Response to Marmota Limited (ASX:MEU) Announcement
Adelaide, July 13, 2023 AEST (ABN Newswire) - Barton Gold Holdings Limited (ASX:BGD) notes the announcement published earlier today by Marmota Limited (ASX:MEU) (Marmota) making various claims in respect of the Western Gawler Craton Joint Venture (WGCJV) and noting its intention to issue proceedings against the Company and/or its wholly owned subsidiary, Challenger 2 Pty Ltd, in the Supreme Court of South Australia if its claims are not resolved by 3 August 2023.
As noted in the Company's 14 May 2021 initial public offering (IPO) prospectus (Prospectus), the WGCJV is subject to an ongoing dispute with a wholly owned subsidiary of Marmota.
In respect of this dispute, Marmota has previously made public claims which the Company considers to be false and misleading as evidenced by Company and Government records.
The Company has addressed these claims in its 31 March and 30 June 2022 Quarterly Activities Reports (QARs), and the ASX announcement dated 19 June 2023.
The issues raised by Marmota in today's announcement have been considered by the Company in the context of the WGCJV and addressed in extensive correspondence between Marmota and Barton.
Barton has obtained external legal advice and is of the view that Marmota's claims are without merit.
Barton considers that its minority WGCJV interest is immaterial to the Company's value and regional strategy, and that the status of this matter has not materially changed since Barton's last update.
About Barton Gold Holdings Limited
Barton Gold Holdings Limited (ASX:BGD) (FRA:BGD3) (OTCQB:BGDFF) is an ASX listed Australian gold exploration company with a total attributable ~1.1Moz Au JORC (2012) Mineral Resources endowment (28.74Mt @ 1.2 g/t Au), a pipeline of advanced exploration projects and brownfield mines, and 100% ownership of the only regional gold mill in the central Gawler Craton of South Australia.