Barton Gold (ASX:BGD) has successfully completed a $3 million premium placement to Australian investors. The funds are earmarked to accelerate exploration and development initiatives, primarily focusing on Reserve conversion upgrade drilling for the Tunkillia ‘Starter Pit’ project, slated for around September 2025. The placement was priced at $0.70 per share, representing approximately a 4% premium to the last traded price of $0.675 and a 25% premium to the one-month VWAP of $0.562. The placement was managed in-house, incurring no brokerage costs or fees.
Drilling is also underway at the high-grade Tolmer silver discovery, with priority given to the ‘western silver’ zone, where previous drilling intersected significant silver assays, reaching up to 17,600 g/t Ag. Barton identified Tolmer as a high-grade gold discovery in August 2024, with subsequent drilling uncovering a ‘silver zone’ approximately 500m west. The current 3,000m reverse circulation drilling program will target the ‘western silver’ zones with the aim of extending the area.
Barton Gold’s Managing Director, Alexander Scanlon, highlighted the success of the placement as a strong endorsement of the company’s low-dilution development strategy. Since its IPO in June 2021, Barton has raised less than $13 million in new equity while generating over $12 million in non-dilutive funds through asset monetization. This strategy has enabled substantial progress and value creation with minimal shareholder dilution. The company is advancing ‘Stage 1’ operations plans, the Tunkillia long-lead Mining Lease, PFS programs, and expedited drilling on Tolmer’s gold and silver discoveries.
