Claim 50% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Pacgold Limited ( (AU:PGO) ) just unveiled an update.
Pacgold has completed the acquisition of 100% of the White Dam Gold Operation in South Australia and advanced key restart works, including relining and approval of the pregnant leach solution pond, aeration of existing heap leach ore, and commencement of a 25,000m reverse circulation drilling program to upgrade resources and de-risk the mine plan, supported by the appointment of an experienced project director. Concurrently, the company reported encouraging exploration results at its Alice River and St George projects, confirming extensions of gold mineralisation and high-grade antimony structures, while bolstering its balance sheet with $10 million in cash at quarter-end and a $13 million placement to fund the White Dam production restart and ongoing exploration, signalling a shift toward near-term cash flow and a stronger competitive position in the junior gold sector.
The most recent analyst rating on (AU:PGO) stock is a Hold with a A$0.16 price target. To see the full list of analyst forecasts on Pacgold Limited stock, see the AU:PGO Stock Forecast page.
More about Pacgold Limited
Pacgold Limited is an ASX-listed gold-focused explorer and developer with projects in South Australia and Queensland. The company is transitioning from pure exploration toward production, centred on the White Dam Gold Operation, while continuing to advance its Alice River gold project and the St George gold-antimony project through drilling and regional exploration.
Average Trading Volume: 3,284,319
Technical Sentiment Signal: Buy
Current Market Cap: A$66.03M
For an in-depth examination of PGO stock, go to TipRanks’ Overview page.