Westgold Resources (ASX:WGX) has completed the divestment of its Mt Henry-Selene Gold Project to Alicanto Minerals (ASX:AQI), with the total consideration rising to $110 million.
The consideration value has increased from the previously announced $64.6 million in December 2025, driven by an appreciation in Westgold’s 19.9% strategic shareholding in Alicanto.
The transaction aligns with Westgold’s strategy to streamline its portfolio and extract value from non-core assets not within its three-year outlook.
CEO Wayne Bramwell says the transaction with Alicanto unlocks value for Westgold shareholders from assets not within its three-year outlook.
“Alicanto plans to commence a substantial 50,000m multi-rig drilling program at Mt Henry and Westgold, as a significant shareholder in Alicanto will participate in any resulting exploration success,” Bramwell says.
The company continues its portfolio simplification, with divestments of the Peak Hill and Chalice gold assets progressing alongside plans to list Valiant Gold – under the proposed ticker ASX:VAL – in late March 2026.
Argonaut acted as financial adviser while Thomson Geer provided legal counsel to Westgold for the transaction.
The consideration value is based on Alicanto’s share price of $2.02 as at market close on 13 February 2026.
This content was created with AI assistance and human editing.
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Images: Westgold Resources
