Dear Investors & Colleagues,
We are pleased to confirm that Barton premium placement toraise $3 million has completed (Placement).
The issue price of $0.70 per Share represents a ~4% premium to the Company’s last traded price, and a ~25% premium to the Company’s 1 month VWAP, before the Placement (as at market close on Thursday, 22 May 2025).
Accordingly, this Placement results in very modest equity dilution of only 1.93%, with a $0.70 price delivering a value accretive transaction for BGD shareholders. No brokerage, costs or fees have been incurred.
Drilling is now underway on its new high-grade Tolmer silver discovery, recently confirmed by Barton during March and April 2025, with priority focus on high-grade silver targets.
The success of this Placement is a strong endorsement of Barton’s low-dilution development strategy. Including this Placement, since our June 2021 IPO four years ago Barton has issued less than $13 million in new equity, while generating over $12m (net of costs) in additional non-dilutive funds through asset monetisation initiatives.
The result has been significant progress and value creation on all fronts with minimal shareholder dilution, reflecting our team’s strong alignment with, and focus on preservation of value for, our existing shareholders.
We are excited to be accelerating several value-add workstreams, including ‘Stage 1’ operations plans, Tunkillia long-lead Mining Lease and PFS programs including Reserve conversion drilling, and expedited drilling on our recent Tolmer high-grade gold and silver discoveries.
We look forward to sharing many more updates soon.A copy of this announcement can be found on the ASX platform and the Company's websitehere. Regards,
Alexander Scanlon
Managing Director & CEO |
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