Platina (ASX:PGM) Completes Mt Morgans South Acquisition, Shares Jump 5%

PGM

2 min read | June 18, 2026 03:21 PM AEST | By Sonal Goyal

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Platina (ASX:PGM) Completes Mt Morgans South Acquisition, Shares Jump 5% — Image source: Company update

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Highlights

Platina Resources has completed the acquisition of 18 tenements at Mt Morgans South.

The transaction includes AUD 100,000 cash and 5 million shares issued to Genesis Minerals.

The transaction includes an additional AUD 550,000 milestone payment linked to a 200,000-ounce JORC resource threshold.

A structured exploration program is planned, focusing on data review, heritage agreements, soil sampling, and drill target generation within the Mt Morgans gold district.

Platina Resources Limited (ASX:PGM) has completed the acquisition of the Mt Morgans South Project from ASX-listed Genesis Minerals Limited, securing full ownership of a package of tenements in Western Australia’s Mt Morgans gold district near Laverton.

Triggered by the update, PGM shares rose more than 5% to AUD 0.020 on 18 June 2026.

Acquisition Finalised in Laverton Gold District

The transaction provides PGM with a 100% interest in 18 tenements comprising four Exploration Licences and 14 Prospecting Licences. These assets are located in the highly prospective Mt Morgans gold district, a well-established gold-producing region in Western Australia.

Acquisition Consideration

As part of the transaction, the company has paid Genesis Minerals AUD 100,000 in cash and issued 5 million shares, valued at AUD 100,000, as initial consideration.

A further AUD 550,000 milestone payment remains payable to Genesis Minerals, either in cash or shares at its discretion. This payment will be triggered upon the definition of a JORC-compliant Mineral Resource containing at least 200,000 ounces of gold within the project area.

Planned Exploration Program Initiated

The Mt Morgans South Project compliments PGM’s existing Laverton-region assets, including Mt McKenna and Sunrise Bore (subject to completion). The acquisition further consolidates the company’s position within one of Western Australia's established gold districts.

With the acquisition now finalised, Platina Resources has expanded its presence in the Laverton region through full control of the Mt Morgans South Project. The defined exploration roadmap sets the foundation for advancing project assessment and prioritising target development across the newly acquired tenement package.

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