PC Gold is on track for its initial public offering (IPO) on the Australian Securities Exchange (ASX) in late August, having surpassed its minimum subscription threshold of $10 million. The company is working towards completing the full $15 million raise during its marketing efforts at the Diggers & Dealers Mining Forum in Kalgoorlie, Western Australia.
PC Gold is attending Diggers & Dealers to engage with potential investors and build momentum ahead of its ASX debut under the ticker PC2. The company is focused on gold exploration and development in the Northern Territory. PC Gold aims to create shareholder value through the discovery and development of economically viable gold deposits.
RIVI Capital has committed to convert US$3 million ($4.64 million) of deferred debt into equity, signalling confidence in PC Gold’s growth potential. The company stated that this strategic move will make them PC Gold’s largest shareholder, independent of the $15 million raised through the IPO.
Operationally, PC Gold reports progress with 5,000 metres of reverse circulation and diamond drilling completed, as part of a larger 34,000-metre campaign planned over the next six months. All drilling to date has occurred outside the current mineral resource estimate (MRE) at Spring Hill, offering early insights into potential scale increases. Assay results from this phase are being held under embargo until after the IPO.
