Aussie gold miners Alicanto, Westgold surge on deal worth up to $43 mln

Sinclair Gold

17/12/2025 02:51

** Shares of Australia's Alicanto Minerals AQI.AX jump as much as 46.2% to A$0.095; their highest level since May, 2022

** Mineral explorer says it will acquire Mt Henry Gold Project from Westgold Resources WGX.AX in a deal worth up to A$64.6 million ($42.79 million)

** Under the deal, WGX to receive A$15 mln in cash, 357.1 mln shares in AQI and a further A$30 mln deferred consideration

** WGX shares up 6.4% to A$6.215, marking biggest intraday gain since late October

** AQI shares mark biggest intraday pct gain in over a year

** AQI says it will also raise A$28 mln at 5.5 Australian cents per share to fund acquisition of project and set up drilling and exploration at site

** AQI last up 38.5%; including session's gains, stock up 143.2% YTD

($1 = 1.5097 Australian dollars)

(Reporting by Aamir Sheik Khalid in Bengaluru)

((Aamir.SheikKhalid@thomsonreuters.com))