https://www.engineeringnews.co.za

Westgold negates on SilverStream deal

2nd January 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – ASX-listed Westgold Resources has struck a new sales agreement for its Mt Marion lithium royalties.

The company in December last year entered into a conditional agreement with SilverStream to divest of its non-core lithium royalties in the Mt Marion and Buldania lithium projects for A$15-million in cash.

However, Cobalt 27 Capital has now offered to acquire the Mt Marion lithium royalty for A$250 000 and 200 t of physical cobalt metal, in a warranted LME warehouse.


Westgold on Wednesday told shareholders that the Cobalt 27 offer was deemed superior, considering the current cobalt prices of $54 000/t.

Westgold has agreed to accept the Cobalt 27 offer and will pay the minor termination costs associates with the SilverStream transaction.

The Cobalt 27 transaction was subject to the completion of a due diligence, and final approval of the Cobalt 27 board.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sweet-Orr
Sweet-Orr

Sweet-Orr, established in 1871, is a global leader in superior protective workwear, known for quality, innovation, and performance.

VISIT SHOWROOM 
ATI Systems
ATI Systems

ATI systems comprises five divisions: electrical assemblies, drives and controls, feedback sensors, enclosures, and strip guiding.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.085 1.174s - 140pq - 2rq
Subscribe Now