Doray Minerals (ASX: DRM) has delivered shareholders an early Christmas present with the signing of a binding term sheet to divest the non-core Andy Well and Gnaweeda gold projects to Westgold Resources (ASX: WGX) for $15 million in cash and shares. The deal replaces an earlier announcement arrangement with Canadian group Galane, which has been terminated. Doray expects completion of the deal with Westgold to be completed in February. The proposed deal has no impact on Doray’s agreed merger with Silver Lake Resources (ASX: SLR).
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