PC Gold Ltd has received firm commitments for a A$75.0 million single-tranche institutional placement, issuing approximately 71.4 million new fully paid ordinary shares at A$1.05 per share.

The unconditional placement utilizes the company's existing capacity under ASX Listing Rules 7.1 and 7.1A, requiring no shareholder approval for the main issuance. Settlement is scheduled for 2 September 2026, with trading of the new shares expected to commence on 3 September 2026.

Proceeds from the capital raising will fund an expanded 125,000-metre drilling campaign, underground infrastructure refurbishment, and pre-feasibility and definitive feasibility studies at the Spring Hill Gold Project in the Northern Territory. Delivery of the Pre-Feasibility Study for a 3-million-tonne-per-annum carbon-in-leach processing plant at Spring Hill is targeted for late in the fourth quarter of calendar year 2026.

In addition to the institutional placement, incoming Non-Executive Director Mr. Rick Clark and associates have committed to invest A$2.0 million at the placement price, subject to shareholder approval. The company appointed Messrs. Richard P. (Rick) Clark and Matthew Scully as Non-Executive Directors in August 2026 to support its transition from explorer to developer as development work advances at Spring Hill.

“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 capitalized 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 a high impact underground drilling program and unlock the high-grade underground opportunity.”

“With the recent appointments of Messrs. Rick Clark and Matt Scully to the Board, we are focused on accelerating the development timetable for Spring Hill and delivering value for PC Gold shareholders.”

— Ashley Pattison, Executive Chair & CEO

The funding package positions PC Gold to advance its work programs through 2027 as it targets key project milestones across the Northern Territory gold operation.

Read the full announcement: PC Gold Announces Successful $75M Institutional Placement to Accelerate Spring Hill