Western Gold Resources Limited (ASX:WGR) entered into a conditional agreement to acquire the Holmtjarn REE, Loberget Graphite and Rullbo Graphite Projects in Sweden for AUD 1.4 million on August 21, 2023. As part of the agreement, WGR will pay a cash payment of AUD 75,000; the issue of 17,250,000 shares; the issue of 8,500,000 performance rights each convertible into 1 share on the achievement, within 2 years of grant, of an exploration target of, or greater than 30-60Mt at 0.8-1.2% total rare earths oxides in relation to the area the subject of the permits; or 30-60Mt at 5-10% total graphite content in relation to the area the subject of the permits; and the issue of 8,500,000 performance rights each convertible into 1 share on the achievement, within 2 years of grant, of a drill intersection on one of the permits of at least 15 meters @ 10% total graphite content or 15 meters @ 0.5% total rare earth oxides. The transaction is conditional upon legal, financial and technical due diligence by WGR on EFM and the Projects; WGR obtaining all requisite shareholder and regulatory approvals for the acquisition; grant of the three permit applications and completion of the capital raising.

Western Gold Resources Limited (ASX:WGR) completed the acquisition of Holmtjarn REE, Loberget Graphite and Rullbo Graphite Projects in Sweden on November 22, 2023. The transaction got the approval from shareholder and regulatory approvals for the
acquisition and all conditions precedent including legal, financial, and technical due diligence has completed.