Central Gawler Mill Valued at Over $100m Replacement Cost
Adelaide, June 1, 2023 AEST (ABN Newswire) - Barton Gold Holdings Limited (
ASX:BGD) is pleased to provide an update regarding its ongoing assessment of the Central Gawler Mill for potential future Stage 1 operations.
In December 2022 Barton completed a preliminary preservation program at the Central Gawler Mill to assist recommissioning scope and cost estimates, with key equipment disassembled, cleaned and stored.
Following these works Barton also commissioned an independent valuation report of the mill and associated site infrastructure. The purpose of this report is to inform the appropriate level of insurance cover to protect these strategic assets while Barton continues its regional development and assessment of potential options to commence accelerated 'Stage 1' operations utilising the Central Gawler Mill.
This report has valued the Central Gawler Mill and associated infrastructure at over $100 million on an 'as new' replacement value basis, and over $50 million on an 'as is' indemnity value basis.
Commenting on the Central Gawler Mill valuation report, Barton MD Alex Scanlon said:
"The Central Gawler Mill is uniquely valuable strategic infrastructure for Barton. Being fully permitted and licensed, it provides considerable leverage to the regional development of gold mineralisation via either (or both of) third party toll milling or accelerated commissioning of 'Stage 1' operations utilising Tarcoola mineralisation.
"The mill provides Barton a significant advantage in 'crossing the drawbridge' into operations on a much lower cost-and-risk basis, while potentially generating significant early cash to fund our larger long-term ambitions."
About Barton Gold Holdings Limited
Barton Gold Holdings Limited (ASX:BGD) (FRA:BGD3) (OTCQB:BGDFF) is an ASX listed Australian gold exploration company with a total attributable ~1.1Moz Au JORC (2012) Mineral Resources endowment (28.74Mt @ 1.2 g/t Au), a pipeline of advanced exploration projects and brownfield mines, and 100% ownership of the only regional gold mill in the central Gawler Craton of South Australia.
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