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Highlights

  • No formal offer made between Westgold Resources and New Murchison Gold, both companies confirm.

  • Speculation follows media reports of takeover discussions in Western Australia’s Murchison gold region.

  • Westgold shares up 1.4% to AU$2.90; New Murchison shares rise over 7% to 1.5 cents in early ASX trading.

  • Companies maintain existing commercial ties, including a strategic alliance and ore purchase agreement.

Westgold Resources (ASX:WGX, TSX:WGX) and New Murchison Gold (ASX:NMG) have both publicly denied reports of a potential takeover deal, stating that no formal offer or material agreement has been made between the parties.

The denials follow recent media speculation suggesting that Westgold was engaged in takeover discussions with two Murchison-based companies, one of which was said to be New Murchison. While Westgold acknowledged discussions of a general commercial nature, it said there was no basis to the speculation and confirmed it remains compliant with ASX continuous disclosure obligations.

New Murchison issued a separate statement clarifying that while it continues to engage with Westgold on commercial matters, including an existing ore purchase agreement and strategic alliance, it has not received any takeover proposal or entered into any binding agreement "at this time."

Despite the denials, investor interest was evident, with Westgold shares climbing 1.4% to AU$2.90, while New Murchison surged more than 7% to 1.5 cents in early trading.