Placement $6 mio with directors anticipate offering ...

Placement $6 mio with directors anticipate offering  non-renounceable entitlements issue expected at 1:10 (raise up to $4.26 mil)  at $0.04 cents 
21.5% discount to the close 5.1 and 16.6% discount to 10-day vwap $0.048.. 

Why ?

• Highly prospective exploration play
• Prospective areas outlined for further drilling success,  drilling underway at high probability targets – See last two announcements
• Large scale 2.6M oz of resource, 1.1M oz is free milling
• Resource Target of +3M oz
• Recent Zoro results indicate a larger UG resource >500,000oz
• Drilling results to come from Mulwarrie and Aphrodite
• Grades achieved at underground (Aphrodite) are high grades 5-6g/t Au, minimum production rate of 500,000 tonnes per annum.
• The Aphrodite resource is open at depth, may deliver critical scale for the development of a milling solution for sulphide ores in the district
• Underground ore is sulphide and refractory (Aphrodite only)- metallurgical recovery although test work using the Albion process has been successful
• Albion metallurgical process is cheaper than higher tech Pressure Oxidation (both capex and opex), ability to design optimal mill for the ore  
• Bardoc Gold’s EV/Oz of resource is cheap vs other gold development peers <$20oz 
• Acquisition or corporate transaction potential -  potential mill feed from open cuts < 20kms from Paddington able to be treated with standard CIP, Paddington mill has already treated Zoroatsrian open pit ore.
• Feasibility work on going for standalone development