Barton Gold Boosts Resources to 2.14Moz with 279koz Wudinna Deal

Strategic Acquisition Bolsters Barton’s South Australian Gold Footprint

Barton Gold Holdings Limited has taken a significant step forward in its regional development strategy with the completion of binding rights to acquire the Wudinna Gold Project from Cobra Resources PLC. This transaction, ratified by Cobra’s shareholders in a UK meeting on 24 July 2025, adds a substantial 279,000 ounces of gold resources to Barton’s portfolio, lifting its total South Australian JORC Mineral Resources to over 2.14 million ounces.

The Wudinna Project, located on South Australia’s Eyre Peninsula, comprises multiple deposits including Barns, White Tank, Clarke, and Baggy Green, collectively hosting a JORC-compliant resource estimated at 5.81 million tonnes grading 1.5 grams per tonne gold. This acquisition complements Barton’s existing assets such as the Challenger, Tarcoola, and Tunkillia projects, reinforcing its position as a leading gold developer in the region.

Deal Structure and Financial Considerations

The acquisition terms reflect a balanced approach between upfront payments and contingent benefits. Barton has already paid a non-refundable deposit of $50,000 in cash, with a final settlement package comprising $4.2 million in cash and $800,000 in Barton shares, subject to tenement grant or transfer. Additional contingent payments include share issuances upon resource milestones and a production benefit capped at $7.5 million, which Barton can repurchase at a discount.

Share issuance related to the deal will be subject to escrow arrangements, ensuring orderly market conduct and protecting shareholder interests. Cobra shareholders will maintain exposure to gold through their holdings in Barton, aligning incentives as both companies focus on their respective strategic priorities, gold for Barton and rare earths for Cobra.

Looking Ahead – Integration and Resource Growth Potential

With binding rights secured, Barton’s management is poised to integrate Wudinna into its broader South Australian gold platform. Managing Director Alexander Scanlon highlighted the project’s strategic value and the company’s intent to leverage its technical expertise and infrastructure to unlock further value. The pending re-estimation of the Challenger underground mine resource adds another layer of growth potential to Barton’s portfolio.

While the resource estimates for Wudinna were prepared by Cobra and have not yet been independently validated by Barton, the company expresses confidence in their reliability and plans to undertake further technical evaluations post-settlement. This cautious yet optimistic approach underscores Barton’s commitment to disciplined growth and value creation.

Regulatory and Reporting Transparency

Barton has provided comprehensive disclosures in line with ASX requirements, including detailed JORC Mineral Resource statements and competent persons’ reports. The company also issued cautionary statements regarding forward-looking information and the need for further validation of resource estimates. This transparency is critical for investor confidence as Barton advances the Wudinna acquisition towards final settlement and operational integration.