In this ASX small-cap update, James Whelan sits down with Barton Gold CEO Alexander Scanlon to unpack progress and milestones as Barton transitions from explorer to developer. Barton has consolidated the Central Gawler Craton gold assets in SA and built a 2.2 million ounce resource anchored by Tunkillia, plus a 300,000 ounce starter asset designed for early cash flow. The company is pursuing a regional development pathway that uses two fully permitted mills to maximise value while keeping dilution low through asset monetisation rather than equity issuance. The video digs into the S1 starter pit at Tunkillia, the central grade profile, and how the latest assays inform a fast payback and financing story.
What we cover:
- 15-year production and growth pathway aligned to a large-scale producer
- The S1 starter pit results (1.19 g/t average grade, with higher-grade intersections up to 2–3.5 g/t and occasional peaks of 20–40 g/t)
- The first-year cash flow outlook (the project is modelled to generate over $800 million in operating free cash flow in year one)
- Upgrading the Tunkillia resource to Measured and Indicated, and the timeline for the JORC upgrade and reserve conversion
- Central Gawler mill refurbishment and the two-phase DFS (tailings-first then blend with fresh ore), plus the path to production in 2026–27
- Regional play: Wudinna and Tolmer, including a high-grade silver discovery and tolling/processing potential to feed the mills
- Macro backdrop for gold: de-dollarisation, inflation, and why a long gold cycle supports this strategy
- The financing roadmap and how Barton plans to balance internal capital generation with external finance
Ticker: BGD.ASX