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Great Boulder Resources Ltd ( (AU:GBR) ) has provided an update.
Westgold Resources has agreed to sell its non-core Peak Hill Gold Project near Fortnum in Western Australia to Great Boulder Resources for total consideration of $58.3 million, paid as $25 million in cash and $33.3 million in Great Boulder shares, along with a 1.0% net smelter return royalty on all future Peak Hill production. The deal also gives Westgold a 19.9% equity interest in Great Boulder, includes an ore purchase agreement that may see Peak Hill ore treated at Westgold’s Murchison processing hubs, and is aligned with Westgold’s wider portfolio optimisation program, which has unlocked $208 million in upfront value this financial year and reinforces its focus on scaling core mines while maintaining exposure to growth through royalties and strategic collaborations.
Westgold and Great Boulder have entered a non-binding strategic collaboration to assess options to fast-track Great Boulder’s nearby Side Well Gold Project, potentially increasing regional synergies around Westgold’s infrastructure. By offloading Peak Hill, which is not in its five-year plan, Westgold reduces capital demands on non-core assets yet preserves upside through the royalty and equity exposure, while Great Boulder consolidates its Murchison footprint and gains a pathway to processing capacity, a dynamic that could reshape project development timelines and value for shareholders of both companies.
More about Great Boulder Resources Ltd
Westgold Resources is an Australian gold producer focused on operating and optimising a portfolio of mines and processing hubs in Western Australia’s Murchison region. The company has been pursuing a strategy of divesting non-core assets to concentrate capital and management attention on its larger, core operations while retaining upside through royalties and equity stakes.
Average Trading Volume: 5,587,453
Technical Sentiment Signal: Hold
Current Market Cap: A$96.73M
See more insights into GBR stock on TipRanks’ Stock Analysis page.