Westgold Resources divests its Chalice Gold Project to Corazon Mining in a cash and stock deal valued at $25.7M.
Westgold Resources Limited (WGXRF) has agreed to sell its Chalice Gold Project to Corazon Mining Limited for $25.7M. The transaction includes upfront cash, equity, and deferred payments tied to future milestones.
The deal completes Westgold’s portfolio optimization strategy, focusing on streamlining assets. No prior valuation or consensus estimates for the project were disclosed in the agreement.
The transaction structure suggests confidence in the project’s long-term potential, though immediate market reaction details were not provided.