Australian gold exploration company Barton Gold (ASX:BGD) reports that it has sold a further 164.8 ounces of gold for more than $490,000 to precious metal and gold bullion specialist ABC Bullion.
The ounces sold represent the balance from the June 2022 sale parcel. Additionally, the company reports that the gold was sold at $2,977.35 per ounce, totalling the cash received at almost $490,630.
Commenting on the latest gold sale, Barton Gold Managing Director Alex Scanlon says: “Our substantial asset base gives us unique advantages, not only in terms of a future low-cost and low-risk transition back to operations but also opportunities to carefully monetise these assets and extend our treasury.
“Our substantial asset base gives us unique advantages, not only in terms of a future low-cost and low-risk transition back to operations but also opportunities to carefully monetise these assets and extend our treasury”
Since our June 2022 IPO, our revenue initiatives have generated over AUD $5 million and non-dilutive cash for Barton. We are focused on building additional resources for an optimal future restart of operations, and will continue to advance asset monetisation opportunities in parallel, including gold sales from our December 2022 work.”
During a cleanout and preservation program in December 2022, Barton Gold recovered an additional 10-plus tonnes of gold-bearing materials.
The company reports these materials have not yet been fully processed or sold. However, they are expected to represent an additional gold sales income for Barton in due course.
Barton Gold is an ASX-listed gold exploration company with a total attributable around 1.1Moz Au JORC 2012 mineral resources endowment. The company has a pipeline of ‘advanced’ exploration projects and brownfield mines and wholly owns the only regional gold mill in the Central Gawler Craton of South Australia.
Images: Barton Gold Holdings Ltd
