Follows $3m institutional placement and start of high-grade target drilling
Letter to Eligible Shareholders and SPP Booklet
Adelaide, April 9, 2024 AEST (ABN Newswire) - Barton Gold Holdings Limited's (
ASX:BGD) (BGD3:FRA) (BGDFF:OTCMKTS) $1m Share Purchase Plan (SPP) has opened, following our $3m institutional placement to fund Tunkillia studies and Tarcoola high grade drilling.
HIGHLIGHTS
- $1m Share Purchase Plan (SPP) now open following $3m placement
- $0.24 SPP purchase price is a ~17% discount to yesterday's close of $0.29
- ~$7m estimated pro-forma cash after $1m SPP, before any proceeds from Barton's ongoing gold concentrates sales tender (~1,400oz contained Au)
Tarcoola drilling has started immediately following the placement, with open pit drilling starting yesterday, targeting immediate extension of pit floor mineralisation.
Following the $1m SPP, the Company will have an estimated pro-forma cash balance of ~$7 million, before any proceeds from our pending gold concentrates sales.
The SPP is an opportunity for all eligible shareholders to extend their participation in Barton's story. Please see the SPP Booklet published today for full details of the SPP.
2024 is set to be a very exciting year for Barton Gold and we are very well capitalised to pursue our several project and corporate value-add objectives. We encourage eligible shareholders to take up the SPP opportunity and thank you for your support.
*To view a detailed copy of this announcement, please visit:
https://abnnewswire.net/lnk/U0OH5P3T
About Barton Gold Holdings Limited
Barton Gold Holdings Limited (ASX:BGD) (FRA:BGD3) (OTCQB:BGDFF) is an ASX listed Australian gold exploration company with a total attributable ~1.1Moz Au JORC (2012) Mineral Resources endowment (28.74Mt @ 1.2 g/t Au), a pipeline of advanced exploration projects and brownfield mines, and 100% ownership of the only regional gold mill in the central Gawler Craton of South Australia.
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