Patronus Resources Announces Strategic Share Buyback and Asset Exchange with St Barbara

St. Barbara ( (AU:SBM) ) has shared an announcement.

Patronus Resources has announced a selective buyback of 158,125,983 shares from St Barbara Limited, representing a 9.66% concentration of its share register. This move is part of a transaction where Patronus will transfer shares in Geopacific Resources to St Barbara, aligning with St Barbara’s strategy to enhance its portfolio value. The transaction is expected to benefit all parties involved, including shareholders of Patronus, Geopacific, and St Barbara, by removing market overhang and enhancing project exposure.

The most recent analyst rating on (AU:SBM) stock is a Buy with a A$0.28 price target. To see the full list of analyst forecasts on St. Barbara stock, see the AU:SBM Stock Forecast page.

More about St. Barbara

Patronus Resources (ASX: PTN) is a prominent development and exploration company based in Western Australia and the Northern Territory, focusing on gold, base metals, and uranium. The company boasts a significant gold Mineral Resource and has integrated PNX Metals’ projects into its operations. Its key project, the Cardinia Gold Project, is located in the North-Eastern Goldfields region, and it also holds substantial assets in the Northern Territory.

Average Trading Volume: 6,838,207

Technical Sentiment Signal: Buy

Current Market Cap: A$368.2M

Learn more about SBM stock on TipRanks’ Stock Analysis page.