Barton Gold (BGD) 2025 Precious Metals Summit - Zurich summary

Strategic focus and regional consolidation

• Advancing a hub-and-spoke model in South Australia's Central Gawler Craton, consolidating gold assets and leveraging the region’s only gold mill for strategic advantage.

• Targeting 150,000 ounces per annum gold production with scalable infrastructure and regional M&A opportunities.

• Recently acquired the Wudinna project, completing ownership of major historical gold assets and enhancing regional growth potential.

• High-grade gold and silver discoveries at Tunkillia and Tolmer, with ongoing upgrade drilling and resource expansion.

• Simple capital structure, strong institutional and board alignment, and recent AUD 15 million placement.

Operational and financial model

• Maintains high liquidity, consolidated share register, and over 54% of shares held by top 20 holders.

• Generates revenue through asset monetization, gold concentrate sales, and equipment rentals, covering all corporate overhead for three years.

• Market cap of $238m AUD, no debt, $20m cash, and enterprise value $236m AUD.

• Low-dilution track record, with over $12m cash generated internally since IPO.

• New inclusion in S&P ASX All Ordinaries Index as of September 2025.

Project development and growth plans

• Dual production strategy: Stage 1 focuses on restarting Central Gawler Mill, Stage 2 on developing the large-scale Tunkillia project.

• Stage one operation leverages existing mill, with phased reinstatement to minimize risk and cost (AUD 30 million estimate).

• Tunkillia project expanded to 1.6 million ounces gold and 3.1 million ounces silver, targeting 121,000 ounces gold and 259,000 ounces silver per annum over 8 years.

• Tunkillia’s starter pit expected to deliver 206,000 ounces gold and AUD 825 million cash in the first 13 months, with rapid payback.

• Wudinna and Tarcoola projects offer additional shallow, high-recovery resources and blending options for mill feed.