USD $4,127.96
Goldman Advanced gold asset with 0.5Moz resource up for acquisition
Westgold Resources Limited (ASX:WGX) has launched a formal sale process for its Peak Hill Gold Project, located in the Murchison goldfields of Western Australia. The company has appointed Argonaut Corporate Finance as its exclusive adviser to manage the process .
The Peak Hill project is considered an advanced exploration asset with a current JORC (2012) Mineral Resource of 9.4Mt @ 1.6g/t Au for 481koz, spread across five key deposits: Five Ways, Durack, Harmony, Enigma and Jubilee .
The project also boasts a history of significant past production, including 649koz @ 3.1g/t Au from the Five Ways open-pit. In total, historic production across the district is reported at approximately 901koz .
Westgold highlighted several growth avenues at Peak Hill, including:
- Depth extensions beneath historic pits (Five Ways, Harmony, Jubilee).
- Strike extensions along mineralised trends with limited deep drilling.
- Near-mine targets at Durack and Enigma with multiple untested geophysical anomalies.
- Regional exploration potential across a 108km² tenement package with granted mining leases.
The project is also strategically positioned near existing processing plants — including Fortnum, Plutonic and Andy Well mills — giving an acquirer flexibility to generate cashflow sooner through ore purchase agreements with Westgold .
Comparable gold asset transactions on the ASX in 2024–2025 have ranged from $21/oz to $237/oz, with an average of $69/oz (as shown in the precedent transactions chart on page 4 of the teaser) .
