New Murchison Gold (ASX:NMG) confirmed that it had not received any takeover offer from Westgold Resources (ASX:WGX) and that it had not reached any other material agreement at the time after media speculation that Westgold made two separate takeover approaches to entities in Western Australia, according to a Monday Australian bourse filing.
The firm said that there have been talks with Westgold on various commercial and broader business transactions from time to time over the past few years.
In 2024, New Murchison Gold executed a strategic alliance and an ore purchase arrangement with Westgold regarding its Crown Prince gold project. It said it "meets frequently" with Westgold concerning operational matters in line with its existing agreement.
New Murchison Gold's shares rose past 7% in recent trading on Monday, while Westgold Resources' shares jumped almost 4%.
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