PC Gold is on track for its initial public offering (IPO) on the Australian Securities Exchange (ASX) in late August after clearing its minimum subscription threshold of $10 million.
The company says it is well-positioned to complete the full $15 million raise during this week’s marketing efforts at this week’s Diggers & Dealers Mining Forum in Kalgoorlie, Western Australia.
Mining.com.au is again attending the coveted annual event.
PC Gold is attending Diggers & Dealers to meet investors and build momentum ahead its ASX debut under ticker PC2.
RIVI Capital has now committed to convert US$3 million ($4.64 million) of deferred debt into equity agreement, which PC Gold notes underlines its conviction in the company’s growth potential.
“This strategic move will see them become our largest shareholder, independent of the $15 million being raised through the IPO. It’s a meaningful vote of confidence from one of our earliest believers,” the company says.
The company says operationally, “things are moving at pace” with the dry season in full swing in the Northern Territory.
PC Gold has drilled 5,000m of reverse circulation and diamond holes, part of a major 34,000m campaign scheduled over the next six months.
All drilling to date has been outside the current mineral resource estimate (MRE), giving the company strong early visibility into the potential scale uplift at Spring Hill.
Assay results from this phase are being held under embargo until after the IPO.
Images: PC Gold
