Patronus Resources Limited (ASX:PTN) Acquires Stake in Emmerson Resources
Strategic Investment
Patronus Resources Limited (ASX: PTN) has acquired a 7.73% shareholding in Emmerson Resources Limited (ASX: ERM), purchasing 49,144,000 shares for a total consideration of $5.406 million at $0.11 per share. The shares were acquired off-market.
Investment Rationale
The investment provides Patronus with exposure to strategic exploration and M&A activity in the highly prospective Tennant Creek district of the Northern Territory. Emmerson’s portfolio includes 866,000oz of gold and a 6% uncapped gross production royalty, positioning the company for potential future growth.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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