Business
Westgold Divests Mt Henry-Selene Gold Project for $64.6M
Westgold Resources Limited (ASX: WGX) (TSX: WGX) (Westgold or the Company) is pleased to announce it has entered into a binding Asset Sale Agreement (ASA...
About this update from Westgold Resources Ltd
[{"type":"text","content":"Non-Core Asset Divestment Aligns with Westgold's Strategy to Focus on Larger, Core Operating Assets ","length":103,"tagName":"p","attribs":{}},{"type":"text","content":"Highlights","length":10,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Westgold has executed a binding Asset Sale Agreement with Alicanto Minerals Limited (ASX: AQI) to divest the Mt Henry-Selene Gold Project near Norseman - for total consideration of $64.6M.","length":188,"tagName":"p"}]},{"val":[{"type":"text","content":"Westgold will receive $15M cash and ~357.1M Alicanto shares ($19.6M) post Transaction close, with $30M of deferred consideration - payable in cash or shares upon satisfaction of agreed performance hurdles (to be issued as performance rights).","length":242,"tagName":"p"}]},{"val":[{"type":"text","content":"Divestment aligns with Westgold's corporate strategy - of optimising the portfolio and focusing on advancing its larger, core operating mines and processing hubs.","length":166,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":596,"olType":false},{"type":"text","content":"PERTH, Western Australia, Dec. 17, 2025 /CNW/ - Westgold Resources Limited (ASX: WGX) (TSX: WGX) (Westgold or the Company) is pleased to announce it has entered into a binding Asset Sale Agreement (ASA) with Alicanto Minerals Limited (ASX: AQI) (Alicanto) for the divestment of the Mt Henry-Selene Gold Project (Mt Henry), near Norseman in Western Australia for total consideration of $64.6M (the Transaction).","length":415,"tagName":"p"},{"type":"text","content":"This Transaction realises value for Westgold's shareholders from an asset that is prospective but does not form part of the Company's long-term strategic plans. ","length":168,"tagName":"p","attribs":{}},{"type":"text","content":"The Transaction is aligned with Westgold's strategy of focusing on its larger, core operating assets. Mt Henry is a non-core asset acquired as part of the merger with Karora Resources Inc, one of a number within Westgold's 3,200km2 tenement holding.","length":257,"tagName":"p","attribs":{}},{"type":"text","content":"Westgold Managing Director and CEO Wayne Bramwell commented:","length":60,"tagName":"p","attribs":{}},{"type":"text","content":""The divestment of Mt Henry to Alicanto follows the recently announced spin-out o...