Barton Gold’s (ASX: BGD) aggressive South Australian gold development plans have received a boost, with Edison Investment Research revising its price target for Barton from $0.77 to $1.11 per share. This positive assessment follows advancements at the Tunkillia and Tarcoola gold projects, alongside the company’s gold mill. Edison analyst Lord Ashbourne highlighted Barton’s objective to produce between 125,000 and 150,000 ounces of gold per annum at Tunkillia via open-pit production.
Recent successes include the JORC mineral resource update to 1.6Moz of gold and 3.1Moz of silver, reverse circulation drilling campaigns targeting block model extensions, and the identification of material available energy savings. Drilling at Tarcoola led to the discovery of the new Tolmer gold system and additional pit floor gold mineralisation at the Perseverance mine, as well as a high-grade silver discovery alongside the Tolmer gold find. Barton’s gold mill is valued at $0.46/share on a replacement cost basis. The company completed $5 million in gold sales from its mill clean-out in June 2024.
