FINWIRES · TerminalLIVE
FINWIRES

Westgold Resources to Sell Western Australia Gold Project to Great Boulder Resources for AU$58.3 Million, Net Smelter Royalty

By

-- Westgold Resources (ASX:WGX) executed a binding asset sale agreement and royalty agreement with Great Boulder Resources (ASX: GBR) to divest the Peak Hill gold project in Western Australia for a total consideration of AU$58.3 million plus a 1% net smelter royalty, according to two separate Monday Australian bourse filings.

The total cash consideration is AU$25 million, and 391.7 million fully paid ordinary shares in Great Boulder will be issued to Westgold, translating into a 19.9% stake.

Great Boulder and Westgold entered into an ore purchase agreement to process ore at one or more of Westgold's three mills in the region. They also formed a nonbinding strategic collaboration to evaluate

options to fast-track Great Boulder's Side Well gold project.

Great Boulder is also seeking firm commitments from institutional investors regarding a two-tranche placement to raise AU$40 million via the issue of around 470.6 million new fully paid ordinary shares at AU$0.085 per new share.

Related Articles

Asia

BYD's Sales, Output Decline in April

BYD's (HKG:1211, SHE:002594) sales declined to 321,123 units in April from 380,089 units in the year-ago period, according to a Sunday filing with the Hong Kong bourse.The Chinese automaker's Hong Kong shares gained over 1% in late morning trade Monday.Production slipped to 322,298 units from 385,064 units in the prior year.For the four months ended April 30, sales and output slipped 26% and 29% year over year to 1.02 million vehicles and 1.03 million units, respectively.

$HKG:1211$SHE:002594
Asia

Chery Automobile's April Sales Jump 27%

Chery Automobile (HKG:9973) sold 236,427 vehicle units in April across its five major brands, up 27% from a year prior, a Sunday Hong Kong bourse filing said.The Chinese automaker's Hong Kong shares gained over 2% in morning trade Monday.The firm's Chery brand saw sales rise 46% year over year to 174,414 units, while iCar sales gained 19% to 8,267 units. Jetour sales rose 3% year on year to 45,364 units, figures showed.Exeed and Luxeed sales decreased 46% and 47%, respectively, to 6,036 units and 2,346 units.New energy vehicle sales totaled 90,519 units, while exports reached 172,023 units, figures showed.For the four months ended April 30, total sales increased 4.1% to 802,547 units.

$HKG:9973
Asia

Samsung Heavy Industries Wins FSRU Order from Asian Client

Samsung Heavy Industries (KRX:010140) won an order for a floating storage and regasification unit (FSRU) from an Asia-based client, according to a Monday filing with the Korean Exchange.An FSRU is a vessel that stores liquefied natural gas and converts it back into natural gas before supplying it to shore.The deal is valued at 484.8 billion won. The shipbuilder will deliver the vessels by Feb. 15, 2029.Shares of Samsung Heavy Industries fell more than 1% in recent trade.

$KRX:010140