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

Timestamps:
00:22 – Welcome and episode intro
00:46 – Barton Gold's five-year transition to a developer
01:54 – 15-year production and growth pathway
02:05 – Low-dilution funding model and asset monetisation
03:07 – The staged development approach and low-dilution strategy
04:44 – S1 starter pit results at Tunkillia and higher-grade zones
06:03 – Stage one grade profile and fast payback implications
07:18 – Upgrades to Measured/Indicated and reserve conversion plan
07:33 – Central Gawler mill DFS and staged operation plan
08:49 – Wudinna and Tolmer regional updates
11:25 – Tolmer high-grade discovery and metallurgy potential
13:37 – Regional integration: mills and throughput synergy
14:02 – Gold macro backdrop and financing considerations
17:01 – Financing roadmap and credit discussions
18:33 – What to expect in 2026/27
19:11 – Message to shareholders and closing remarks
19:19 – Thanks and sign-off

If you found this update helpful, hit like, subscribe for ongoing Barton Gold analysis and updates, and share your thoughts on the Tunkillia, Central Gawler, and Tolmer developments in the comments below.

⚠️ IMPORTANT DISCLAIMER: This content is for educational and entertainment purposes only and should not be considered financial advice. All investments carry risk, including the potential loss of principal. Past performance does not guarantee future results. Always conduct your own research and consider seeking advice from a qualified financial advisor before making investment decisions. The creator may hold positions in securities discussed.


📌 Articles:
https://smallcaps.com.au/barton-gold-franklin-templeton-led-placement-commences-spp
https://smallcaps.com.au/barton-gold-raise-advance-various-south-australian-work-programs
https://smallcaps.com.au/barton-gold-growth-continues-underpinned-ambitious-tunkillia-development-strategy
https://smallcaps.com.au/barton-gold-commences-definitive-feasibility-study-central-gawler-mill-restart
https://smallcaps.com.au/barton-gold-soil-sampling-confirms-extensions-tarcoola-mineralisation

🔎 More on this company:
https://smallcaps.com.au/stocks/asx-bgd/

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