Barton Gold Completes $15m Franklin Templeton-Led Placement, Commences SPP

Barton Gold (ASX: BGD) (OTCQB: BGDFF) has received significant international funding support for its aggressive South Australia mine development plans.

The company has now finalised its placement led by American investment management company Franklin Templeton, in which Barton has raised $15 million for commissioning of ‘Stage 1’ production at its Gawler Craton gold operations.

Franklin Templeton’s participation has seen it acquire an initial interest of approximately 3.8% in Barton’s expanded equity capital structure.

Broad US Fund Support

The capital raising also attracted support from New York-headquartered investment firm Donald Smith Value Fund, along with a number of other new institutional investors.

With the placement successfully put away, Barton has now opened a non-underwritten share purchase plan (SPP) targeting $2.5m in additional funding, allowing existing shareholders to acquire shares at the same price as the placement offer.

“This placement further strengthens our already high-quality share register and is a further endorsement of Barton’s strategic regional platform and strategy,” managing director Alexander Scanlon said.

“We have an exciting journey ahead in South Australia as we lead the re-establishment of the Gawler Craton’s gold district.”

Twin Gold Strategy

The additional funding will support a range of initiatives as Barton progresses its Tunkillia and Tarcoola gold developments, including a definitive feasibility study of its Central Gawler Mill.

The company has already achieved significant growth, and expects reserve conversion upgrade drilling at Tunkillia and upgrades at the Challenger underground mine adjacent to the mill to increase its gold resource above 300,000oz, including a sizeable contribution from existing open-pit and underground developments.

Barton’s expansion strategy includes upgrade drilling at Tunkillia’s starter pits, with a higher-grade central zone modelled to produce more than 360,000oz gold, nearly 1Moz silver, and some $1.3 billion in operating profits during the first 2.5 years alone

The company is also targeting completion of a mine development pre-feasibility study and the submission of a mining lease application at Tunkillia sometime during 2026.