Approximately 1,400 ounces gold have been sold via a treatment and refining contract for the Company's gold concentrate materials, the general terms of which include the following: 11 dry metric tonnes of concentrates (+/- 10%); Market competitive treatment ( TC ) and refining charges ( RC ) and Au / Ag payability (Payability); 90% initial payment against current assays, average 10 day gold price (Provisional Payment); independent third party weighing, sampling and moisture determination (WSMD); independent third party sampling and assay of all concentrate materials (Assays); final payment based upon WSMD, Assays, and average July gold price (Final Payment) and other terms and conditions standard for a gold refining and sale contract of this type.
The USD
The Final Payment will be a 'balancing payment' based upon final WSMD, Assays, Payability and other cost factor calculations, and average
Barton notes that the weights and assays on which the Provisional Payment are based are indicative only and final recoveries may vary significantly based upon metallurgical and other factors. The materials are highly variable in nature and these figures are not a forecast of final gold recoveries or sale proceeds.
Commenting on Barton's gold sale, Barton Managing Director
'This is also an excellent result for our shareholders. Barton continues to differentiate itself not only via the cost-efficient advancement of its development projects, but also a growing track record of asset monetisation. Since our
Contact:
Managing Director
Tel: +61 425 226 649
Email: a.scanlon@bartongold.com.au
About
Competent Persons Statement & Previously Reported Information
The information in this announcement that relates to the historic Exploration Results and Mineral Resources as listed in the table below is based on, and fairly represents, information and supporting documentation prepared by the Competent Person whose name appears in the same row, who is an employee of or independent consultant to the Company and is a Member or Fellow of the
The information relating to historic Exploration Results and Mineral Resources in this announcement is extracted from the Company's Prospectus dated
Cautionary Statement Regarding Forward-Looking Information
This document may contain forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as 'seek', 'anticipate', 'believe', 'plan', 'expect', 'target' and 'intend' and statements than an event or result 'may', 'will', 'should', 'would', 'could', or 'might' occur or be achieved and other similar expressions. Forward-looking information is subject to business, legal and economic risks and uncertainties and other factors that could cause actual results to differ materially from those contained in forward-looking statements. Such factors include, among other things, risks relating to property interests, the global economic climate, commodity prices, sovereign and legal risks, and environmental risks. Forward-looking statements are based upon estimates and opinions at the date the statements are made. Barton undertakes no obligation to update these forward-looking statements for events or circumstances that occur subsequent to such dates or to update or keep current any of the information contained herein. Any estimates or projections as to events that may occur in the future (including projections of revenue, expense, net income and performance) are based upon the best judgment of Barton from information available as of the date of this document. There is no guarantee that any of these estimates or projections will be achieved. Actual results will vary from the projections and such variations may be material. Nothing contained herein is, or shall be relied upon as, a promise or representation as to the past or future. Any reliance placed by the reader on this document, or on any forward-looking statement contained in or referred to in this document will be solely at the readers own risk, and readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty thereof.
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