Barton Gold Holdings Completes $4.25 Million Gold Sale

Barton Gold Holdings Limited (ASX:BGD) has confirmed the sale of around 1,400 ounces of gold produced from its December 2022 mill cleanout and preservation program. The provisional payment of USD $2.82 million (AUD $4.25 million) has been received, representing a 90% initial payment against current assays and an average 10-day gold price.

The company has engaged in a treatment and refining contract for its gold concentrate materials, involving 11 dry metric tonnes of concentrates. The final payment will be determined based on independent third-party assays, sampling, and average July gold prices. If the final payment exceeds the provisional amount, the buyer will compensate Barton the difference, and vice versa.

Barton's Managing Director Alex Scanlon emphasized the competitive terms achieved and highlighted the company's consistent track record of asset monetization, with efforts since its June 2021 IPO generating over A$10 million in non-dilutive cash.