Business
Westgold to Spin-Out Non-Core Assets to Valiant
Westgold Resources Limited (ASX: WGX) (TSX: WGX) (Westgold or the Company), is pleased to confirm that, subject to approval from the Australian Securities...
About this update from Westgold Resources Ltd
[{"type":"text","content":"Ore purchase agreement to provide fast track opportunity to cash flow","length":69,"tagName":"p"},{"type":"text","content":"PERTH, Western Australia, Dec. 15, 2025 /CNW/ - Westgold Resources Limited (ASX: WGX) (TSX: WGX) (Westgold or the Company), is pleased to confirm that, subject to approval from the Australian Securities Exchange (ASX), it is proceeding with the demerger and an initial public offering of its non-core Reedy's and Comet assets (Demerger Assets) in the Murchison region of Western Australia to Valiant Gold Limited (Valiant).","length":427,"tagName":"p"},{"type":"text","content":"Highlights","length":10,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Westgold non-core assets to be spun out via a demerger and concurrent IPO in Q3, FY26 to Valiant Gold Limited (Valiant) - a new standalone ASX-listed gold company.","length":163,"tagName":"p"}]},{"val":[{"type":"text","content":"Valiant to acquire the Reedy and Comet Projects – an exploration and development package including four small historic underground mines with recent production history and a combined Mineral Resources of 15.6 Mt @ 2.4 g/t Au for 1.2 Moz.","length":242,"tagName":"p"}]},{"val":[{"type":"text","content":"Demerger and IPO unlocks value from assets not included in Westgold's 3 year outlook - via a dedicated, well-funded exploration and development team focused on generating early cashflow via an Ore Purchase Agreement to be entered into with Westgold.","length":253,"tagName":"p"}]},{"val":[{"type":"text","content":"Valiant Board and Management team established - Derek La Ferla appointed as Non-Executive Chairman, Brendan Tritton as Managing Director and Anthony Chamberlain as a Non-Executive Director. Westgold's Chief Growth Officer, Simon Rigby, to join the Valiant Board as a Non-Executive Director and as Westgold's nominee.","length":324,"tagName":"p"}]},{"val":[{"type":"text","content":"Valiant to be well funded - as part of the concurrent IPO, Valiant intends to raise $65 -$75 million (before costs), with eligible Westgold shareholders entitled to participate in a $20 million priority offer.","length":214,"tagName":"p"}]},{"val":[{"type":"text","content":"Westgold to retain upside to exploration and production success - through a substantial equity holding in Valiant.","length":114,"tagName":"...