Widgie Nickel (ASX:WIN) completed the acquisition of the Radio gold mine in Western Australia from Top Global Mining for an upfront cash consideration of AU$500,000 and a share payment of AU$400,000, with 20 million shares issued, according to a Wednesday filing with the Australian bourse.

The transaction includes deferred consideration of a stepped royalty, representing 5% of net smelter returns up to 18,000 ounces of gold sales, with a 1.5% royalty in perpetuity, the filing said.

The acquisition comprises a range of tenements, mining and processing infrastructure, accommodation facilities, vehicles, and other related equipment, per the filing.

Shares rose nearly 23% in midday trade.