07:15 AM EDT, 10/28/2024 (MT Newswires) -- Westgold Resources ( WGXRF ) , shy of 52 week highs, overnight Sunday executed a commitment letter with ING Bank (Australia) Limited and Societe Generale to increase its existing $100 million Syndicated Facility Agreement (SFA) to $300 million.

In a statement it said the move provides it with access to $300 million of undrawn facilities (including the undrawn $100 million Revolving Corporate Facility) that may be utilised for general corporate purposes.

It noted Facility B is available until June 30, 2025, and will have a quarterly amortisation schedule with first repayment commencing September 2025 (if drawn).

Importantly, the statement added, Westgold was not required to enter into mandatory gold hedging as part of the new Facility.