Alicanto Minerals (ASX:AQI) has obtained shareholder approval to acquire the Mt Henry Gold Project in Western Australia from Westgold Resources (ASX:WGX) following a general meeting last week (30 January).
The acquisition will result in Westgold becoming a shareholder in Alicanto, holding a 19.9% stake in the company. The acquisition is expected to be completed in mid-February 2026.
Non-executive director Raymond Shorrocks says the acquisition offers the company an “exceptional opportunity to create value through brownfields gold exploration in Western Australia”.
“As well as already having a 915,000 ounce resource, we know the project has substantial low hanging fruit with mineralisation outlined over a 16km corridor, much of which sits outside the resource,” Shorrocks says.
Alicanto has appointed Jeff Sansom as CEO for the company as of today (2 February), along with Ben Palich moving to Executive General Manager of Growth and Development and Tim Sloan appointed as Geology Manager.
Shorrocks has also transitioned from Executive Chairman to non-executive Chairman.
Steve Parsons and Mike Naylor will also continue to provide Alicanto with support as strategic consultants.
“With Jeff now in the role of Chief Executive Officer, a strengthened executive and leadership team in place, and the ongoing support of Steve and Mike, the board is confident the company is well positioned to systematically advance Mt Henry and unlock long-term shareholder value,” Shorrocks adds.
CEO Jeff Sansom says he is joining Alicanto at “such an important time for the company”.
“With the Mt Henry acquisition approved by shareholders, there is a significant amount of work already underway, and the team is focused on driving value in a timely fashion,” Sansom says.
“We look forward to engaging with the Ngadju and other stakeholders and fostering a respectful, long-term relationship as the project advances.”
Alicanto Minerals is an emerging gold company focused on advancing the Mt Henry Gold Project in Western Australia.
Write to Maddison Elliott at Mining.com.au
Images: Alicanto Minerals
