Westgold Resources

Canaccord Genuity funds the exercise of $19.4m worth of options in Westgold Resources (ASX:WGX) and completes block trade of securities

Canaccord Genuity is pleased to announce that it recently funded the exercise of $19.4m in-the-money options in Westgold Resources (“Westgold”) (ASX.WGX) and subsequently completed a block sale of the shares issued as a result of the options exercise. Canaccord Genuity acted as Financial Advisor and Lead Manager on the transaction.

The proceeds from the exercise of the options will be used for additional working capital and to fund Westgold’s near term growth strategy.

Westgold is one of the top ten gold producers in Australia and is focussed on the Murchison Goldfields Region of Western Australia.  In the last three years, Westgold has made $350m of capital investment into its Murchison assets. The Company’s three processing facilities have a combined treatment capacity of ~4.0m tpa.  Westgold (and its management team) have built a reputation for acquiring underperforming assets and successfully investing in growth.

The Canaccord Genuity corporate finance deal team was led by Jeremy Dunlop, Carl Henschke, Christian Calabrese and Stefan Collins. Significant support was provided by Canaccord Genuity Australia’s domestic sales team led by William Morley.