Westgold Resources (ASX:WGX) completes $100m placement

Company News

by Lauren Evans

Westgold Resources (ASX:WGX) has completed its $100 million placement to new and existing investors.

Under the placement, 48 million new shares were issued at $2.10 per share. The placement price represents a 13.9 per cent discount to the company's closing price last Wednesday.

Westgold said the funds will be used to accelerate its Murchison and Bryah growth strategy, which focuses on establishing a systematic pathway towards 400,000 plus ounces per annum from FY24.

Shares in Westgold Resources (ASX:WGX) are trading 14.1 per cent lower at $2.10.

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