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Kin Mining NL ( (AU:PTN) ) has provided an update.
Patronus Resources has announced a strategic move to acquire a substantial 15.7% stake in Geopacific Resources Limited, amounting to 500 million shares for $10 million. This acquisition, combined with the holdings of major Patronus shareholders Deutsche Balaton and Delphi, results in a combined relevant interest of 61.8% in Geopacific. This investment is poised to enhance Patronus’s strategic influence in the industry, potentially offering significant operational and market advantages.
More about Kin Mining NL
Patronus Resources Ltd is a prominent exploration and development company in Northern Territory and Western Australia, specializing in gold, base metals, and uranium. The company boasts a significant mineral resource base, including over 1.4 million ounces of gold. Their projects are strategically located in regions known for substantial gold and uranium deposits, such as the Pine Creek Orogen and the North-Eastern Goldfields in Western Australia.
YTD Price Performance: 20.0%
Average Trading Volume: 1,337,388
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$98.24M
For a thorough assessment of PTN stock, go to TipRanks’ Stock Analysis page.
