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Westgold Resources Notes RNC Minerals Exercises Option to Purchase HGO

13 May 2019  |  10:00:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: RNC Exercises Option to Purchase HGO

Westgold Resources advised that RNC Minerals (RNC) has exercised the option to purchase the Higginsville Gold Operations (HGO) and that a final sale agreement has been executed by the parties. On closing, RNC will pay the Company A$21m by the issuance of 49.8m shares in RNC and A$25m in cash, for total consideration of A$50m (including the A$4m deposit previously satisfied in RNC shares). The sale of HGO is expected to complete on 10 June 2019.

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