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Pacgold Limited ( (AU:PGO) ) has provided an update.
Pacgold Limited has announced the acquisition of the White Dam Gold Operation in South Australia from GBM Resources Ltd. This strategic acquisition includes significant infrastructure and a JORC 2012 Resource, positioning Pacgold for near-term cash flow and potential expansion. The project is located near established mining services, enhancing its operational prospects. The acquisition involves a combination of cash payment, issuance of shares, and a contingent payment upon achieving certain production milestones. Pacgold is also undertaking a capital raise to fund the acquisition and restart the project, marking a transformational addition to its existing projects.
More about Pacgold Limited
Pacgold Limited is a company in the mining industry, focusing on gold and antimony exploration projects. The company is primarily involved in the acquisition and development of mineral resources, with a market focus on expanding its portfolio in highly prospective regions such as northeast Queensland.
Average Trading Volume: 755,069
Technical Sentiment Signal: Buy
Current Market Cap: A$21.28M
Find detailed analytics on PGO stock on TipRanks’ Stock Analysis page.