Wishbone Gold
Wishbone Gold Plc is a pre-revenue mineral exploration company (AIM/AQSE: WSBN) exploring for gold, silver, copper and lead across six projects in Western Australia and Queensland, anchored by its flagship Red Setter tenement in the Paterson Province near Telfer and Havieron.
- Company typePublic
- Founded2012
- HeadquartersLondon, United Kingdom
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Wishbone Gold does
Wishbone Gold Plc is a publicly listed mineral exploration company (AIM and AQSE, ticker WSBN) domiciled in Gibraltar with operational headquarters for its exploration activities in Perth and Brisbane, Australia. Founded in 2012, the company focuses exclusively on early-stage gold, silver, copper and lead exploration across six projects in two of Australia's premier mining jurisdictions — the Paterson Province of Western Australia (Red Setter, Cottesloe, Anketell) and the Charters Towers–Ravenswood corridor of Queensland (White Mountain, Wishbone II/IV/VI). Its flagship asset, the 57.4 km² Red Setter Project, is the principal driver of value, sitting approximately 13 km from Newcrest Mining's 26 Moz Telfer Gold Mine and 60 km from Greatland Gold's Havieron discovery in the Paterson Range.
The company's underlying technology stack is conventional but competently executed: high-resolution airborne magnetic surveys (100 m line spacing), 3D magnetic inversion modelling (producing targets of roughly 1 km diameter), MobileMT electromagnetic processing, and traditional reverse-circulation and diamond drilling programmes. Strategic emphasis is placed on Havieron/Telfer-style alteration and magnetic signatures as exploration analogues. The largest work programme to date is a ~10,000-metre, 25-hole drill campaign at Red Setter in 2026, following shallow 45-metre gold intercepts. Other advanced targets include the 165 km² Cottesloe silver-lead system (rock chips up to 298 g/t Ag) and the 14,700-hectare Wishbone II/IV/VI gold-copper block in Queensland, sited adjacent to inferred reserves of more than 10 Moz.
Wishbone is pre-revenue and has no product pricing model. Its revenue mechanics consist of (i) periodic equity capital raises on AIM/AQSE (most recently £1.1 m institutional with TVR in April 2026 and £4 m earmarked for Red Setter in 2025), (ii) occasional non-dilutive government co-funding such as the A$220,000 Western Australian EIS grant for Cottesloe, and (iii) the intended future monetisation of mineral resources via sale, joint venture, or acquisition by a major mining company. Shareholders are the de facto primary 'customers' — a 34.4 million-share register concentrated in major UK retail platforms (Interactive Investor 22.22%, Hargreaves Lansdown 14.84%) — alongside prospective strategic acquirers such as Newcrest and Greatland Gold.
Wishbone Gold firmographics
Firmographics- Name
- Wishbone Gold
- Legal name
- Wishbone Gold Plc
- Website
- https://wishbonegold.com
- Company type
- Public
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Wishbone Gold Plc is a pre-revenue mineral exploration company (AIM/AQSE: WSBN) exploring for gold, silver, copper and lead across six projects in Western Australia and Queensland, anchored by its flagship Red Setter tenement in the Paterson Province near Telfer and Havieron.
- Ownership category
- akta.pro rank
Wishbone Gold industry classification
Industry- Product category
- Mineral Exploration Services
- NAICS
- Gold Ore and Silver Ore Mining (212220)
- SIC
- Gold And Silver Ores (1040)
- akta.pro primary industry
- Precious Metals Exploration & Project Development (IMAKAEAI)
- akta.pro secondary industries
- Gold Mining (IMAKAEAA), Silver Mining (IMAKAEAB), Exploration & Production Drilling Services (RC, Core, Directional, Sonic, Auger) (IMAKAKAB)
Keywords
Where Wishbone Gold is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices4 records
Markets served
Wishbone Gold business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- Asset Development and Exit: Pre-revenue exploration company. Value creation through discovering and defining mineral resources, then either selling assets, entering joint ventures, or being acquired by major mining companies. No current production revenue.
- Government Grants: Occasional government co-funding for exploration drilling, such as the A$220,000 grant from Western Australian government for Cottesloe drilling.
- Equity Capital Markets: Raising equity through institutional fundraises on AIM/AQSE to fund exploration activities. Includes fundraises like £4m to accelerate Red Setter drilling and £1.1m institutional fundraise.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels8 records
Wishbone Gold product offering
Product offeringCore offering
Wishbone Gold Plc is a precious and base metals exploration company focused on discovering and developing gold, silver, copper, lead, and other mineral resources across multiple exploration projects in Australia. The company conducts systematic exploration using airborne magnetic surveys, geophysical modelling, reverse circulation drilling, and diamond drilling to identify and define mineral deposits, with the intent of advancing assets toward development, joint venture, or sale to major mining companies.
Product overview
Wishbone Gold Plc operates as a precious and base metals exploration company with a portfolio of six exploration projects across Australia. The company's flagship project is Red Setter (gold-copper) in Western Australia's Paterson Province, complemented by the Cottesloe Project (silver-lead) also in Western Australia. The Queensland portfolio includes White Mountain (polymetallic) and the Wishbone II, IV & VI licenses (gold-copper) in the Mingela-Charters Towers region. The company conducts systematic exploration using airborne magnetics, reverse circulation drilling, and diamond drilling to test targets for mineralisation. Wishbone Gold WA Pty Ltd manages Western Australian operations while Wishbone Gold Pty Ltd manages Queensland operations.
Differentiator
Problem solved
Functional benefit
Products and services
- Red Setter Project A 57.4 sqkm gold and copper exploration project located in Western Australia's Paterson Province, approximately 13km southwest of Newcrest Mining's Telfer Gold Mine and 60km west of the Havieron discovery. The project features Havieron/Telfer-style gold prospects with identified magnetic targets.
- Cottesloe Project
- White Mountain Project
- Wishbone II, IV & VI Projects
- Anketell Project
Quantifiable outcome
- Share price increased 308% on Aquis in 2025, making Wishbone Gold the second-best performer
- +2 more outcomes
Companies that use Wishbone Gold
Customer profileSegments2 records
Ideal customer profiles2 records
Wishbone Gold technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Wishbone Gold partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered minor and core.
- Antipa-Rio Tinto JVminorThe Antipa-Rio Tinto JV Citadel Project surrounds Wishbone's Anketell tenement to the north and west, with Rio earning 75% of the Citadel Project through a $60M investment. This proximity indicates similar geological prospectivity in the Paterson Province.
- Newcrest Mining (Telfer Operations)coreWishbone's Red Setter project is located approximately 13km southwest of Newcrest Mining's Telfer Gold Mine, a world-class 26Moz deposit. The proximity and similar geological setting (Havieron/Telfer style mineralisation) validates the exploration potential of the Red Setter project.
- Greatland Gold (Havieron Project)coreRed Setter is located approximately 60km west of Greatland Gold's Havieron discovery, a world-class Havieron-style gold-copper deposit being developed in joint venture with Newcrest. The geological similarity provides exploration analogues for Red Setter.
Scale indicators16 records
Recent moves6 records
Expansion highlights5 records
Wishbone Gold competitors and assessment
Company assessmentBroad incumbents
- Rio Tinto: Major diversified miner that has partnered with Antipa on Citadel via a US$60m earn-in in the same Paterson Province Wishbone operates in, reflecting major endorsement of the region and a likely acquirer/JV partner for advanced Wishbone assets.
- Newmont Corporation: World's largest gold miner; acquired Newcrest and now operates the Telfer mine just 13km from Wishbone's Red Setter. Represents both the validation anchor for Paterson Province geology and the most likely strategic acquirer profile.
- Capricorn Metals Ltd: ASX-listed gold producer and explorer focused on Western Australia. Comparable geographic focus and Australian gold-junior profile to Wishbone, although at a more advanced production stage.
Emerging players
- Kairos Minerals Ltd: ASX-listed Western Australian gold explorer with Pilbara and adjacent Paterson-range projects. Comparable small-cap Australian gold exploration model at a similar pre-discovery stage to Wishbone.
- Hammer Metals Ltd: ASX-listed gold and copper explorer with Queensland exposure (Mt Isa region). Comparable in scale and stage to Wishbone's Queensland portfolio, including the White Mountain and Wishbone II/IV/VI projects.
Direct peers
- Encounter Resources Ltd: ASX-listed junior exploration company with multiple Paterson Province projects near Red Setter. Comparable pre-discovery stage and exploration philosophy of targeting major-style mineral systems adjacent to existing operations.
- Greatland Gold plc: London AIM-listed gold and copper explorer famous for the Havieron discovery in the Paterson Province. Directly comparable in commodity focus, exploration stage and target customer base (major mining acquirers), although at a much later and more successful stage.
- Antipa Minerals Ltd: ASX-listed Paterson Province gold-copper-silver explorer whose Citadel Project surrounds Wishbone's Anketell tenement. Same geological province, similar pre-resource exploration stage and target metals make it the most direct small-cap peer.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights7 records
Customer concentration
Wishbone Gold social profiles
Digital presenceWishbone Gold financial estimates
Financial estimateRevenue estimate
Valuation estimate
Wishbone Gold leadership team
Management profileNumber of profiles
Profiles5 records
Wishbone Gold subsidiaries and ownership
Company hierarchySubsidiaries2 records
Wishbone Gold funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Wishbone Gold M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Wishbone Gold
What does Wishbone Gold do?
Wishbone Gold Plc is a precious and base metals exploration company focused on discovering and developing gold, silver, copper, lead, and other mineral resources across multiple exploration projects in Australia. The company conducts systematic exploration using airborne magnetic surveys, geophysical modelling, reverse circulation drilling, and diamond drilling to identify and define mineral deposits, with the intent of advancing assets toward development, joint venture, or sale to major mining companies.
Is Wishbone Gold a public or private company?
Wishbone Gold is a public company. It is classified as public and is currently operating.
When was Wishbone Gold founded?
Wishbone Gold was founded in 2012. It employs 11 to 50 people.
Where is Wishbone Gold based?
Wishbone Gold is headquartered in London, United Kingdom, in the Europe region.
How does Wishbone Gold make money?
Three revenue lines are on record. Asset Development and Exit is the primary driver. The others are government Grants and equity Capital Markets.
Who are Wishbone Gold's main competitors?
Broad incumbents on record are Rio Tinto, Newmont Corporation and Capricorn Metals Ltd. Emerging players are Kairos Minerals Ltd and Hammer Metals Ltd. Direct peers are Encounter Resources Ltd, Greatland Gold plc and Antipa Minerals Ltd.
Does Wishbone Gold have an API?
No public API is recorded for Wishbone Gold.
What industry is Wishbone Gold in?
Wishbone Gold's product category is Mineral Exploration Services. Its primary akta.pro industry code is IMAKAEAI, Precious Metals Exploration & Project Development, with a secondary code of IMAKAEAA, Gold Mining. Its NAICS code is 212220 and its SIC code is 1040.