Pacgold Raises $3.2m for Alice River drilling
- Pacgold (PGO) raises $3.2 million from an entitlement offer to help fund exploration activities at its Alice River gold project in Queensland
- The money will add to the $7.8 million already raised from a placement and will allow the company to accelerate drilling on the F1a high-grade gold zone
- Eligible shareholders subscribed for 2.7 million new shares at 63 cents each, raising $1.3 million
- As the offer was fully underwritten, a shortfall of 2.4 million will be placed with underwriters to make up the difference
- Shares are trading 9.24 per cent higher today at 65 cents each
