Act, ensuring compliance with relevant disclosure requirements.
Win Metals Ltd has announced the issuance of 11,750,000 unquoted securities, specifically options expiring on November 28, 2027, at an exercise price of $0.04. This issuance is part of previously announced transactions and is not intended to be quoted on the ASX, indicating strategic financial maneuvers that may impact the company’s future market positioning and stakeholder interests.
Win Metals Ltd has announced the issuance of 625,000 unquoted securities with an expiration date of November 28, 2027, at an exercise price of $0.04. This issuance is part of previously announced transactions and is not intended to be quoted on the ASX, reflecting the company’s ongoing financial strategies and potential impacts on its market positioning.
Win Metals Ltd has announced the application for the quotation of 1,250,000 ordinary fully paid securities on the Australian Securities Exchange (ASX). This move is part of a transaction previously announced, and it marks a significant step in the company’s efforts to enhance its market presence and provide more liquidity for its stakeholders.
WIN Metals Ltd has announced significant high-grade gold intercepts from its recent drilling program at the Radio Gold Project in Western Australia. The results reveal strong potential for expanding the project’s mineral resource base, with new intercepts confirming high-grade mineralization both at depth and along strike. This development underscores the potential for substantial growth in the company’s resource inventory, enhancing its position in the gold mining sector.
Win Metals Ltd, operating under the ASX issuer code WIN, announced the issuance of 58,757,291 unlisted options exercisable at $0.04, set to expire on November 28, 2027. This issuance, part of previously announced transactions, reflects the company’s strategic financial maneuvers to potentially enhance its capital structure and market positioning.
Widgie Nickel Limited announced that all resolutions proposed at its Annual General Meeting held on November 26, 2025, were passed by a poll. The resolutions included the adoption of the remuneration report, re-election of directors, approval of mandates, and ratification of prior share issues. This successful outcome reflects strong shareholder support and positions the company to continue its strategic initiatives, potentially enhancing its market positioning and operational capabilities.
WIN Metals Limited has released a presentation detailing its recent exploration and scoping study results across several projects, including the Radio Gold Project and Butchers Creek Gold Project. The announcement highlights the company’s strategic focus on resource growth and development, aiming to strengthen its position in the mining sector. The presentation underscores the company’s commitment to advancing its gold and nickel projects, with significant updates on mineral resource estimates and exploration targets.
WIN Metals Limited has provided updates on its various projects, including the Radio Gold Project and Butchers Creek Gold Project, highlighting significant exploration results and resource estimates. The company’s recent announcements emphasize the robust scoping studies and resource growth, which are expected to enhance its position in the mining industry and potentially impact stakeholders positively by advancing its gold and nickel developments.
WIN Metals Ltd has completed a Scoping Study for the Butchers Creek Gold Project in Western Australia, confirming the technical and financial viability of establishing a standalone gold operation. The project is expected to have a 9-year mine plan with peak production of 37,000 ounces of gold per year, offering substantial opportunities for resource growth and increased cashflow. This development marks a significant milestone for WIN, potentially delivering lasting value to shareholders and economic benefits to the Kimberley region. However, the project requires further exploration and funding, with uncertainties around the availability of financing and the realization of production targets.
Widgie Nickel Limited has announced the release of 70 million fully paid ordinary shares from a voluntary escrow on November 21, 2025. These shares were initially placed under a twelve-month escrow period following the company’s acquisition of the Butchers Creek Project. This release marks a significant step in the company’s strategic operations, potentially impacting its market liquidity and shareholder value.
WIN Metals Ltd has announced a change in the director’s interest notice, specifically concerning Johannes Stig Norregaard. The change involves the lapse of 120,966 unexercised unlisted options that expired on October 31, 2025. This adjustment in securities holdings reflects the director’s updated financial interests in the company, which may influence stakeholders’ perspectives on the company’s governance and financial strategies.
WIN Metals Ltd has announced promising assay results from its maiden drilling campaign at the Radio Gold Project, revealing multiple high-grade gold intercepts, including up to 33.95 g/t Au. The mineralization at the Repeater prospect is open to the north and at depth, indicating significant potential for resource growth. These results position the project as a key growth asset in a rising gold market, capable of delivering substantial shareholder value.
Win Metals Ltd has announced the application for quotation of new securities on the Australian Securities Exchange (ASX). The company is set to quote 52,736 fully paid ordinary securities as of November 3, 2025, following the exercise of options or conversion of other convertible securities. This move could potentially enhance the company’s liquidity and market presence, providing stakeholders with increased opportunities for investment.
Win Metals Ltd has announced the cessation of a significant number of its securities, specifically 15,909,316 options that expired on October 31, 2025, without being exercised or converted. This development may impact the company’s capital structure and could have implications for its market positioning and stakeholder interests.