PC Gold (ASX:PC2) has executed a binding agreement to acquire the Territory Iron camp in Pine Creek, Northern Territory, a 30-minute drive from the company’s Spring Hill Gold Project.
The camp was purchased from a private landowner for $770,000 plus GST, with the payment comprising $475,000 in cash and $295,000 in fully paid ordinary shares in PC Gold, issued at a price of $1.35 per share.
The sale is expected to be completed in June 2026 following the satisfaction of all conditions precedent.
Purchased to provide accommodation and support infrastructure for PC Gold’s personnel and contractors, the camp houses 16 accommodation blocks, dedicated office facilities, storage infrastructure, and full connection to mains power, water, and sewage services.
The acquisition will save the company from having to construct a new accommodation facility, allowing it to focus on exploration, feasibility, and development activities.
Executive Chair Ashley Pattison says the camp provides a great base for the company’s Spring Hill activities.
“With full utility connections and existing infrastructure already in place, the facility enables PC Gold to mobilise rapidly while conserving capital for exploration and mine development activities,” Pattison says.
“Importantly, the acquisition provides immediate access to accommodation infrastructure in a region where suitable workforce housing is limited, while also providing flexibility for future expansion on the ample vacant land being acquired as the Spring Hill Project advances toward development.”
PC Gold is a gold exploration and development company focused on unlocking the full potential of the Spring Hill Gold Project in Australia’s Northern Territory.
Write to Amy Rotman at Mining.com.au
Images: PC Gold
