Barton Gold (ASX:BGD) has reminded shareholders that its $1 million non-underwritten Share Purchase Plan (SPP) closes on 14 July 2023 at 5:00pm AWST.
The $48.54 million market capitalisation company says the SPP offers all eligible shareholders the opportunity to acquire new Barton shares at $0.25 a pop — the same price as the company’s recent institutional placement.
Commenting on the SPP, Barton Gold Managing Director Alex Scanlon says: “Barton is very well capitalised for our continued growth and evaluation of potential ‘Stage One’ development pathways.
“The proceeds of the SPP … will further reinforce our treasury and the ability to capture high-value opportunities”
The proceeds of the SPP, along with other continued asset monetisation initiatives such as gold concentrates sales, will further reinforce our treasury and the ability to capture high-value opportunities.
We encourage eligible shareholders who are interested to extend their participation in Barton to take up the opportunity to acquire shares directly from the company.”
Barton notes a letter to shareholders and a booklet containing the full SPP details were published on the ASX, with the letter and an application form mailed to eligible shareholders, on 27 June 2023.
Barton says it had a cash balance of more than $10 million at the end of June following its recent $3.5 million placement.
Barton Gold is an Australian gold exploration company focused on its pipeline of ‘advanced’ 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 Ltd
