PC Gold Ltd has secured firm commitments to raise A$75 million through a single-tranche institutional placement, funding an accelerated work program at the Spring Hill Gold Project in the Northern Territory.

The placement comprises issuing approximately 71.4 million new shares at A$1.05 each, utilizing existing placement capacity without requiring shareholder approval. Settlement is scheduled for 2 September 2026, with trading expected to commence on 3 September 2026.

The transaction provides PC Gold with a pro-forma cash balance of approximately A$96.7 million. Proceeds will fund an expanded 125,000-metre drilling campaign, underground infrastructure refurbishment, underground diamond drilling, and a Pine Creek camp refurbishment and Photon Assay laboratory.

Funds will also support Pre-Feasibility and Definitive Feasibility studies through to a Final Investment Decision. Spring Hill hosts an interim Mineral Resource Estimate of 43.6 million tonnes at 1.1 grams per tonne gold, containing 1.51 million ounces, reported on 21 July 2026. Metallurgical testwork in August 2026 demonstrated overall gold extractions from 90.2% to 99.4%.

Additionally, incoming Non-Executive Director Rick Clark and associates have committed to subscribe for A$2 million at the placement price, subject to shareholder approval.

“The strong demand received for the Placement from high-quality institutional investors in Australia and overseas is a clear endorsement of the scale and quality of Spring Hill. This funding ensures we are fully capitalised to deliver our 2026 and 2027 work programs, including an increased drill program of 125,000m, completion of the PFS and DFS studies and the refurbishment of underground infrastructure to facilitate high impact underground drilling program and unlock the high-grade underground opportunity.”

— Ashley Pattison, Executive Chair & CEO

Technical studies continue to advance alongside drilling. PC Gold has scheduled its Pre-Feasibility Study for late in the fourth quarter of 2026, followed by an updated Mineral Resource Estimate.

Read the full announcement: $75 Million Institutional Placement to Drive Spring Hill