Westgold Resources Limited (ASX:WGX) agreed to acquire Musgrave Minerals Limited (ASX:MGV) for approximately AUD 180 million on June 1, 2023. As per the transaction, Westgold Resources Limited will acquire all the shares of Musgrave Minerals Limited. Musgrave shareholders to receive 1 new fully paid Westgold ordinary share for every 5.37 Musgrave shares held.

Musgrave board has advised the shareholders not to take any action at the moment. Argonaut PCF Limited acted as financial advisor and Courtney McVeigh, James Nicholls, Matthew Watkins, Haydn Sharp, Emily Donley, Luke Kavenagh and Eddie Ahn of DLA Piper Australia Pty Ltd acted as legal advisor to Westgold Resources Limited. Longreach Capital Pty.

Ltd. acted as financial advisor and Thomson Geer acted as legal advisor to Musgrave Minerals Limited. As of June 25, 2023. board of Musgrave recommends shareholders to take no action.