( Image: ACB News)

█ ｜By ACB News / Jack

Barton Gold Holdings Limited (ASX: BGD) has successfully completed a A$3 million premium placement to Australian precious metals-focused investors, strengthening its balance sheet to support ongoing drilling at the flagship Tunkillia Gold Project and accelerating exploration at its high-grade Tolmer silver discovery.

The placement was priced at A$0.70 per share, representing a 4% premium to the last traded price of A$0.675 per share as of Thursday, 22 May 2025, and a 25% premium to the company’s 20-day VWAP of A$0.562. A total of 4,285,722 new fully paid ordinary shares were issued under ASX Listing Rule 7.1, with no brokerage fees or commissions incurred.

Proceeds from the placement will primarily fund a Reserve conversion drilling campaign targeting the high-priority Starter Pit zone at Tunkillia, scheduled to commence in September 2025. The company also confirmed that reverse circulation (RC) drilling has now commenced at the western silver zone of the Tolmer discovery, where historical assays returned up to 17,600 g/t silver.

Managing Director Alexander Scanlon noted that the strong market reception to the placement underscores continued investor confidence in Barton’s capital-efficient development strategy. Since listing on the ASX in June 2021 at an IPO price of A$0.25 per share, Barton has raised less than A$13 million in equity while generating over A$12 million in non-dilutive funding through strategic asset monetisation.

“We are excited to be accelerating several value-accretive workstreams, including Stage 1 operational planning, the Tunkillia Mining Lease and Pre-Feasibility Study program, and fast-tracked follow-up drilling at Tolmer,” Scanlon said.

Headquartered in Adelaide, Barton Gold holds a strategic footprint in South Australia's Gawler Craton, controlling more than 1.6 million ounces of gold and 3.1 million ounces of silver in JORC-compliant Mineral Resources across the Tunkillia and Tarcoola projects. The company also owns the Central Gawler Mill, South Australia’s only gold processing facility with mining and processing permits, positioning it uniquely for near-term development.

As of Tuesday morning, Barton shares were trading at A$0.82, giving the company a market capitalisation of approximately A$181 million. The stock has surged 160% over the past 12 months, making Barton one of the strongest performers in Australia’s listed gold sector.

Copyright Notice:

ACB News reserves full copyright over all articles explicitly marked as "original" content.

No media outlet, corporate website, platform, or app within Australia may reproduce, excerpt, adapt, or republish such content in any form without prior written authorization from ACB News.

Any unauthorized use or reproduction—including via third-party platforms—will be considered an infringement. ACB News reserves the right to pursue legal action against any such violations.