ASX Announcement
24 July 2019
Completion of Sale of Buldania Lithium Royalties
Westgold Resources Limited (ASX:WGX) (Westgold) is pleased to advise that it has signed a formal sale agreement with Liontown Resources Limited (ASX:LTR) (Liontown) by which Liontown will acquire the revenue and production royalties relating to lithium and related minerals over the Buldania Lithium Project in WA (the Buldania Royalties).
The Buldania Royalties were subject to a sale agreement with SilverStream SEZC (SilverStream) (as announced on 9 April 2019). Liontown exercised its pre-emptive right to acquire the royalties.
The Mt Marion Lithium Royalty remains subject to the sale agreement with SilverStream and Westgold and SilverStream continue to advance documentation to the sale.
The Buldania Royalties, a 1.5% gross revenue royalty and a production royalty of A$2 per tonne of ore mined and/or processed from three key tenements (E63/856, P63/1977 and M63/647), are being acquired for total consideration of A$2 million in cash.
The Mt Marion Lithium Royalty sale is for A$13 million in cash.
Enquiries
Peter Cook | Steve Norregaard | Rod Corps |
Managing Director | Operations Director | Manager - Investor Relations |
peter.cook@westgold.com.au | steve.norregaard@westgold.com.au | rod.corps@westgold.com.au |
Westgold Resources Limited
ACN 009 260 306
- +61 8 9462 3400 | e: reception@westgold.com.au | w: www.westgold.com.au PO Box 7068 Cloisters Square WA 6850 | Level 6, 197 St Georges Tce, Perth WA 6000
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Disclaimer
Liontown Resources Limited published this content on 24 July 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 July 2019 23:44:07 UTC