Western Gold Resources surges on appointing mining contractor for W.Australia project

SSH

15/01/2025 02:56

** Shares of Western Gold Resources  WGR.AX  rise 47.8% to
A$0.068, their highest level since Jan. 30, 2023
    ** Gold explorer announces that SSH Group  SSH.AX  has been
selected as its preferred mining contractor for its Gold Duke
project in Western Australia
    ** Says appointment will only become binding on execution of
master service agreement; will progress negotiations to reach
agreement on commercial terms
    ** Says SSH Group has proposed a capital facility under a
deferred payment arrangement to support WGR's cash flow as it
begins operations at the project
    ** 1.9 mln shares change hands, 4.6 times the 30-day average
of 408,239
    ** WGR rose as much as 50% earlier in the day, marking its
biggest intraday gain since Sept. 25, 2024

 (Reporting by Manasi Dasa Sundeep in Bengaluru)
 ((Manasi.DasaSundeep@thomsonreuters.com;))