Wiluna Mining Corporation Limited (ASX:WMC) has officially commenced trading on the Australian Securities Exchange (ASX) today, 22 October 2026, following the successful completion of its A$180 million Initial Public Offering (IPO). Priced at A$0.65 per share, the IPO marks a significant milestone for the company, an Australian gold explorer and developer focused on its 100% owned Wiluna Gold Project in Western Australia. Argonaut Securities Pty Limited and Barrenjoey Markets Pty Limited acted as Joint Lead Managers.
The IPO proceeds are primarily allocated to a two-year work plan. This includes approximately 80,000 metres of underground resource definition and grade control drilling, alongside 140,000 metres of surface exploration drilling across identified targets. Funds will also support technical studies essential for underpinning restart plans for operations. Additionally, A$40 million will repay secured debt, positioning Wiluna to be debt-free shortly after listing.
Wiluna’s flagship asset, the Wiluna Gold Project, holds a 7.1 Moz Mineral Resource, with existing deposits open at depth and along strike. The project is supported by extensive existing infrastructure, estimated at over A$500 million replacement value, including a 2.1 Mtpa processing plant, a 750 ktpa flotation plant, a 14.1 MW gas-fired power station, and a 300-person camp. Concurrently with its listing, Wiluna confirmed the appointment of new Independent Non-Executive Directors: Craig McGown, Leigh Junk, and Deanna Carpenter.
Managing Director Victor Rajasooriar commented that the IPO provides the stable balance sheet necessary to progress work for a sustainable, long-term mine plan and an eventual operational restart. He added that the company’s immediate focus is on getting drills into the ground to advance the project.
