Westgold Resources Sells Lakewood Mill to Streamline Operations

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Westgold Resources Sells Lakewood Mill to Streamline Operations

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.

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