The acquisition of land will enable the extraction of a valuable raw material

The company has signed a binding agreement to acquire ownership of approximately 860 hectares of land crucial for the development of the project .

The acquisition ends legal disputes that have been ongoing since August 2023, enabling Ausgold to continue exploration and project optimization.

“Securing this area is a key factor in reducing the risk to the development of the Katanning Gold Project,” said John Dorward, CEO of Ausgold.

Ausgold will pay $35 million for the land in two stages : $15 million by August 26, followed by $20 million upon a final investment decision or by August 2026.

Ausgold Limited is a Perth-based gold exploration and development company with a portfolio of projects located across regional Western Australia.

Ausgold's primary business is its wholly-owned Katanning Gold Project, located 275 km southeast of Perth and 40 km northeast of Katanning.