Metals X, Westgold in $330m merger
By Gillian Tan
METALS X and Westgold Resources are joining forces to create a junior miner with a market value of more than $330 million.
Westgold shareholders will receive 11 Metals X shares for every 10 Westgold shares held, representing 22c a share, a premium of 33.3 per cent to Westgold’s last traded price on May 9. Westgold jumped 16.7 per cent to 17.5c a share in early trade but Metals X fell 10.8 per cent to 16.5c a share.