CGN Resources Secures District-Scale Landholding in Leonora Gold Province

The latest update is out from Kin Mining NL ( (AU:PTN) ).

CGN Resources has struck a binding agreement to acquire the Desdemona Project from Patronus Resources, adding 142km² of mining, exploration and prospecting licences that adjoin its existing Leonora Gold Project in Western Australia. The all-equity up-front consideration plus milestone-based cash payments preserves CGN’s balance sheet while bringing Patronus in as a substantial, technically aligned shareholder. The deal expands CGN’s consolidated footprint to 386km² in the prolific Leonora gold belt, placing it among the district’s dominant landholders alongside Genesis Minerals and Vault Minerals and securing tenure directly along strike from major mines such as Gwalia, King of the Hills and Ulysses. With numerous advanced targets and historical high-grade intercepts across the enlarged, contiguous package, the acquisition materially boosts CGN’s exploration pipeline and elevates its growth trajectory, giving investors increased exposure to potential new gold discoveries in one of Australia’s premier gold districts.

The most recent analyst rating on (AU:PTN) stock is a Hold with a A$0.08 price target. To see the full list of analyst forecasts on Kin Mining NL stock, see the AU:PTN Stock Forecast page.

More about Kin Mining NL

CGN Resources Limited is an Australian gold exploration company focused on the Leonora Gold Province in Western Australia. The company is building a sizeable land position around its Christmas Well and Panhandle projects, targeting highly prospective stratigraphy along strike from major Tier-1 gold operations in the region, with an emphasis on systematic, modern exploration to unlock new deposits.

Average Trading Volume: 1,401,094

Technical Sentiment Signal: Buy

Current Market Cap: A$122.8M

Find detailed analytics on PTN stock on TipRanks’ Stock Analysis page.