NMG says Westgold ore deal takes effect
ASX-listed New Murchison Gold confirmed on Monday that its ore purchase agreement (OPA) with fellow-listed Westgold Resources had come into full effect, with all conditions precedent satisfied or waived.
The agreement, originally announced in December, is between Westgold’s operating subsidiary Big Bell Gold Operations and Zeus Mining, a wholly owned subsidiary of NMG. It covers the purchase of gold ore from the high-grade Crown Prince deposit in Western Australia.
“We are pleased to have completed this milestone and for our OPA with Westgold Resources to have come into effect,” said NMG CEO Alex Passmore.
“We are developing a positive working relationship with the Westgold team. NMG is busily progressing the high-grade Crown Prince openpit gold project towards development.”
With the OPA now active, NMG is advancing regulatory approvals and site readiness. Recent developments include the acquisition of an industrial yard in Meekatharra to serve as an operational base, and the receipt of native vegetation clearing and dewatering bore licences.
The company has completed development of dewatering bores, with pipeline installation to begin shortly. Tenders for key operational contracts — including mining, crushing and dewatering — have been issued, with evaluations under way. Grade control and deep diamond drilling at Crown Prince are also ongoing, alongside management appointments and recruitment for operations.
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