Barton Gold (ASX:BGD) is evaluating stockpiles of materials adjacent to the Central Gawler Mill and the Tarcoola Gold Project in South Australia for processing and recovery opportunities.
The $47.84 million market capitalisation company says in its latest quarterly activities report that it is continuing its regional development and assessment of potential stage-one operations utilising the Central Gawler Mill.
Further, Barton adds an independent report has valued the Central Gawler Mill and associated infrastructure at over $100 million on an ‘as new’ replacement value basis and at over $50 million on an ‘as is’ indemnity value basis.
Commenting on the company’s June 2023 quarter, Barton Gold Managing Director Alex Scanlon says: “2023 is set to be a transformative year for Barton, and the June quarter has set the tone with a 189,000-ounce upgrade at our “stage two expansion” project and an institutional placement to accelerate “stage one” development pathways.
“2023 is set to be a transformative year for Barton, and the June quarter has set the tone…”
The quarter end also marks an important corporate milestone for Barton, which celebrates 2 years as an ASX-listed company. We have considerably outperformed our IPO Prospectus budget for the period, with cash more than $5 million higher than forecast owing to optimised exploration activities and asset monetisation initiatives.
This performance is driving international awareness of Barton’s strategy, an expanding shareholder register, and increasing corporate momentum as we target further stage one and stage two resources growth during 2023.”
On 30 June 2023, the company had $10.451 million cash at hand.
Barton Gold is an ASX-listed gold exploration company focused on advancing its exploration projects and brownfield mines, alongside its wholly owned regional gold mill in the central Gawler Craton of South Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Barton Gold Holdings Ltd