PGO - Pacgold Limited

[System]

Pacgold Limited was incorporated on 25 September 2019 in Victoria as a gold exploration company with its key asset being the Alice River Project comprising a portfolio of eight mining leases and five exploration permits in the Alice River region of north Queensland. The Company has assembled a highly credentialed management team, led by Mr Tony Schreck, with the majority of funds raised to be put into the ground to fast track the exploration program. Early works have highlighted the potential of the grounds held.

The purpose of the IPO is to raise up to $6 million (before associated costs) by the issue of up to 24 million Shares at an issue price of $0.25 each.

The proceeds of the IPO will be utilised by the Company to fund exploration activities, corporate overheads and the costs of the IPO.

These exploration activities include over 4,000m of drilling, which is planned to commence within2 months of completion of the IPO. While gold has been intersected in historical regional scout drilling along the 30km-long Alice River shear zone, Pacgold’s initial focus with its drilling programs is on three priority targets covering 7km of the gold bearing shear zone:

• Central Target: Strong geophysical targets along strike from open pit mine and down-plunge extensions to high-grade gold mineralisation. First phase drilling of 2,000m RC + 200m DD is planned.
• Southern Target: Broad untested gold surface geochemical anomalies 1.7km x 200m in area. First phase drilling of 1,500m RC is planned.
• Northern Target: 2km-long interpreted vein system under shallow cover, not previously recognised. First phase drilling of 500m RC is planned.

It is anticipated that PGO will list on the ASX during July 2021.

Homepage

Pacgold Limited (ASX: PGO) is a gold exploration company focused on progressing its key asset, the Alice River Gold Project in North Queensland.

www.pacgold.com.au

 

[Stockbailx]

Can't get any charting action on this one, just yet. Eager and await for there listing proposed 8th July. They say the area they are conveying is overlooked and profitable by an investors prospective. Just have to wait and see...

 

[Dona Ferentes]

Listing date	08 July 2021 #
Company contact details	https://www.pacgold.com.au/ Ph: (03) 9817 7076
Principal Activities	Exploration and project development
GICS industry group	TBA
Issue Price	$0.25
Issue Type	Ordinary Fully Paid Shares
Security code	PGO
Capital to be Raised	$6,000,000
Expected offer close date	18 June 2021
Underwriter	Not underwritten. Taylor Collison Limited (Lead Manager)

 

[Stockbailx]

Highlights
Pacgold Limited (ASXGO) First mover in an overlooked prospective gold terrain – strong ground position (inc. granted mining leases) in an under explored region, Anglo Gold Ashanti now securing tenure close by.
Untapped upside for large gold discoveries through leveraging historical data and modern exploration models within a significant gold system.
Opportunity to invest in an energised, experienced team with track record of discovery through to development and production, with ‘skin in the game, ’Strong news flow - targeting advanced, near-surface, high-grade / high-value gold targets, with first phase drilling to commence within 2 months of completion of IPO2-year fully funded exploration / drilling programme following successful completion of IPO...

 

[Stockbailx]

PACGOLD COMMENCES TRADING ON ASX​ Pacgold Limited is an Australian gold exploration company, focused on progressing its key asset, the Alice River Gold Project in North Queensland Pacgold today commenced trading on the ASX with the code “PGO”, following a fully subscribed Initial Public Offer (IPO) which raised $6 million The IPO was supported by a strong mix of institutional investors, resource-focussed funds, sophisticated investors and retail investors Pacgold will use the funds raised from the IPO to progress an exploration and drilling program at the Alice River Gold Project, initially focusing on three priority targets covering 7km of the gold bearing shear zone Gold exploration company, Pacgold Limited (“PGO”, “Pacgold” or the “Company”), has commenced trading on the Australian Securities Exchange (ASX) following completion of a fully subscribed IPO which raised $6 million through the issue of 24,000,000 shares at an issue price of $0.25 per share. Pacgold is focused on progressing its key asset, the Alice River Gold Project in North Queensland. Alice River comprises a portfolio of eight mining leases and five exploration permits in a highly prospective gold terrain that has been historically underexplored. These mining leases and exploration permits include new compelling high-grade gold targets along a 30km corridor centred on a historical producing goldfield. Recent application of the latest IRGS exploration models and modern reprocessing of historical geophysical data has created new opportunities and targets at Alice River. Commenting on the successful listing, Pacgold Managing Director, Tony Schreck said: “The listing of Pacgold on the ASX today is a significant milestone for our management team, employees and shareholders. We are excited about progressing the Alice River Gold Project in North Queensland and commencing drilling in the short-term. “We wish to thank our team of advisers who have assisted us in achieving our successful ASX listing and our shareholders, for their continued support.” Figure 1. Location of Alice River Gold Project, Queenland​ The Company will use the funds raised from the IPO to progress an exploration and drilling programme at Alice River. The initial focus is on three priority targets covering 7km of the gold bearing shear zone: Central Target: Strong geophysical targets along strike from open pit mine and down-plunge extensions to high-grade gold mineralisation. First phase drilling of 2,000m RC + 200m DD is planned. Southern Target: Broad untested gold surface geochemical anomalies 1.7km x 200m in area. First phase drilling of 1,500m RC is planned. Northern Target: 2km-long interpreted vein system under shallow cover; not previously recognised. First phase drilling of 500m RC is planned. Pacgold’s Board of Directors consists of Non-Executive Chair Ms Cathy Moises, Managing Director Mr Tony Schreck, Non-Executive Director Mr Shane Goodwin and Non-Executive Director Mr Michael Pitt who together, have a strong track record in the mining industry from mineral discovery through to development and production and are well placed to ensure Pacgold delivers value to investors: Ms Moises has extensive knowledge and experience within the resource industry, having held senior roles for a number of the most prominent stock broking firms within Australia including McIntosh (now Merrill Lynch), County Securities (now Citigroup), Evans and Partners, where she was a partner, and most recently worked as Head of Research for Patersons Securities (now Cannacord Genuity). Mr Schreck is a geologist with 30 years’ experience in precious and base metal exploration, management, business development and discovery experience. He has co-founded and managed two junior exploration start-ups in the Solomon Islands and most recently in Queensland where he was the former Managing Director of Metal Bank Limited. For more information: Tony Schreck Managing Director tschreck@pacgold.com.au +61 (0) 419 683 196 Victoria Humphries Media & Investor Relations victoria@nwrcommunications.com.au +61 (0) 431 151 676

 

[Dona Ferentes]

Highlights
Pacgold Limited (ASXGO) First mover in an overlooked prospective gold terrain ...

terrane
/tɛˈreɪn/

noun
GEOLOGY

1. a fault-bounded area or region with a distinctive stratigraphy, structure, and geological history

 

[Stockbailx]

PacGold Appoint Exploration Manager Ahead of August Drilling;

EXPLORATION MANAGER APPOINTED AHEAD OF AUGUST DRILLING ​

Highly credentialed exploration geologist Geoff Lowe joins the Pacgold team as Exploration Manager

Detailed IP geophysical survey underway at Alice River

Newly listed gold explorer Pacgold Limited (ASX: PGO, “Pacgold” or the “Company”), is pleased to advise that it has significantly strengthened its team with the appointment of experienced geologist Geoff Lowe, who will manage exploration for the Company’s Alice River Gold Project, Queensland.

 

[Stockbailx]

Some Proposed good news from PacGold PGO. Could see then run into an good investment; Traveling at 23c...

Large-Scale Gold Targets Defined at the Alice River Gold Project ​

Multidiscipline exploration programme commences at Alice River

Indications of epithermal bonanza gold zone potentially preserved at depth within a gold system over >3.8km strike

Large-scale untested targets defined adjacent to known shallow high-grade gold mineralisation, through 3D modelling of new high-resolution IP geophysics

Rock Chip results up to 460g/t Au, 82g/t Ag in outcrop

Drilling to commence this week

Following its successful ASX listing in early July, Pacgold Limited (ASX: PGO) (‘Pacgold’ or the ‘Company’), is pleased to provide an update on its recently commenced exploration programme at the Alice River Gold Project in North Queensland, including a high-resolution IP geophysics survey, geological mapping and rock chip sampling.

 

[barney]

Following its successful ASX listing in early July, Pacgold Limited (ASX: PGO) (‘Pacgold’ or the ‘Company’), is pleased to provide an update on its recently commenced exploration programme at the Alice River Gold Project in North Queensland, including a high-resolution IP geophysics survey, geological mapping and rock chip sampling.

Yeah hopefully that can dig up something substantial early on @Stockybailz Its a tough gig for minnow goldies in general.

Tiny market cap ($7-8 million ?) and about 50 million SOI , so there is plenty of room to move if they find some Gold.

 

[Stockbailx]

Pacgold' are they in the market, after a short while of deliverance have found targets half way through there drilling process @ Alice River, North Queensland. This sounds rich in prospective of findings. More on the way;

Interesting Prospect!

 

[Stockbailx]

Now in the brought Market for Pacgold. As expected, further more gold intersected @ Alice River. Up 20% this morning, I suspect there is more to be intersected, as they appear to be on the money, with there re-opening of Alice River. Strong Hold...

 

[Sean K]

This is interesting. Don't go into a halt for any old drilling results.

 

[Sean K]

Ann out. A couple of good widths and grades, but nothing to warrant a 40% jump IMO. 158g/m gold is very good but you see over 200 g/m gold regularly and stocks can do very little. Maybe because gold has run overnight, perhaps. Maybe I don't understand the significance of this to the rest of the deposit. Perhaps the comment about this being the upper levels of a higher grade system is the key.

 

[finicky]

Tony Schreck eh? He was with Metal Bank (MBK) - managing director I think until he resigned. Obviously Tony Locantro (private investment manager and broker I follow on twitter) thinks he's a Geo worth a follow because he picked MBK a couple of years back and mentioned him and this year he has picked PGO in his list of 18 stocks that he bought for clients for 2022 performance.

 

[Stockbailx]

Now in the brought Market for Pacgold. As expected, further more gold intersected @ Alice River. Up 20% this morning, I suspect there is more to be intersected, as they appear to be on the money, with there re-opening of Alice River. Strong Hold...

Still a good reason to hold. Up 57% today, and rising, sitting pretty on my watchlist. On back of that announcement of expansion to high grade zone. A good investment if you got in on the action, say back in early November when, they first intersected gold at Alice River. one would expect further mineralisation to surface and the share price to surge yet again....

 

[finicky]

Perhaps the comment about this being the upper levels of a higher grade system is the key

That would be it

 

[Stockbailx]

Pacgold looking solid, getting into pulling up the mother load of strikes, holding the share price into a compounding high momentum. sitting well done, as they announce expansion to newly discovered high grade gold at Alice River.

A good idea considering, there money pot exceeds exploration and there got nothing to loose...Strong Hold...Bit of a money spinner for now...But how long can it exceed expectations...If there seeing the stuff their got dig it up...Prospective.

On the other hand sore a significant drop in share price today...Not shore what that all means or why it's happened. As I always say; the govs putting the pressure on and their running out of legs to stand on!

 

[Stockbailx]

Pacgold been trail blazing sideways with a 140% rise since being on my watch from 11th NOV 21 @0.3c now @0.72c. I've been talking in high regard for the stock since it opened its Alice River Campaign.
Recent Ann for a firm commitment to raise funds of 7.8 million to accelerate exploration at there Alice River Gold Project.
After reading Ann, it sounded like they haven't been drilling of late on there high grade F1a zone due to a lack of funds but this capital raise well see them well into 2023. And drilling exploration to commence around the 27th April 22...

https://pacgold.com.au/assets/files/PGO-Research-17_01_22.pdf

Pacgold Receives Firm Commitments for A$7.8M to Accelerate Exploration on the Alice River Gold Project​

Commitments of A$7.8M received for Placement to advance Alice River Gold Project

Placement strongly supported by new and existing sophisticated and institutional investors

A$3.2M Entitlement Offer on equivalent terms proposed for existing shareholder

Pacgold Limited (ASX: PGO; “Pacgold” or “the Company”) is pleased to announce the receipt of firm commitments to raise approximately A$7.8 million through a placement ("Placement") of fully paid ordinary shares ("Placement Shares") to advance the Alice River Gold Project.

The Company will issue 12,341,562 Placement Shares at A$0.63 per share to raise A$7.8 million (before costs). The Company will utilise its full placement capacity under ASX Listing Rules 7.1 and 7.1A to issue the Placement Shares. The Company is scheduled to settle the Placement on or about Wednesday, 27 April 2022.

Funds raised under the Placement will be used to accelerate exploration and drilling activities at the Alice River Gold Project, with focus on the high-grade F1a zone. The Placement and Entitlement Offer will see the Company well-funded into 2023, with 2 drill rigs on site and drilling ready to recommence.

 

[Telamelo]

Pacgold been trail blazing sideways with a 140% rise since being on my watch from 11th NOV 21 @0.3c now @0.72c. I've been talking in high regard for the stock since it opened its Alice River Campaign.
Recent Ann for a firm commitment to raise funds of 7.8 million to accelerate exploration at there Alice River Gold Project.
After reading Ann, it sounded like they haven't been drilling of late on there high grade F1a zone due to a lack of funds but this capital raise well see them well into 2023. And drilling exploration to commence around the 27th April 22...

https://pacgold.com.au/assets/files/PGO-Research-17_01_22.pdf

Pacgold Receives Firm Commitments for A$7.8M to Accelerate Exploration on the Alice River Gold Project​

Commitments of A$7.8M received for Placement to advance Alice River Gold Project

Placement strongly supported by new and existing sophisticated and institutional investors

A$3.2M Entitlement Offer on equivalent terms proposed for existing shareholder

Pacgold Limited (ASX: PGO; “Pacgold” or “the Company”) is pleased to announce the receipt of firm commitments to raise approximately A$7.8 million through a placement ("Placement") of fully paid ordinary shares ("Placement Shares") to advance the Alice River Gold Project.

The Company will issue 12,341,562 Placement Shares at A$0.63 per share to raise A$7.8 million (before costs). The Company will utilise its full placement capacity under ASX Listing Rules 7.1 and 7.1A to issue the Placement Shares. The Company is scheduled to settle the Placement on or about Wednesday, 27 April 2022.

Funds raised under the Placement will be used to accelerate exploration and drilling activities at the Alice River Gold Project, with focus on the high-grade F1a zone. The Placement and Entitlement Offer will see the Company well-funded into 2023, with 2 drill rigs on site and drilling ready to recommence.

Gees pity about those that bought in during recent sp spike to 0.80c being diluted like this with a cheap placement @ 0.63c (glad I sold out @ 0.79c).... expect sp to drift lower down towards 0.63c near term imo

 

[Stockbailx]

Gees pity about those that bought in during recent sp spike to 0.80c being diluted like this with a cheap placement @ 0.63c (glad I sold out @ 0.79c).... expect sp to drift lower down towards 0.63c near term imo

I only wish I could of got in @0.3c when it felt good. The sp actually retraced to a 52wk high of $1.05 but that was a late charge and there wasn't much to say for sp after a sudden drop in sp and its leveled out since then @ 0.72c. I must admit being a bit obsolete it may well be on a overlooked site @ Alice River, and there just buying votes from the share holders and it may fall to 0.63c as a level of support and dive further after fund raising. Time will tell?
But being optimistic my vote on them finding more gold and climbing, which is hard to sell, being the fact that there exploring a 2nd hand exploration;

We have been impressed by the speed at which Pacgold Ltd (PGO) team has been able to execute the drilling
campaign in 2021 and reaped the benefits of what has been a successful first pass exploration phase. The
review of the geophysical work (IP resistivity) has proven to be a successful methodology and the PGO team
are gaining invaluable knowledge with every drill hole completed. The grades intersected are well above
average and seem to be holding together for what could be an economic resource at the Alice River Gold
Project. There is still a lot of work to be done in order to define such a resource, but we remain confident that
there are more encouraging results to come soon (particularly with the observation of additional visual gold in
the samples with assays pending). We view Pacgold Ltd (PGO) as one of the more exciting Australian gold
exploration companies and continue to watch with great interest (and see further significant upside in the share
price in the immediate term) as results come to hand. We rate the stock as a Speculative Buy.