Advising Great Boulder on the Peak Hill Acquisition and Strategic Partnership with Westgold

Mining + Heritage Legal (M+HL) is pleased to have advised Great Boulder Resources Limited (ASX: GBR) on its acquisition of the Peak Hill Gold Project from Westgold Resources Limited (ASX/TSX: WGX), together with the related due diligence, Ore Purchase Agreement, Strategic Collaboration arrangements and related agreements.

Announced on 4 May 2026, the transaction represents a transformational step for Great Boulder and positions the company as an emerging gold producer in Western Australia’s Murchison region.

Under the transaction, Great Boulder will acquire the Peak Hill Gold Project for consideration comprising cash, Great Boulder shares and a 1% NSR royalty interest. Westgold will emerge as a strategic 19.9% shareholder in Great Boulder, and the parties have entered into a broader strategic collaboration focused on advancing regional development opportunities.

The acquisition significantly expands Great Boulder’s resource base, adding the Peak Hill Gold Project’s 481,000oz Mineral Resource to Great Boulder’s existing 1.02Moz Side Well Gold Project.

Importantly, the transaction also establishes a clear pathway toward capital-light production through a binding Ore Purchase Agreement with Westgold. The agreement contemplates ore processing through Westgold’s established Murchison processing infrastructure, including the Bluebird, Fortnum and Tuckabianna mills.

In parallel, Great Boulder completed a strongly supported $40 million institutional placement to fund the acquisition, exploration activities and pre-production work programs across both Peak Hill and Side Well.

M+HL advised Great Boulder on a range of transaction, mining, regulatory and commercial matters associated with the acquisition and related agreements. The transaction involved a number of interconnected arrangements, including the asset acquisition, royalty structure, ore purchase arrangements, strategic collaboration framework and capital raising support documentation.

The transaction highlights continued activity and consolidation within the Western Australian gold sector, particularly in the Murchison region, where existing infrastructure and strategic processing arrangements are increasingly driving development pathways for emerging producers.

M+HL congratulates Andrew Paterson and the Great Boulder team on the successful execution of this landmark transaction and looks forward to seeing the continued advancement of both the Peak Hill and Side Well projects.

We also acknowledge the broader advisory team involved in the transaction, including Salient Corporate as financial adviser, Argonaut Securities, Bell Potter Securities, Canaccord Genuity, Blackwall Legal and other advisers who contributed to the successful outcome.

To know more about the deal and acquisition, listen to this LEVRD episode with Andrew Paterson on YouTube.

Did you know?

M+HL not only advises on mining transactions, including negotiating and executing acquisitions, but also advises on native Title and heritage engagement.

Contact the team at Mining + Heritage Legal to discuss your next steps,