GWR completes sale of Wiluna West Iron Ore Project

GWR Group Limited (ASX: $GWR) has successfully finalized the sale of the Wiluna West Iron Ore Project to Gold Valley West Wiluna Pty Ltd, receiving a substantial $27 million in cash following the completion and settlement of the agreement. In addition to the cash payment, GWR has also acquired a $2 DMT royalty for iron ore produced from the project, which presents the potential for additional revenue over the life of mine operations.

Executive Commentary on Sale Completion and Future Prospects

I would like to thank the GWR team and congratulate Gold Valley on the purchase of the Wiluna West Iron Ore Project. The Company is in a remarkable position of strength with approximately $43 million in cash and cash equivalents representing a strong position to advance exploration activities whilst investigating numerous project generation opportunities. The $2.00 DMT royalty demonstrates the significant potential cashflow to GWR from mining operations at the Wiluna West Iron Ore Project and we will explore the potential to work with royalty stream groups that may generate upfront cash injection to our Company. We look forward to adding further shareholder value with our impressive cash backed and momentum driven balance sheet in 2024.

Summary of GWR's Sale Completion and Future Plans

GWR Group Limited (ASX: $GWR) has successfully completed the sale of the Wiluna West Iron Ore Project to Gold Valley West Wiluna Pty Ltd, receiving a substantial $27 million in cash and acquiring a $2 DMT royalty for iron ore produced from the project. The company intends to explore the potential upfront value of its Iron Ore royalty with Royalty Streaming Funds and is actively assessing new opportunities in the resources sector. Additionally, GWR is considering capital management initiatives such as a capital return to shareholders. With a strong cash position and momentum-driven balance sheet, GWR aims to add further shareholder value in 2024.