Barton Gold Completes Rights Acquisition for Wudinna Gold Project

Barton Gold Holdings Limited has finalized its acquisition rights for the Wudinna Gold Project from Cobra Resources PLC. Shareholders of Cobra approved the transaction, granting Barton binding rights to project ownership. This acquisition increases Barton's JORC Mineral Resources in South Australia to 2.14 million ounces of gold.

The Wudinna Gold Project, located on South Australia's Eyre Peninsula, comprises several deposits with a combined JORC 2012 estimate of 279,000 ounces of gold. Barton's Managing Director Alexander Scanlon finds the project's strategic value significant as it aligns with their long-term regional objectives.

Barton has agreed on favorable acquisition terms with Cobra, including a total consideration of $5.5 million in cash and shares. The agreement also involves contingent benefits based on future exploration results and production metrics.

This acquisition represents a crucial step for Barton, aiming to integrate Wudinna with existing assets and infrastructure, thereby enhancing its gold production capabilities in the region.