Barton Gold (ASX:BGD) reports it has sold a portion of its central Gawler Craton mine camp for $737,500 plus GST with the funds raised to be directed towards ongoing large-scale exploration programs.
The portion of the camp sold, which is owned by a wholly owned subsidiary of Barton and is a part of its broader Infrastructure Hub that includes the Central Gawler Mill, was surplus to the company’s requirements.
Proceeds from the sale will be invested in exploration programs at the Barton’s Southern Hub, which hosts the Tarcoola and Tunkillia Gold Projects.
“the current environment of high asset prices presents strong opportunities to realise significant value”
The sale of surplus camp is the first of several value-add corporate initiatives the company has underway in parallel with its expansive regional exploration program.
Commenting on the sale, Barton Managing Director Alexander Scanlon said: “The Central Gawler Mill will initially service regional toll milling and Stage 1 Tarcoola operations, so the current environment of high asset prices presents strong opportunities to realise significant value, strategically re-stock capital from internal sources, and direct proceeds toward high-value exploration.”
Barton Gold has 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.
Images: Barton Gold Holdings Ltd