Westgold Resources divests Mt Henry project for $64.6m
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The news: Perth based gold explorer Westgold Resources has entered a sales agreement with mineral exploration company Alicanto Minerals for the divestment of its Mt Henry-Selene gold project (Mt Henry) for $64.6 million.
Shares of Westgold Resources rose 0.86% to $5.89 as of 11:42am AEDT.
The context: Mt Henry is a non-core asset acquired as part of the merger with Karora Resources. Westgold Resources said the transaction aligns with its shareholders' value and does not form part of the company's long-term strategic plans.
Under the agreement, Westgold holds 19.9% of stakes in Alicanto as well as receiving equity participation rights for future capital raising, subject to ASX listing policies.
What they said: "Westgold continues to progress discussions in relation to the potential sale of its Peak Hill and Chalice gold assets following strong inbound interest," Westgold managing director and CEO Wayne Bramwell said.
"The company will continue to inform the market of material developments in accordance with its continuous disclosure obligations."
The source: ASX
