Westgold Resources (ASX:WGX) has completed its demerger of Castile Resources.
At Westgold’s AGM at the end of November, shareholders overwhelmingly approved the demerger of Castile with 99.9 per cent in favour.
The distribution of Castile shares to Westgold shareholders on a one for four basis was completed today.
Every shareholder of Castile has the right to an additional Castile share for each share it was allotted in the demerger at a price of $0.20 per share.
Castile Resources held polymetallic assets in the Northern Territory, including the Iron-Oxide-Copper-Gold Rover 1 discovery.
Shares in Westgold Resources (ASX:WGX) closed -1.25 per cent lower at $1.97 yesterday.