Alicanto Tightens Mt Henry Disclosure as It Seals Transformational WA Gold Acquisition

Alicanto Minerals ( (AU:AQI) ) just unveiled an announcement.

Alicanto Minerals has clarified amendments to its earlier announcement regarding the acquisition of the Mt Henry Gold Project and associated capital raising, updating technical disclosures and drilling information in line with ASX requirements. The company has entered a binding agreement with Westgold Resources to acquire 100% of the Mt Henry Gold Project in Western Australia, which hosts a 0.9Moz gold resource within a 16km mineralised corridor that remains open along strike and at depth, and plans an immediate 50,000m multi-rig drilling campaign to grow resources and test new targets. With gold prices significantly higher than assumed in earlier pit shell models, recent high-grade drill intercepts in unmined areas, and Westgold set to become a 19.9% shareholder as part of a transaction involving upfront cash, shares and deferred performance-based consideration, the deal is positioned as transformational for Alicanto, bolstering its balance sheet to a pro forma $17.3m in cash and potentially reshaping its growth profile in the Kalgoorlie gold district.

The most recent analyst rating on (AU:AQI) stock is a Hold with a A$0.05 price target. To see the full list of analyst forecasts on Alicanto Minerals stock, see the AU:AQI Stock Forecast page.

More about Alicanto Minerals

Alicanto Minerals Ltd is an emerging gold company listed on the ASX that is focused on advancing the Mt Henry Gold Project in Western Australia. The company also owns the Sala silver-zinc-lead project and the Falun project, within a substantial 254km² landholding in Sweden, giving it exposure to both precious and base metals across Australia and Europe.

Average Trading Volume: 1,956,462

Technical Sentiment Signal: Buy

Current Market Cap: A$60.34M

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