Barton Gold Completes $3M Placement at $0.70 to Fund Resource Upgrades

Capital Raise Signals Investor Confidence

Barton Gold Holdings Limited (ASX – BGD) has successfully completed a $3 million premium placement priced at $0.70 per share, representing a 4% premium to its last traded price and a notable 25% premium to its one-month volume weighted average price. This capital injection is earmarked primarily for drilling programs designed to upgrade the JORC resources at the Tunkillia Gold Project’s high-value Starter Pit.

Accelerating Exploration at Tunkillia and Tolmer

The company has already commenced drilling activities, focusing on the recently discovered high-grade silver zones at the Tolmer prospect. Notably, the western silver zone at Tolmer has previously yielded exceptional assay results, including silver grades as high as 17,600 grams per tonne, underscoring the potential for significant resource expansion. Concurrently, the funds will support Reserve conversion drilling at Tunkillia, which is critical for advancing the project towards mining lease approvals and pre-feasibility studies.

Strategic Growth with Low Dilution

Managing Director Alexander Scanlon highlighted the placement as a strong endorsement of Barton’s disciplined approach to growth, which balances capital raising with minimal shareholder dilution. Since its IPO in 2021, Barton has raised less than $13 million in new equity while generating over $12 million through non-dilutive asset monetisation, reflecting a strategic focus on preserving shareholder value.

Infrastructure and Regional Advantage

Barton’s assets are strategically located in South Australia’s Gawler Craton, a region known for its rich mineral endowment. The company owns the region’s only gold processing plant, capable of processing 650,000 tonnes per annum, which provides a significant operational advantage. The Tunkillia project alone boasts 1.6 million ounces of gold and 3.1 million ounces of silver in JORC resources, positioning Barton well for future production targeting approximately 150,000 ounces of gold annually.

Looking Ahead

With drilling underway and funds secured, Barton is poised to deliver meaningful updates on resource upgrades and project development milestones in the coming months. The company’s focus on high-grade discoveries and efficient capital management continues to attract investor interest amid a competitive exploration landscape.