finance
Westgold Resources Divests Peak Hill Gold Project to Great Boulder for $58.3 Million
Westgold Resources Limited has agreed to sell its Peak Hill Gold Project in Western Australia to Great Boulder Resources Limited for $58.3 million plus a 1.0% royalty on future production. The deal includes cash payments, equity shares, and potential ore processing arrangements. Completion is expected following satisfaction of customary conditions and shareholder approval.
May 4, 12:14 AM·2m read1 source
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Westgold Resources Limited entered into a binding Asset Sale Agreement and Royalty Agreement with Great Boulder Resources Limited on May 4, 2026, to divest the Peak Hill Gold Project located near Fortnum in Western Australia. 0% Net Smelter Return royalty on all future production from Peak Hill.
Under the agreement, Great Boulder will acquire 100% of Peak Hill, including all associated mining tenements, contracts, licences, and technical information.
0 million due at transaction completion. 085 per share. 9% of Great Boulder's issued share capital after completion of the Great Boulder capital raising, the transaction, and any shares issued for fees related to the capital raising or transaction.
9% shareholder in Great Boulder. Westgold will have the right to appoint a nominee to the Great Boulder Board. Additionally, Westgold will receive equity participation rights for future capital raisings by Great Boulder, subject to customary exceptions and compliance with ASX Listing Rules.
Westgold entered into an Ore Purchase Agreement with Great Boulder, allowing ore from Peak Hill to be processed at Westgold's Murchison processing hubs, subject to transaction completion. The companies also signed a non-binding Strategic Collaboration Agreement to evaluate options for fast-tracking Great Boulder's Side Well Gold Project, with potential to process ore through Westgold's hubs.
This collaboration agreement is conditional on completion of the transaction under the Asset Sale Agreement.
