Westgold sells Mt Henry-Selene gold project, BlackRock adjusts holdings

Westgold Resources Limited is divesting its Mt Henry-Selene Gold Project to Alicanto Minerals Limited for A$64.6m. The consideration includes A$15m cash, ~357.1m Alicanto shares (valued at A$19.6m), and A$30m in deferred consideration tied to performance hurdles. This divestment aligns with Westgold's strategy to optimize its portfolio and focus on larger, core operating mines and processing hubs. The transaction is set to complete in early February 2026.

Following the acquisition, Westgold will become a 19.9% shareholder in Alicanto, with the right to appoint a nominee to Alicanto’s Board. Concurrently, BlackRock Group, a substantial shareholder in Westgold, has ceased to be a substantial holder in Westgold Resources Limited as of December 16, 2025. BlackRock’s previous holdings were 5.00% of voting power, equating to 47,267,554 ordinary shares.

The Mt Henry Gold Project, located in Western Australia, hosts a Mineral Resource of 24.5Mt at 1.2g/t Au for 915,000oz and an Ore Reserve of 11.7Mt at 1.3g/t Au for 478,300oz as of June 30, 2025. Alicanto plans to leverage the project's near-surface gold system and 16km mineralised corridor for rapid resource growth.