Pacgold Raises $7.8m for Alice River
- Gold explorer Pacgold (PGO) receives firm commitments to raise $7.8 million via a share placement
- More than 12.34 million shares will be issued to new and existing sophisticated and institutional investors at 63 cents
- The company also intends to undertake an entitlement offer to raise roughly $3.2 million with shares to be priced the same as the placement
- The company will use the money to speed up exploration and drilling activities at the Alice River gold project in north Queensland
- Shares in Pac gold were unchanged at 72 cents
