Barton Gold Holdings (ASX: BGD) Announces $4.25 Million Gold Sale

Barton Gold Holdings Limited (ASX: BGD) has successfully sold approximately 1,400 ounces of gold, generating AUD $4.25 million from its December 2022 mill cleanout and preservation program. This sale, arranged through a treatment and refining contract, highlights Barton’s effective strategy in asset monetisation and project advancement.

The initial provisional payment of USD $2.82 million (AUD $4.25 million) represents 90% of the sale value, based on current assays and the average 10-day gold price. This competitive arrangement reflects the diligent efforts and commercial skill of Barton’s management team.

Managing Director Alex Scanlon expressed excitement about the sale, noting it as a significant milestone for the company and its shareholders. He pointed out that since Barton’s IPO in June 2021, the company has generated over AUD $10 million in non-dilutive cash, covering corporate costs and bolstering their financial position.

(Source: Barton Gold ASX Announcement)

Final payment will be determined after third-party weighing, sampling, and assay processes, alongside the average July gold price. This ensures a fair transaction based on precise measurements.

Back of today’s ASX announcement, $BGD shares were trading at A$ 0.285 at 3:45 PM AEST, 18th June 24.