PC Gold Secures AU$75 Million to Fast-Track Spring Hill Development
Source: Kapitales Research
PC Gold Ltd (ASX: PC2) has secured firm commitments for a AU$75 million institutional placement, issuing approximately 71.4 million new shares at AU$1.05 each. The funding attracted strong interest from domestic and international institutions and is expected to lift the company’s pro-forma cash balance to around A$96.7 million.
The capital raise follows a major upgrade to the Spring Hill Gold Project’s Mineral Resource, which increased 84% to 1.51 million ounces of gold at 1.1 g/t. Proceeds will support approximately 125,000 metres of drilling, underground infrastructure refurbishment, feasibility studies and development work through to a potential Final Investment Decision.PC Gold also plans to refurbish the Pine Creek camp and establish a Photon Assay laboratory. Incoming director Rick Clark and his associates have separately committed AU$2 million at the placement price, subject to shareholder approval. The funding strengthens PC Gold’s ability to accelerate exploration, resource growth and development activities at Spring Hill.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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PC Gold Secures AU$75 Million to Fast-Track Spring Hill Development
PC Gold Ltd (ASX: PC2) has secured firm commitments for a AU$75 million institutional placement, issuing approximately 71.4 million new shares at AU$1.05 each. The funding attracted strong interest from domestic and international institutions and is expected to lift the company’s pro-forma cash balance to around A$96.7 million.
The capital raise follows a major upgrade to the Spring Hill Gold Project’s Mineral Resource, which increased 84% to 1.51 million ounces of gold at 1.1 g/t. Proceeds will support approximately 125,000 metres of drilling, underground infrastructure refurbishment, feasibility studies and development work through to a potential Final Investment Decision.PC Gold also plans to refurbish the Pine Creek camp and establish a Photon Assay laboratory. Incoming director Rick Clark and his associates have separately committed AU$2 million at the placement price, subject to shareholder approval. The funding strengthens PC Gold’s ability to accelerate exploration, resource growth and development activities at Spring Hill.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au