Western Gold through its wholly owned subsidiary Wiluna West Gold owns the Wiluna West Gold Project. Subject to the approval of its shareholders and the ASX granting approval for Western Gold to be admitted the Official List of ASX, GWR will distribute all the shares currently on issue in Western Gold on a pro rata basis to eligible GWR shareholders.
The Wiluna West Gold Project is an advanced exploration project with a combined JORC-2012 Mineral Resource of 4,570,000 tonnes at 2.0 g/t Au for 293,000 oz Au (comprised of a Measured Resource of 30,000 tonnes at 3.0 g/t Au for 3,000 oz Au, an Indicated Resource of 490,000 tonnes at 2.3 g/t Au for 36,000 oz Au and an Inferred Resource of 4,050,000 tonnes at 2.0 g/t for 254,000 oz Au), across a number of deposits. These gold deposits are located on granted mining leases and subject to a Native Title Agreement.
Western Gold’s strategic objective from completing its IPO and listing on ASX is to develop the Wiluna West Gold Project, an advanced exploration project with potential to move to gold production. The funds raised under the IPO will principally be used to increase Mineral Resources and also confidence in the current Mineral Resource estimate and bring the Wiluna West Gold Project towards production.
It is anticipated that WGR will list on the ASX during July 2021.