07:08 AM EDT, 05/26/2025 (MT Newswires) -- Westgold Resources ( WGXRF ) on Monday said there is "no basis" to the recent media speculation suggesting the company made two separate takeover approaches to entities in the Murchison region.

This comments come after New Murchison Gold said it has not received a takeover offer from Westgold and has not reached any other material agreement. Murchison added that it meets frequently with Westgold in relation to operational matters in line with its existing ore purchase agreement and pre-development activities for the Crown Prince gold project.

Shares of Westgold closed up 2.4% to $2.55 on Friday on the Toronto Stock Exchange.