Westgold, New Murchison brush off deal speculation
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The news: Westgold Resources and New Murchison Gold have brushed off speculation about a potential deal saying no takeover offer has been made.
The numbers: The response comes after media reports that the ASX and TSX-listed Westgold was reportedly in takeover discussions with two companies in the Murchison region, including New Murchison Gold.
Westgold shares are up 1.4% to $2.90 in early trading on the ASX. New Murchison shares are up over 7% to 1.5 cents.
The context: Westgold said in a statement that there is no basis to the speculation and it is in compliance with ASX rules on continuous disclosure.
In a separate statement, New Murchison said it continues to hold discussions with the company on commercial matters, but specified it had not received any takeover offer from Westgold or reached any material agreement “at this time”.
New Murchison holds a strategic alliance and an ore purchase agreement with Westgold
The speculation comes after Westgold’s August 2024 takeover of Canada’s Karora Resources.
