Barton Gold Completes $26 Million Placement
Key points
- $25.9m Placement completed at $0.85/share, 3.4% discount to last traded price
- Funds key milestones including JORC updates, DFS, PFS, and Mining Lease
- Major drilling programs nearing completion; discussions for low dilution funding
Full summary
Barton Gold Holdings Ltd announced the completion of a $25.9 million placement to institutional investors at $0.85 per share, representing a 3.4% discount to the last traded price. The placement, slightly increased to accommodate additional demand, will fund key value-add milestones including JORC Mineral Resource updates, a Definitive Feasibility Study for the Challenger Gold Project, a Pre-Feasibility Study and Mining Lease application for the Tunkillia Gold Project, and infill and extension drilling for the Tolmer silver prospect. Barton is well-positioned with over $30 million in cash and a strategic diesel reserve to deliver project and shareholder value.
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