Global law firm Ashurst is advising Barton Gold Holdings Limited (BGD) on its pre-IPO restructuring and fundraising via convertible notes, and its IPO to raise up to A$15 million on ASX.
BGD is offering ordinary shares at $0.25 per share to raise a minimum of A$10 million and a maximum of A$15 million. The offer will close on Friday 11 June 2021, with BGD listing on 28 June 2021.
The company is exploring two gold projects in the Gawler Craton region of South Australia, including the historic Tarcoola project (Perseverance Mine), and the unmined Tunkillia project which is 70km N/NW of Tarcoola and has a JORC resource of 26.1Mt at 1.15g/t gold for 965,000oz. BGD also owns 100% of the region's only gold ore processing mill, the Challenger plant.
BGD will have a market capitalisation of A$43.9 million at listing (on maximum subscription).
Partner Murray Wheater commented:
"We are delighted to be advising Barton Gold Holdings on its A$15 million IPO to accelerate exploration of two large-scale, historically under-explored mineral systems. Capital raised from the IPO will go toward assessing the true scale and potential of what is South Australia's largest undeveloped gold project."
The Ashurst team was led by Murray Wheater who was assisted by partners Anita Cade and Andrew Gay, counsel Ethan Perry and Michael Voros, senior associates Fran Barber, Cheyne Hansen, Christopher Barry, Jacinta Pitos, lawyers Davy Hu, Kerry Liang, Chelsey Schroeter, Ferdous Bahar and trainee Joanna Ma.
