Westgold Resources has completed the divestment of the Peak Hill gold project in Western Australia to Great Boulder Resources for a total consideration of $54.4 million. The deal aligns with Westgold’s strategy to simplify its portfolio and deliver value to its shareholders from non-core, non-producing assets.
“The sale to Great Boulder is transformational for them and the upfront cash payment and equity exposure delivers immediate value for Westgold shareholders,” said Westgold Managing Director and CEO Wayne Bramwell.
“Our shareholders also retain exposure to the project’s upside potential through a 1.0% NSR royalty, whilst Great Boulder gains access to a processing solution through Westgold’s Murchison hubs.”
Peak Hill is strategically located in the Northern Murchison Goldfields, approximately 120 km from Meekatharra and within trucking distance of multiple processing facilities, only 100 km from Great Boulder’s Side Well gold project.
Source: Westgold Resources