Barton Gold Completes $5 Million Gold Sale

Barton Gold Holdings Limited announced the successful completion of a gold sale worth $5 million. In June 2024, the company sold approximately 1,425 ounces of gold from its mill cleanout and preservation program at the Central Gawler Mill, South Australia. Barton received an initial payment of USD $2.82 million as 90% of the provisional payment, followed by a final payment of USD $495,000, based on analyses and the average London gold price.

The gold concentrates, weighing around 11.1 dry metric tonnes, underwent independent third-party testing confirming an average gold grade of 3,997 g/t. Barton estimates total recovery and processing costs at $800,000, resulting in a net profit margin of approximately $4.2 million.

Barton Managing Director Alex Scanlon expressed satisfaction with the results, citing the company's effective asset monetisation strategy that generated over $10 million in non-dilutive cash since its June 2021 IPO. This has supported corporate overheads and exploration programs while minimizing equity dilution for shareholders.