Wishbone Gold (LSE:WSBN) has been awarded a 67 km² exploration tenement following a contested ballot over crown land located roughly 25 km north-west of the Telfer gold mine in Western Australia. The newly granted licence, E45/7169, will be integrated into the company’s existing access and heritage arrangements with Greatland Gold, strengthening Wishbone’s land position in the vicinity of a major producing operation.
The tenement benefits from established access via the main road linking Telfer and Marble Bar and will form part of the company’s ongoing evaluation work as it prepares for the 2026 drilling campaign at its Red Setter project, which is scheduled to commence in April. Assay results from the 2025 Red Setter drilling programme are expected shortly and are set to inform the scope and targeting of the 2026 drill plans, potentially acting as a near-term catalyst for market interest.
From an investment standpoint, the outlook continues to be constrained by the company’s early-stage financial profile, with no revenue, ongoing losses and negative free cash flow, albeit with some signs of improvement. Share price technicals are mixed, showing broadly neutral momentum without a clear trend, while valuation support remains limited due to negative earnings and the absence of a dividend.
More about Wishbone Gold
Wishbone Gold is an exploration company listed on AIM and Aquis, focused on gold and copper assets in Western Australia. Its portfolio includes the Red Setter copper-gold project and a growing suite of exploration licences surrounding the established Telfer gold mine and near the Nifty Copper Mine, placing the company within a well-known and highly prospective mining district.
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