New Murchison Gold Limited Denies Westgold Takeover Speculation, Reinforces Strategic Alliances and Gold Project Advancements

Monday, May 26, 2025
at
10:03 am
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New Murchison Gold Limited refutes takeover rumors amid media speculation. The company confirms ongoing discussions and collaborations with Westgold Resources Limited on its Crown Prince gold project, but no takeover offers or new material agreements have been made.

New Murchison Gold Limited has addressed recent media speculation regarding takeover approaches in Western Australia’s Murchison region. The company clarified that while it has engaged in periodic discussions with Westgold Resources Limited over the past few years, including a 2024 Strategic Alliance and Ore Purchase Arrangement surrounding its Crown Prince gold project, no takeover offer or new material agreement has been made. Company representatives confirmed that interactions with Westgold remain focused on operational matters related to their pre-development activities under the existing agreement. The company, which has a market capitalization of approximately $138 million, currently has 9,851 million shares on issue and a share price of $0.014. New Murchison Gold Limited is continuing its exploration and development efforts at the Garden Gully Gold Project, a 677 square kilometer tenure that encapsulates a significant section of the Abbotts Greenstone Belt. The project, featuring multiple gold deposits with the most advanced being the Crown Prince Deposit on a granted mining lease, underscores the company’s commitment to exploration in this prolific goldfield. Bullish sentiment is buoyed by the company’s established operational ties with Westgold, its focused development on the Garden Gully Gold Project, and its structured communication with the market addressing any takeover rumors transparently. Conversely, bearish concerns may stem from the low share price and the absence of any immediate new agreements or significant corporate actions beyond ongoing operational collaborations, leaving some investors cautious about near-term catalysts.

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