Westgold Resources has completed the divestment of its Reedy and Comet projects to Valiant Gold.
Westgold announced in December 2025 its intention to demerge the Reedy and Comet projects.
The demerger aligns with Westgold’s strategy to concentrate on its primary operations in the Murchison and Southern Goldfields regions.
The Reedy and Comet projects encompass four former underground mines with recent production activities and a cumulative mineral resource totalling 15.6 million tonnes (mt) at a grade of 2.4 grams per tonne (g/t), amounting to 1.2 million ounces (moz) of gold.
Valiant, which is seeking a listing on the Australian Securities Exchange (ASX), has received $75m in applications as part of its initial public offering (IPO).
These applications were filed prior to costs under Valiant’s Prospectus dated 16 February 2026 and a supplementary prospectus lodged on 20 February 2026 with the Australian Securities and Investments Commission.
The IPO was significantly oversubscribed, indicating strong investor interest and belief in Valiant’s potential.
Valiant’s admission to the ASX is contingent upon fulfilling the ASX’s listing and quotation requirements.
Westgold Resources has a portfolio of mines and processing plants.
Prior to this, the company’s Board of Directors approved a final investment decision to expand the Higginsville Processing Hub in Australia’s Southern Goldfields.
This expansion will boost the facility’s annual capacity from 1.6mt to 2.6mt, which is anticipated to enhance gold output and lower operational costs.
The project requires an investment of $145m, which will cover essential engineering tasks, initial works and potential cost increases.
“Westgold divests Reedy, Comet projects to Valiant Gold” was originally created and published by Mining Technology, a GlobalData owned brand.
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