Pacgold Limited: Strategic Expansion Toward Near Term Gold Production

Pacgold Limited (ASX: PGO), a Brisbane-based mineral exploration company, has agreed to acquire 100% of the White Dam Gold Operation in South Australia from GBM Resources. The project, which has produced approximately 180,000 ounces of gold since 2010, includes open pits, a heap leach pad, a camp, and a fully operational extraction plant. The acquisition provides Pacgold with immediate access to near-term production and cash flow potential through reprocessing existing heap leach material.

The deal, valued at AU$1.2 million in cash and 15 million shares, also includes a contingent AU$2.2 million payment upon reaching 5,000 ounces of gold output. Pacgold plans to fund the transaction and restart activities through a capital raise managed by Bell Potter and Taylor Collison. This acquisition complements Pacgold’s flagship Alice River and St George projects, positioning the company for accelerated growth across Queensland and South Australia

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