Westgold Resources (ASX:WGX) completed the divestment of its Peak Hill gold project in Western Australia to Great Boulder Resources (ASX:GBR) in a AU$54.4 million cash-and-stock deal, according to a Wednesday filing with the Australian bourse.
The consideration includes a AU$25 million cash payment and a 19.9% stake in Great Boulder valued at AU$29.4 million, per the filing.
Westgold will also receive a 1% net smelter return royalty for all future gold production from Peak Hill, the company said.
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