Westgold completes Mt Henry sale to Alicanto Minerals

Core Viewpoint - Westgold Resources has successfully sold its Mt Henry Gold Project to Alicanto Minerals, with the total consideration increasing from A$64.6 million to A$110 million due to the appreciation of Westgold's stake in Alicanto since the initial announcement in December 2025 [1]. Group 1: Transaction Details - The sale of the Mt Henry Gold Project was completed after fulfilling all necessary conditions, including ministerial consent and approvals from shareholders and the Ngadju Native Title Aboriginal Corporation [2]. - The increase in the sale value reflects the appreciation of Westgold's 19.9% stake in Alicanto, highlighting the positive market response since the initial announcement [1]. Group 2: Future Plans and Exploration - Alicanto Minerals is set to initiate a 50,000-meter drilling program aimed at expanding the existing resource of 915,000 ounces along a 16 km corridor [2]. - The Mt Henry site is described as a large, under-explored gold system with significant potential for further value extraction through the planned drilling program [4]. Group 3: Strategic Implications for Westgold - The divestment of the Mt Henry project is part of Westgold's strategy to streamline its portfolio by selling non-core assets, which is expected to enhance shareholder value [4]. - Westgold's ongoing portfolio simplification includes advancing the divestment of its Peak Hill and Chalice gold assets and planning an IPO for Valiant Gold, targeting a listing in late March 2026 [6]. - Westgold remains a significant shareholder in Alicanto and will benefit from any exploration success resulting from the drilling program [5].