Perth based gold explorer Aragon Resources has recommended its shareholders accept Westgold Resources' $76 million friendly takeover offer, after independent analysis found it fair and reasonable.
Westgold Resources has announced it seeks to snap up the remaining shares it does not already own in Aragon Resources, to create a mid-tier mining house with potential annual gold production of 200,000 ounces.
Westgold Resources has completed a scoping study at its Rover 1 gold tenement in the Northern Territory saying it has yielded strong results with net cash flow estimated to be $118 million.
East Perth-based explorer Westgold Resources says it will press ahead with an exploration program at its Rover project in the Northern Territory, after successfully raising $22 million.
ASX-listed exploration company Westgold Resources has today announced a fully underwritten 1-for-4 pro-rata non-renounceable rights issue, at a price of 18 cents per share, to fund its Rover exploration program in the Northern Territory.
Perth-based Westgold Resources NL will raise up to $4 million through a share purchase plan to raise funds for exploration of the company's Copper-Gold-Iron Oxide Rover project in the Northern Territory.
