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Pacgold Limited ( (AU:PGO) ) just unveiled an update.
Pacgold has achieved a key milestone in its strategic shift from explorer to producer with the first gold pour from its White Dam Gold Project in South Australia. The company’s maiden gold doré bar, weighing about 3 kilograms for an estimated 80 ounces of gold, was produced less than five months after acquiring the asset and following substantial refurbishment of the plant and mine facilities.
The bar has been shipped for refining and sale, marking Pacgold’s first operating cash flow and providing non-dilutive capital to support further growth initiatives at White Dam. Management indicated that ongoing production from re-crushed ore and the ramp-up of heap leach operations are expected to increase the frequency and size of future pours, reinforcing the company’s new status among listed gold producers and helping to de-risk the project for stakeholders.
More about Pacgold Limited
Pacgold Limited is an Australian gold company listed on the ASX that has historically focused on exploration activities. The company is now repositioning itself as a gold producer through the White Dam Gold Project in South Australia’s Olary Province, where it has refurbished and recommissioned an existing heap leach operation to generate near-term cash flow.
Average Trading Volume: 1,728,318
Technical Sentiment Signal: Buy
Current Market Cap: A$49.78M
For detailed information about PGO stock, go to TipRanks’ Stock Analysis page.