Barton Gold Holdings Ltd $25 Million Institutional Placement
Key points
- Placement of 30 million new shares to raise $25.5 million
- Placement price of $0.85 per share, a discount to last traded price
- Funds to complete key value-add milestones at Challenger, Tunkillia, and Tolmer
Full summary
Barton Gold Holdings Ltd has announced a $25.5 million institutional placement to raise funds for its projects. The placement consists of 30 million new shares at $0.85 each, representing a 3.4% discount to the last traded price and a 7.5% discount to the 10-day VWAP. The funds will support key milestones, including JORC Mineral Resource updates, conversion to Ore Reserves, and feasibility studies for the Challenger, Tunkillia, and Tolmer projects. Major upgrade drilling programs are nearing completion, and discussions for potential low dilution funding pathways are ongoing.
Guidance
Barton Gold Holdings Ltd expects total costs of the Placement to be less than 2.5% of total proceeds.
Outlook
Barton Gold Holdings Ltd is fully funded to complete key value-add milestones, with discussions for potential low dilution funding pathways under review.
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