Results of Share Purchase Plan and Noosa Presentation
Adelaide, July 19, 2023 AEST (ABN Newswire) - Barton Gold Holdings Limited (ASX:BGD) is pleased to confirm the final results of the $1 million Share Purchase Plan (SPP) announced on 19 June 2023.
- $1m Share Purchase Plan (SPP) oversubscribed to a total $1,233,000
- Total 4,932,000 new SPP shares to be issued
- $11m+ estimated cash balance after $3.5m institutional placement and SPP; cash balance to be further boosted by pending gold sales (current $3.4m Au in concentrates)
- Large-scale FY24 field work programs to commence shortly including seismic and drilling
The SPP was strongly supported, with oversubscriptions to a total $1,233,000 eligible applications (following final reconciliation including like holder and custodian analysis).
The Directors have resolved to accept all eligible applications. Accordingly, a total of 4,932,000 new SPP shares will be issued pursuant to the SPP. Barton expects to issue the SPP shares tomorrow, 20 July 2023, with the shares to start trading on 21 July 2023, in accordance with the timetable in the SPP Offer Booklet.
Following this issuance, Barton's capital structure will comprise 195,286,326 fully paid ordinary shares.
The SPP was opened on 27 June 2023 and offered all eligible shareholders the opportunity to acquire new Barton shares at the same price as the Company's recent institutional placement.
Commenting on the final SPP results, Barton MD Alex Scanlon said:
"We are honoured to receive positive feedback and broad support from our existing shareholders, who join several new high quality institutional investors to advance our regional development strategy in South Australia.
"Together with pending gold concentrates proceeds, Barton has a strong treasury position which will continue to be responsibly managed as we target regional growth and potential 'Stage 1' development pathways. Major FY24 field programs, including seismic surveys and Resource growth drilling, will start in the coming weeks."
To view the Noosa Mining Conference Presentation, please visit:
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.