The latest update is out from Westgold Resources ( (AU:WGX) ).
Black Cat Syndicate Limited has entered into a binding agreement to acquire the Lakewood processing facility from Westgold Resources Limited for $85 million. This acquisition will enable Black Cat to increase its gold production capacity by 50% and accelerate its production plans by approximately 15 months, leveraging the high gold price environment. The facility’s proximity to Kalgoorlie provides access to an experienced workforce and local suppliers, reducing risks associated with new construction. The acquisition also opens opportunities for processing third-party ore and consolidating stranded assets, enhancing Black Cat’s position as a significant gold producer in Western Australia.
More about Westgold Resources
Black Cat Syndicate Limited is a company operating in the gold mining industry, focusing on the production and processing of gold. The company is engaged in the exploration and development of gold resources, with a market focus on accelerating gold production and expanding its operational capacity.
YTD Price Performance: -14.92%
Average Trading Volume: 82,656
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $1.5B
Learn more about WGX stock on TipRanks’ Stock Analysis page.