Westgold Resources (ASX:WGX) completes Castile demerger

Company News

by Rachael Jones

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Last Updated: 29/01/2020 3:59 PM

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.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.