West Wits cashes WA gold project, keeps upside play
West Wits Mining has sold its Mt Cecelia gold project in Western Australia to Aventine Resources while retaining a stake in its future success. The deal includes a $2 million equity investment and a one percent net smelter royalty on future production. This strategic move allows West Wits to focus on its South African gold projects without further investment in the Mt Cecelia project.
- ▪West Wits Mining has sold 100 percent of its Mt Cecelia gold project to Aventine Resources.
- ▪The company will receive $2 million in equity and a one percent royalty on future production from the project.
- ▪West Wits is free to focus on its flagship African gold production without additional costs for the Mt Cecelia project.
Opening excerpt (first ~120 words) tap to expand
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Sydney Morning Herald.