Barton Gold (ASX:BGD) reports it has sold a minority portion of its Central Gawler Craton mine camp located in South Australia for $725,000 in gross proceeds.
The company states the funds received will be directed towards ongoing ‘large-scale’ exploration programs at the company’s Tarcoola and Tunkillia Gold Projects.
Barton reports the camp is owned by a wholly owned subsidiary of Barton and is part of the company’s broader Infrastructure hub which includes the Central Gawler Mill.
The portion sold represents the capacity which is surplus to Barton’s regional strategy and requirements.
Barton Managing Director Alexander Scanlon said: “We are pleased to share this news with investors, with the sale of surplus camp representing the continuation of several value-add corporate initiatives underway in parallel with large-scale exploration.
“We will continue to monetise our surplus assets to generate capital internally and without shareholder dilution”
We will continue to monetise our surplus assets to generate capital internally and without shareholder dilution, and the direct proceeds towards high-value exploration programs and development initiatives.”
Barton reports this sale follows the earlier disposal of another minor portion of its Central Gawler Craton mine camp for $737,500 in June this year.
Barton Gold is an ASX-listed Australian gold exploration company focused on the Tarcoola Gold Project, the Tunkillia Gold Project and the Central Gawler Mill, all located in South Australia.
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