Westgold Completes Mt Henry-Selene Gold Project Divestment, Total Consideration Increases to $110M
PERTH, Western Australia — February 16, 2026 — Leads & Copy — Westgold Resources Limited (ASX: WGX) (TSX: WGX) has completed the divestment of the Mt Henry-Selene Gold Project (Mt. Henry) to Alicanto Minerals Limited (ASX: AQI). The total consideration for the deal increases to $110 million through a strategic shareholding in Alicanto.
The total value of the consideration for Mt Henry has increased from the previously announced $64.6 million to $110 million. This reflects the increase in the value of Westgold’s 19.9% shareholding in Alicanto since the transaction was announced on December 17, 2025.
Westgold’s Managing Director and CEO Wayne Bramwell stated that the transaction with Alicanto unlocks value for Westgold shareholders from assets not within their three-year outlook. Alicanto plans to commence a 50,000m multi-rig drilling program at Mt Henry, and Westgold will participate in any resulting exploration success as a significant shareholder in Alicanto.
According to Westgold, the transaction supports its strategy to simplify its extensive portfolio and realize value for its shareholders from non-core and non-operational assets.
Westgold’s portfolio of mineral assets remains large. The divestment of Peak Hill and Chalice gold assets is advancing, and the IPO of Valiant Gold (proposed ASX code: VAL) is targeting listing in late March 2026.
Argonaut acted as financial advisor and Thomson Geer as legal advisor to Westgold in relation to the transaction.
Upon completion, these transactions will finalize the rationalization of their portfolio.
Based on Alicanto’s share price of $2.02 as at close February 13, 2026.
See AQI ASX announcement dated December 17, 2025 – Acquisition of Mt Henry Gold Project and Capital Raising.
See WGX ASX announcement dated December 17, 2025 – Mt Henry-Selene Gold Project Divested for $64.6m.
Source: Westgold Resources Limited
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