Redcastle Resources Limited is looking for alternative processing pathways for ore from the Redcastle Gold Project after Wiluna Mining Corporation suspended all surface and tailings reprocessing operations and deferred anticipated third-party free-milling ore tolling activities.

The processing delay follows the rupture of a Carbon-in-Leach tank at the Wiluna Gold Project processing plant in late July 2026. Rather than expending the capital required to immediately reinstate the damaged infrastructure, Wiluna concluded that it is in its best interests not to commit funds at this time. The decision allows the company to properly assess and right-size the processing plant as part of its long-term operational strategy. The suspension of these activities has also necessitated a corporate and site-based workforce restructure resulting in redundancies.

Under the Redcastle-BML Ventures Joint Venture, BML Ventures acts as the operator and funds 100% of mining and working capital requirements through to first revenues. Previous project schedules had targeted initial ore haulage for June 2026 and first toll treatment at Wiluna for July 2026. Those timelines are now impacted by the tolling deferral, forcing the joint venture to review multiple alternative processing options for extracted material.

While surface and tolling operations remain on hold, underground work at Wiluna continues alongside plans to launch an initial public offering in the third quarter of 2026 and relist on the ASX, backed by $46.5 million in cash on hand as of 30 June 2026. Wiluna Managing Director Victor Rajasooriar emphasised that despite the restructuring, the company maintains strong conviction in the asset:

“Importantly, Wiluna retains a strong belief in the long-term potential of the Project. Underground rehabilitation, dewatering and diamond drilling activities continue, and we remain focused on positioning the business to maximise the value of our substantial mineral resources.”

— Victor Rajasooriar, Managing Director

Redcastle and its joint venture partner continue to assess alternative avenues to progress the Redcastle Gold Project towards production.

Read the full announcement: Company Update