Pacgold Limited Announces AU$3.2M Placement for Exploration Acceleration

Pacgold Limited (ASX: PGO) has successfully secured firm commitments for an AU$ 3.2 million placement, involving the issuance of approximately 16.7 million new fully paid ordinary shares at AU$ 0.19 per share to institutional and sophisticated investors. Robust interest from both fresh and current institutional investors reaffirms their trust in the company.

The funds raised through this placement will be dedicated to expediting exploration activities at the Alice River Gold Project, situated 300km northwest of Cairns in North Queensland. The initial phase of drilling, scheduled to kick off in early October, will concentrate on high-priority IP geophysical targets across multiple prospects along the extensive 30km Alice River fault zone. This drilling program encompasses 2,500 meters of RC drilling and 1,500 meters of air core drilling.

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