InvestSMART

PC Gold Ltd (ASX:PC2)

ALERT: Price-sensitive ASX Announcement for PC2
Current share price for PC2 : $1.075 0.855 (388.64%)+
Announcement
Release
6 Nov 2025 8:17AM
Price at Release
$0.220
Full Release
download
Summary
PC Gold Ltd has entered into a strategic $1,000,000 Drill for Equity agreement with DDH1 to further its exploration efforts at the Spring Hill Gold Project in the Northern Territory. Under the terms of the agreement, 50% of the invoiced drilling services can be converted into equity, priced based on a 5-day volume-weighted average price, ensuring alignment with market conditions. This strategic partnership leverages DDH1's diamond drilling capabilities to support PC Gold's dual objectives of enhancing resource confidence and expanding the mineral inventory, while the drilling program is part of an extensive 34,000-meter campaign set to continue into 2026. The collaboration is a critical step in PC Gold's strategy to advance the Spring Hill project towards production, bolstered by its robust Mineral Resource Estimate.
Key Points
  • PC Gold Ltd announced a $1,000,000 Drill for Equity agreement with DDH1 for the Spring Hill Gold Project.
  • The agreement allows for 50% of each invoiced amount for drilling services to be taken as equity, valued at the 5-day VWAP prior to the invoice date, with a floor price of $0.25.
  • DDH1 will provide diamond drilling services at Spring Hill with two rigs currently on site.
  • The drilling program aims to upgrade resource classification and expand the mineral resource inventory at Spring Hill.
  • The agreement includes a voluntary escrow on issued shares for 6 months post-issue.
  • The drilling program is part of a larger 34,000-meter exploration campaign scheduled to last until March 2026.
  • PC Gold Ltd is focused on transitioning the Spring Hill Project towards production, with a reported Mineral Resource Estimate of 25.6Mt at 1.0g/t Au.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.