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Western Mines Group Ltd (ASX:WMG)

ALERT: Price-sensitive ASX Announcement for WMG
Current share price for WMG : $0.180 -0.055 (-23.40%)+
Announcement
Release
9 Feb 2026 9:52AM
Price at Release
$0.235
Full Release
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Summary
The Western Mines Group Ltd's company presentation, dated February 2026, outlines its flagship Mulga Tank Ni-Co-Cu-PGE Project in Western Australia. The project is described as a significant exploration venture within the under-explored Minigwal Greenstone Belt, featuring a camp-scale opportunity. With a strategic assembly of a 425 square kilometer position, the project targets the Perseverance and Mt Keith exploration models, aiming for both disseminated and high-grade massive sulphide deposits. WMG reports a total mineral resource estimate of 1,968 million tonnes at 0.27% Ni, positioning it as the largest nickel sulphide deposit in Australia and among the top 10 worldwide. The focus is on enhancing the project's NPV with potential high-grade zones and extensive exploratory drilling programs. The company's capital structure is tightly managed with a market cap of approximately $26.73 million, and it is highly leveraged to its exploration successes. The presentation highlights the strategic significance of nickel and its increasing demand, driven by its role in stainless steel production and electric vehicle battery chemistry.
Key Points
  • Western Mines Group Ltd presents its Mulga Tank Ni-Co-Cu-PGE Project.
  • Project located in the Minigwal Greenstone Belt in Western Australia.
  • Targets Perseverance and Mt Keith exploration models for nickel deposits.
  • Resource estimate of 1,968 million tonnes at 0.27% Ni.
  • Largest nickel sulphide deposit in Australia, top 10 globally.
  • Exploration includes targeting high-grade zones to optimize NPV.
  • Tightly managed capital structure with a market cap of $26.73 million.
  • Emphasizes strategic importance of nickel in various industries.
  • Plan involves extensive drilling programs and leveraging exploration success.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.