Alicanto shareholders approve Mt Henry gold acquisition
ASX-listed Alicanto Minerals has secured shareholder approval for its acquisition of the 915 000 oz Mt Henry gold project in Western Australia, paving the way for transaction completion in mid-February.
The approval follows a general meeting held on Friday and will see Westgold Resources emerge as a 19.9% shareholder in Alicanto once the deal is finalised. The company said remaining conditions precedent are progressing well.
Alicanto has also appointed Jeff Sansom as CEO, effective immediately, as part of a broader leadership restructuring linked to the acquisition.
Under the revised structure, Ray Shorrocks has transitioned from interim executive chairperson to non-executive chairperson, Ben Palich has been appointed executive GM for growth and development, and Tim Sloan has joined as geology manager.
Non-executive chairperson Raymond Shorrocks said the acquisition provided a strong platform for value creation through brownfields exploration.
“As well as already having a 915 000 oz resource, we know the project has substantial low hanging fruit with mineralisation outlined over a 16 km corridor, much of which sits outside the resource.”
Sansom said the company had begun preparatory work ahead of an extensive drilling programme focused on resource growth.
“With the Mt Henry acquisition approved by shareholders, there is a significant amount of work already under way, and the team is focused on driving value in a timely fashion.”
The Mt Henry project is located in the Norseman–Wiluna greenstone belt and hosts a Joint Ore Reserve Committee-compliant mineral resource of about 915 000 oz of gold.
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