Barton Gold Holdings (OTCQB:BGDFF) is advancing its acquisition of the Wudinna Gold Project, a South Australian asset boasting 279,000 ounces of gold resources. Cobra Resources PLC, the seller, has set a shareholder vote for July 24, 2025, with a significant 39.38% of shareholders already committed to a favorable outcome. The transaction is valued at A$5.5 million, structured as A$500,000 in cash and A$5 million in Barton shares, to be issued in two tranches. This strategic move solidifies Barton’s plan to leverage its existing gold mill infrastructure in the central Gawler Craton region, paving the way for future production growth.
Barton Gold Holdings (OTCQB:BGDFF) sta portando avanti l’acquisizione del Progetto Oro Wudinna, un asset dell’Australia Meridionale che vanta 279.000 once d’oro in risorse. Cobra Resources PLC, il venditore, ha fissato un’assemblea degli azionisti per il 24 luglio 2025, con un significativo 39,38% degli azionisti già impegnati per un esito favorevole. La transazione è valutata 5,5 milioni di dollari australiani, strutturata come 500.000 dollari australiani in contanti e 5 milioni di dollari australiani in azioni Barton, da emettere in due tranche. Questa mossa strategica consolida il piano di Barton di sfruttare la sua attuale infrastruttura di impianti d’oro nella regione centrale del Gawler Craton, aprendo la strada a una futura crescita della produzione.
Barton Gold Holdings (OTCQB:BGDFF) está avanzando en la adquisición del Proyecto de Oro Wudinna, un activo de Australia del Sur con 279.000 onzas de recursos de oro. Cobra Resources PLC, el vendedor, ha fijado una votación de accionistas para el 24 de julio de 2025, con un significativo 39,38% de los accionistas ya comprometidos con un resultado favorable. La transacción está valorada en 5,5 millones de dólares australianos, estructurada como 500.000 dólares australianos en efectivo y 5 millones de dólares australianos en acciones de Barton, a emitir en dos tramos. Este movimiento estratégico consolida el plan de Barton de aprovechar su infraestructura de planta de oro existente en la región central del Cratón de Gawler, allanando el camino para el crecimiento futuro de la producción.
Barton Gold Holdings (OTCQB:BGDFF)는 279,000온스의 금 자원을 보유한 남호주 자산인 Wudinna 금 프로젝트 인수를 추진하고 있습니다. 매도자인 Cobra Resources PLC는 2025년 7월 24일에 주주 투표를 예정하고 있으며, 이미 39.38%의 주주가 긍정적인 결과에 서명했습니다. 이번 거래는 현금 50만 호주 달러와 바튼 주식 500만 호주 달러로 구성되며, 두 차례에 걸쳐 발행될 예정입니다. 이 전략적 움직임은 바튼이 중앙 Gawler Craton 지역에 보유한 기존 금광 시설을 활용하여 향후 생산 성장을 위한 계획을 확고히 하는 것입니다.
Barton Gold Holdings (OTCQB:BGDFF) fait progresser l’acquisition du projet aurifère de Wudinna, un actif d’Australie-Méridionale qui détient 279 000 onces d’or en ressources. Cobra Resources PLC, le vendeur, a fixé un vote des actionnaires pour le 24 juillet 2025, avec un nombre significatif de 39,38 % d’actionnaires déjà engagés envers un résultat favorable. La transaction est évaluée à 5,5 millions de dollars australiens, structurée en 500 000 dollars australiens en espèces et 5 millions de dollars australiens en actions Barton, qui seront émises en deux tranches. Cette décision stratégique consolide le plan de Barton visant à exploiter son infrastructure existante d’usine d’or dans la région centrale du Craton de Gawler, ouvrant la voie à une croissance future de la production.
Barton Gold Holdings (OTCQB:BGDFF) treibt die Übernahme des Wudinna Goldprojekts voran, eines australischen Vermögenswerts mit 279.000 Unzen Goldressourcen. Cobra Resources PLC, der Verkäufer, hat eine Aktionärsabstimmung für den 24. Juli 2025 angesetzt, wobei bereits signifikante 39,38 % der Aktionäre eine positive Entscheidung zugesagt haben. Die Transaktion hat einen Gesamtwert von 5,5 Millionen AUD, bestehend aus 500.000 AUD in bar und 5 Millionen AUD in Barton-Aktien, die in zwei Tranchen ausgegeben werden. Dieser strategische Schritt festigt Bartons Plan, seine bestehende Goldmühleninfrastruktur im zentralen Gawler Craton zu nutzen und ebnet den Weg für zukünftiges Produktionswachstum.
Negative
- The issuance of an additional 6.41 million shares could lead to dilution for existing shareholders.
- Several conditions precedent and documentation requirements are still pending for the transaction’s completion.
07/07/2025 – 07:36 PM
Cobra Resources PLC has issued its Notice of Meeting, signaling progress towards the Wudinna Gold Project acquisition.
Key Developments:
- Binding agreement in place for Barton Gold Holdings (BGDFF) to acquire Cobra’s Wudinna Gold Project, located in South Australia and holding 279,000 ounces of gold resources. The deal is contingent on Cobra shareholder approval.
- Cobra has scheduled its shareholder vote for July 24, 2025, with current irrevocable undertakings from directors and shareholders indicating a strong 39% support for the transaction.
ADELAIDE, AUSTRALIA / ACCESS Newswire / July 7, 2025 – Barton Gold Holdings Limited (ASX:BGD)(FRA:BGD3)(OTCQB:BGDFF), referred to herein as Barton or the Company, has provided a crucial update on its agreement to acquire the Wudinna Gold Project (Wudinna) from Cobra Resources PLC (Cobra). The issuance of Cobra’s Notice of General Meeting, scheduled for July 24, 2025, marks a significant step forward, with the Company noting that as of July 4, 2025, directors and certain shareholders have committed to voting in favor, representing approximately 39.38% of Cobra’s shares. The outcome of this pivotal meeting will be communicated to the market accordingly.
Under the terms of the acquisition agreement, Barton has paid Cobra a non-refundable deposit of A$50,000. Upon securing Cobra’s shareholder approval on July 24, 2025, and satisfying other customary conditions, Barton will proceed with the acquisition. This includes the signing of Escrow and Orderly Market Agreements, along with other necessary transaction documentation and operating agreements. The deal structure also involves further payments and the issuance of Barton shares to Cobra, totaling approximately 6.41 million shares across two tranches, comprising A$800,000 and A$4,200,000, respectively.
|
Agreement Signing |
Grant of New Tenements |
Final Settlement |
Total |
|
|
Cash |
A$50,000 |
A$150,000 |
A$300,000 |
A$500,000 |
|
Barton shares |
A$800,000 |
A$4,200,000 |
A$5,000,000 |
|
|
Total |
A$50,000 |
A$950,000 |
A$4,500,000 |
A$5,500,000 |
Barton Managing Director Alexander Scanlon commented:
“We are honored by the strong early support from Cobra’s major shareholders and the overwhelmingly positive feedback from Barton’s investors for this mutually beneficial transaction.
“Over the past five years, Barton has strategically built a long-term South Australian gold development platform centered on the Gawler Craton, complete with the region’s only gold mill. As we prepare to leverage this critical infrastructure for a lower-risk, cost-effective, and less dilutive transition to becoming a producer, we remain focused on expanding our production pipeline. Wudinna presents significant strategic options for us in the region, and we look forward to welcoming Cobra as a shareholder as we continue to build value across our operations.”
The Board of Directors of Barton Gold Holdings Limited authorized this announcement.
About Barton Gold
Barton Gold is an Australian gold explorer and developer listed on the ASX, OTCQB, and Frankfurt Stock Exchange. The company is targeting an annual gold production of 150,000 ounces, supported by JORC-compliant Mineral Resources of 1.9 million ounces of gold and 3.1 million ounces of silver. Barton holds 100% of mature, ready-to-mine brownfield mines and the sole gold mill in the prolific Gawler Craton of South Australia.
Competent Persons Statement & Previously Reported Information
This announcement contains information regarding Exploration Results and Mineral Resources that has been prepared by Competent Persons who are members of the Australasian Institute of Mining and Metallurgy (AusIMM), Australian Institute of Geoscientists (AIG), or a Recognised Professional Organisation (RPO). These individuals possess relevant experience in their respective fields and have qualified as Competent Persons under the JORC Code 2012. Barton confirms that all material assumptions and technical parameters underpinning previously reported estimates, including production targets and financial forecasts, remain valid and have not materially changed. The Company also confirms that the presentation of findings has not been materially altered from previous disclosures.
Cautionary Statement Regarding Forward-Looking Information
This document may contain forward-looking statements, identified by terms such as “seek,” “anticipate,” “believe,” “plan,” “expect,” “target,” and “intend,” or expressions indicating future events or outcomes. These statements are subject to inherent business, legal, and economic risks and uncertainties that could cause actual results to differ materially. Such risks include, but are not limited to, those related to property interests, the global economic climate, commodity prices, sovereign and legal risks, and environmental factors. Forward-looking statements are based on current estimates and opinions and Barton undertakes no obligation to update them for subsequent events or circumstances. Projections regarding future events are based on Barton’s best judgment using available information, and there is no guarantee that these projections will be achieved. Actual results may vary significantly. Readers are cautioned against placing undue reliance on these forward-looking statements due to inherent uncertainties.
[1] Referencing the ASX announcement dated June 30, 2025.
[3] The issuance of Barton shares for the transaction is based on the 30-day volume-weighted average price (VWAP) of Barton shares as of market close on June 27, 2025, which was A$0.7800165.
* Barton’s JORC (2012) Mineral Resources, as detailed in the May 14, 2021 Prospectus and the June 30, 2025 ASX announcement, include 1.031 million ounces of gold (39.3 million tonnes at 0.82 g/t Au) in the Indicated category and 834,000 ounces of gold (33.8 million tonnes at 0.77 g/t Au) in the Inferred category. Additionally, 3.070 million ounces of silver (34.5 million tonnes at 2.80 g/t Ag) are reported as a subset of the Tunkillia gold JORC (2012) Mineral Resources.
SOURCE: Barton Gold Holdings Limited
View the original press release on ACCESS Newswire
[2] Refer to the ASX announcement dated 30 June 2025.
Frequently Asked Questions
What is the total value of Barton Gold’s (BGDFF) Wudinna acquisition?
The total acquisition value is A$5.5 million, comprising A$500,000 in cash and A$5 million in Barton shares.
How many gold ounces does the Wudinna Project contain?
The Wudinna Gold Project contains 279,000 ounces of gold resources in South Australia.
When is the Cobra shareholder vote for the Wudinna acquisition?
The Cobra Resources shareholder vote is scheduled for July 24, 2025.
What percentage of Cobra shareholders support the Wudinna sale to Barton?
39.38% of Cobra shareholders, including all Directors, have provided irrevocable undertakings to vote in favor of the transaction.
How many new shares will Barton Gold issue for the Wudinna acquisition?
Barton Gold will issue approximately 6.41 million shares to Cobra Resources, split between 1.03 million shares (A$800,000) and 5.38 million shares (A$4,200,000).
