Pacgold Secures AU$5.6 million to Accelerate Alice River Gold Exploration.

Pacgold Limited (ASX: PGO) has successfully secured firm commitments for a two-tranche AU$5.6 million placement to fund its exploration activities at the 100% owned Alice River Gold Project in North Queensland. The placement involves the issue of approximately 93.3 million new shares at AU$0.06 each, with Tranche 2 subject to shareholder approval. Participants will also receive one free attaching option for every two shares subscribed, exercisable at AU$0.10 until December 2027.

The funds will support an aggressive exploration campaign, including 12,000m of RC drilling, 3,000m of diamond drilling, and 5,000m of aircore drilling, along with geophysical and geochemical programs. The placement was strongly backed by institutional and sophisticated investors, with Euroz Hartleys, Bell Potter Securities, and SCP Resource Finance acting as Joint Lead Managers. Managing Director Matthew Boyes noted the capital raise marks a pivotal step in expanding the company’s footprint across the Alice River Project.

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