The agreement comes after the company's sale agreement with Cobalt 27 expired without being completed.
Westgold will dispose of both its Mt Marion and Buldania lithium production royalties in a binding sale to Silverstream SEZC for $13 million and $2 million respectively.
The Buldania agreement is subject to pre-emptive rights with Liontown Resources.
Shares in Westgold (ASX:WGX) are trading 3.13 per cent lower at $1.24