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An announcement from Kin Mining NL ( (AU:PTN) ) is now available.
Patronus Resources has announced a selective buyback of 9.66% of its shares from St Barbara Limited, in exchange for a significant interest in Geopacific Resources. This transaction is expected to benefit all parties involved by concentrating Patronus’ share register and removing market overhang, while providing St Barbara with exposure to a promising PNG project. The buyback is subject to shareholder approval, with a general meeting to be convened for this purpose.
More about Kin Mining NL
Patronus Resources (ASX: PTN) is a leading development and exploration company based in Western Australia and the Northern Territory, focusing on gold, base metals, and uranium. The company boasts a gold Mineral Resource of over 1.2 million ounces and has recently integrated PNX Metals’ projects into its portfolio. Its primary focus is the Cardinia Gold Project in Western Australia and significant projects in the Northern Territory, including the Fountain Head Project and the Iron Blow and Mt Bonnie base metals projects.
Average Trading Volume: 1,323,169
Technical Sentiment Signal: Sell
Current Market Cap: A$91.69M
For an in-depth examination of PTN stock, go to TipRanks’ Stock Analysis page.
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