PC Gold raises $24M for Spring Hill Project

PC Gold (ASX:PC2) has raised approximately $24 million through a single-tranche placement to fast-track its Spring Hill Project.

The capital raising involved the issuance of 36.8 million new shares at $0.65 each, drawing strong interest from "Tier 1" institutional and high-net-worth investors.

The funds are earmarked for a definitive feasibility study and early site works, following a string of successful drilling results.

Executive Chair Ashley Pattison described the placement as a "great vote of confidence," noting that the surge in capital positions the company to reach a final development decision later this year.

At the time of reporting, PC Gold's share price was $0.72.