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Westgold Resources ( (AU:WGX) ) just unveiled an update.
Westgold Resources Limited has completed the sale of its non-core Lakewood Milling Operation to Black Cat Syndicate Limited for $85 million. This divestment aligns with Westgold’s strategy to focus on larger, lower-cost operations, reducing its cost base and simplifying its Southern Goldfields business. The company retains priority access to process ore at Lakewood for two years, and plans to direct Beta Hunt ore to its Higginsville operation, optimizing processing and lowering costs.
More about Westgold Resources
Westgold Resources Limited is an unhedged gold producer operating six mines and four mills across two of Western Australia’s most abundant goldfields. The company focuses on leveraging its portfolio by concentrating on larger, lower-cost mines and mills to enhance shareholder value.
YTD Price Performance: -0.92%
Average Trading Volume: 103,988
Technical Sentiment Signal: Strong Sell
Current Market Cap: $1.73B
Find detailed analytics on WGX stock on TipRanks’ Stock Analysis page.