Pacgold Limited (ASX:PGO) Placement Announcement

Pacgold Limited (ASX:PGO) has successfully completed a $4.1 million placement to accelerate exploration at its 100% owned Alice River Gold Project in North Queensland. The placement received firm commitments for the funds, demonstrating strong support from existing shareholders and new investors. The company also plans to raise up to an additional $1.5 million through a Share Purchase Plan (SPP).

Executive Commentary on Placement Success

The support from existing and new shareholders for the Placement is a clear demonstration of support for the quality of the Alice River Project. With over 800 drill sites being prepared for the upcoming drill program, we are confident that there will be plenty of good news to report over the coming months.

Summary of Pacgold's Placement and Exploration Plans

Pacgold Limited (ASX:PGO) has successfully secured a $4.1 million placement to accelerate exploration at its 100% owned Alice River Gold Project in North Queensland. The funds raised will be used for regional geochemical and geophysical surveys, regional RC drilling programs, diamond drilling for resource definition, metallurgical studies, and camp expansion. Additionally, the company plans to raise up to an additional $1.5 million through a Share Purchase Plan (SPP). The successful placement and SPP will enable Pacgold to ramp up exploration activities and prepare for an extensive drill program, indicating confidence in the potential of the Alice River Project.