Barton Gold

Primary tickers: ASX:BGD, OTCQB:BGDFF, FRA:BGD3
Stage of development: Exploration, Development, Production
Primary mineral: Gold
Project to promote: Central Gawler Craton
Project location: Australia
Website: www.bartongold.com.au

Barton Gold is an ASX, OTCQB and Frankfurt listed Australian gold developer with ~1.6Moz Au JORC Mineral Resources, advanced exploration projects and brownfield mines, and 100% ownership of the only regional gold mill in the central Gawler Craton of South Australia.

Barton is well funded with a strong institutional shareholder register, and is growing its Tarcoola and Tunkillia Gold Projects toward the Company’s ambition to develop South Australia’s largest independent gold producer, targeting 150,000oz production. A recently published initial scoping study outlines a plan for Tunkillia to produce ~130,000ozpa at a competitive (Australian bottom tercile) AISC of A$1,917 / oz Au (~USD $1,250 / oz).

Barton’s Central Gawler Mill processed ore from its Tarcoola Gold Project during 2017 – 2018 with ~94% recoveries, providing a platform for early ‘Stage 1’ operations and toll milling options for multiple regional explorers.

Barton is already actively producing concentrates from mill recoveries and existing stockpiled ore, and has produced over $7m worth of gold to date, with asset monetisation initiatives generating over $10m in total non-dilutive cash (net of costs) since Barton’s 2021 IPO.

A recent 15 minute video presentation can be viewed here: https://www.youtube.com/watch?v=B-ATcW2ovkU

Cash: AUD$8.8M
Debt: NIL

Major shareholders
Gocta Group & Associates – 21.4%
Collins Street Asset Management – 12.9%
MERK ASA Gold Fund – 4.8%
NRW Holdings – 3.4%
Management Ownership – 22%

Financials

Management Profile

Alexander Scanlon – MD & CEO

Alex is the founder of Barton Gold and a financial economist with ~20 years’ experience in financial analysis, consulting, structured finance and mining advisory, investment and management. He was previously Managing Director of PARQ Capital Management and a Director with Lusona Capital where he focused on corporate advisory and principal investments in the natural resources sector, and before that an Executive in the Principal Investments Area of Barclays Capital.

Alex is a graduate of Santa Clara University (BSc Finance Honours & BSc Economics Honours), the University of Oxford (MSc Financial Economics) and the University of Cambridge (MPhil Management).

What is your rationale for taking part in 121 Mining Investment?

Barton Gold is rapidly expanding its projects with consistent, significant exploration and project development results. We are sharing our story internationally as we continue to execute large-scale exploration programs on our way to multiple additional JORC Mineral Resource updates anticipated for the end of 2024 and early 2025.

In parallel, Barton is advancing an optimised Scoping Study that will confirm Tunkillia as a large-scale, long-term competitive gold producer, and the confirmation of adequate higher-grade Resources in the vicinity of its Central Gawler Mill to commence ‘Stage 1’ operations.

What recent news would you like to highlight to investors attending?

22 Oct 2024 – Collins Street Value Fund increases position to 12.9% on market
16 Oct 2024 – Collins Street Value Fund increases position to 9.03% on market
01 Oct 2024 – High Grade Tarcoola Assays Confirm Additional Open Pit Gold
29 Aug 2024 – Collins Street Value Fund increases position to 8.03% on market
27 Aug 2024 – New Tolmer gold system discovered at Tarcoola Project
16 July 2024 – Tunkillia Scoping Study confirms competitive 130,000ozpa Au project
15 July 2024 – Barton allocated $1.49m in JMEI Tax Credits
03 July 2024 – 20,000oz Au added to Tarcoola open pit floor
18 June 2024 – $4.25 million gold sale
04 Mar 2024 – Tunkillia JORC Resources grow to 1.5 Million oz Au
01 Jun 2023 – Central Gawler Mill valued at $100m replacement cost

What are your key goals in 3 months, 6 months, 12 months?

3 Months:
Multiple drilling and geochemical programs for Resources growth, mine plan optimisation and generative exploration / discovery.

6 Months:
Optimised Scoping Study for the 1.5Moz Au (JORC) Tunkillia Gold Project.

12 Months:
Commencement of PFS for 150,000ozpa Tunkillia Gold Project

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

A recently soft market for gold equities and the gold sector presents challenges to attracting investor attention; however Barton Gold is very well capitalised and is drawing renewed attention with a consistent innovation and significant exploration outcomes.

What do you think makes your company such a compelling investment?

Barton Gold is unique among its ‘ exploration peers’ in several ways: (1) It is the only pure-play South Australian gold developer on the ASX; (2) Barton is actually an advanced asset manager with existing mines, properties and wholly-owned processing infrastructure which provides a low-cost / risk platform to commence operations, and (3) Barton has sources of income from monetising its assets which extends treasury, subsidizes exploration costs, and protects shareholders from additional equity dilution. Barton has generated more than $10 million in additional, non-dilutive cash from asset monetisation during the past 3 years, providing a significant level of protection from dilution for shareholders.

What are the top 3 key investor takeaways?

1) BGD has consolidated a proven historical gold district and is rapidly growing its projects;
2) BGD’s existing platform of 1.6Moz JORC (2012) Mineral Resources and its own gold mill are just the starting point – over 100km of major structures remain largely untested; and
3) BGD expects to announce optimised Scoping Studies and further JORC Resource updates during 2024 and 2025 to underpin both a potential ‘Stage 1’ operations restart (at Tarcoola, utilising our Central Gawler Mill) and the subsequent development of Tunkillia as a large-scale ‘Stage 2’ expansion co-funded by Stage 1 operations.