The latest announcement is out from Westgold Resources ( (AU:WGX) ).
Westgold Resources Limited has announced the sale of its non-core Lakewood Milling Operation to Black Cat Syndicate Limited for $85 million. This transaction, which includes $70 million in cash and $15 million in scrip, allows Westgold to consolidate its processing capacity and focus on expanding its Beta Hunt mine and Higginsville mill. The divestment is part of Westgold’s strategy to enhance operational efficiency and lower costs, with the expansion study results expected in March 2025.
More about Westgold Resources
Westgold Resources Limited operates in the mining industry, focusing on gold production. The company is known for its operations in the Southern Goldfields region of Western Australia, emphasizing larger mines and processing plants to achieve higher operational outputs and lower costs.
YTD Price Performance: -14.92%
Average Trading Volume: 82,656
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $1.5B
For a thorough assessment of WGX stock, go to TipRanks’ Stock Analysis page.