06:57 AM EDT, 05/04/2026 (MT Newswires) -- Westgold Resources ( WGXRF ) has agreed to divest the Peak Hill gold project in Western Australia to Great Boulder Resources, the company said Monday.

The total consideration payable or deliverable under the asset and sale agreement is A$58.3 million plus a 1.0% net smelter return royalty over future production from Peak Hill.

The consideration comprises $25 million in cash, $33.3 million in GBR scrip representing 19.9% interest post-completion, and a 1.0% NSR royalty.

At deal completion, Westgold will emerge as a 19.9% shareholder in Great Boulder with the right to appoint a nominee to Great Boulder's board.

Westgold has entered into an ore purchase agreement with Great Boulder, under which ore from Peak Hill may be processed at Westgold's Murchison processing hubs. The OPA is subject to completion of the divestment transaction.

Westgold and Great Boulder have also entered into a non-binding strategic collaboration agreement to evaluate options that could fast track Great Boulder's Side Well Gold Project.

The transaction is a continuation of Westgold's portfolio optimization strategy, which has unlocked shareholder value totaling $208 million, with further upside potential via $30 million in deferred consideration.