Retirement of Director
Adelaide, June 30, 2023 AEST (ABN Newswire) - Barton Gold Holdings Limited (
ASX:BGD) advises that Mr Neil Rose will retire as a Non-executive Director effective 30 June 2023 to pursue his other business initiatives.
Mr Rose was a founding Director of the Company and was appointed to the Board on 14 May 2019. His tenure as Director has seen the Company through the acquisition and expansion of its strategic ground and infrastructure position in South Australia, the completion of the Company's initial public offering (IPO) on 28 June 2021, and its considerable outperformance of the Company's IPO budget.
A Final Directors' Interest Notice for Mr Rose will be released in due course.
Barton Gold Chair, Mr Ken Williams commented:
"Together with my fellow Directors, I would like to acknowledge and thank Neil for his contributions to Barton and the Board of Directors. Notwithstanding his extensive professional obligations, he has offered a substantial commitment of time during the Company's most critical stages of establishment and subsequent evolution, and following Barton's IPO generously extended this contribution to see the Company through its Prospectus period.
"Since Barton's June 2021 IPO, the Company has diligently executed the strategy and program of exploration and evaluation activities as set out in the Prospectus. This has been undertaken in parallel with multiple additional asset monetisation initiatives, generating substantial revenues from the Company's asset base whilst preserving shareholder funds. These revenues have allowed Barton to significantly extend its treasury and cover all corporate costs since the IPO from surplus non-dilutive funds, thereby allowing Barton to direct additional IPO funds toward project works.
"As a result, the Company has consistently maintained a much higher cash balance than originally forecast in its Prospectus. This capital preservation, together with a recently completed placement to several new institutional investors, has placed the Company on a solid foundation for continued future growth.
"As part of the Company's normal Board succession and renewal planning, Barton is completing a review of the mix of skills, experience and diversity of our Board as we continue our development-focused journey. We expect to announce a replacement Director in due course."
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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