GWR Group (ASX:GWR) to divest Wiluna West Iron Ore Project in $30M deal

Business News

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GWR Group agreed to sell the Wiluna West Iron Ore Project to Gold Valley West Wiluna.

The agreement includes a sale price of $30 million and a $2 data mining technique royalty.

The company will use the sale proceeds to develop its existing projects and working capital. The transaction is subject to conditions including shareholder approval and various legal consents.

GWR will retain interest in the Prospect Ridge and Hatches Creek projects post-transaction.