Westgold completes Chalice Project divestment to Corazon Mining
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The news: Westgold Resources has completed the divestment of its Chalice Gold Project to Corazon Mining for an upfront consideration of $12.6 million.
The context: The transaction marks the completion of Westgold’s non-core asset sale program launched in 2025, which has delivered more than $200 million in value to its shareholders.
Under the divestment agreement, Corazon will acquire 100% of Chalice, including the mining licence, existing commercial contracts and technical data.
In addition to the upfront consideration, Westgold will receive a further $11 million in deferred cash payments and hold a 19.9% stake in Corazon Mining.
What they said: “The transaction delivered immediate value to Westgold shareholders via upfront cash and a strategic shareholding in a nimble Western Australian gold explorer,” Westgold CEO Wayne Bramwell said.
“We retain future value upside on resource expansion and look forward to Corazon rapidly advancing the Chalice Gold Project,” he added.
The source: ASX
