# PC Gold Spring Hill Project development

> Live situation record from CLSTR: https://clstr.news/situations/pc-gold-spring-hill-project-development
> Updated: 2026-08-27T01:46:17.000Z. Sources: 3. Developments: 2.

PC Gold has reported positive metallurgical testwork results for its Spring Hill Gold Project in Australia’s Northern Territory. Testing on various mineralisation domains showed gold extraction rates as high as 99.4%. Executive Chair Ashley Pattison noted that weathered material may process at a coarser grind size than expected, which could potentially “lower power requirements, reduce processing costs, and support higher plant throughput.”

Following these technical results, PC Gold announced a $75 million institutional placement to fund the project. The capital is intended for drilling programs, infrastructure refurbishment, and the completion of Prefeasibility and Definitive Feasibility Studies.

## Claims

- Pengana Capital Group Limited has announced an on-market share buy-back of its ordinary fully paid shares. (corroborated by 2 sources)
- The proposed buy-back encompasses a maximum of 9,783,561 ordinary fully paid securities. (corroborated by 2 sources)
- The buy-back program is scheduled to run from September 14, 2026, to September 14, 2027. (corroborated by 2 sources)
- PC Gold is raising $75 million through a single tranche institutional placement. (single source)
- The company will issue 71.4 million shares at an offer price of $1.05 per share. (single source)
- Richard Clark and associates have committed to invest $2 million into this placement. (single source)
- Proceeds will be used to fund drilling programs at the Spring Hill Project in the Northern Territory. (single source)

## Timeline

### 2026-08-27: PC Gold raises $75M for Spring Hill; Pengana Capital announces share buy-back

PC Gold is raising $75 million for its Spring Hill Project drilling programs, while Pengana Capital Group has announced a 10% on-market share buy-back program starting in September 2026.

3 sources. https://clstr.news/cluster/pc-gold-raises-75m-for-spring-hill-pengana-capital-announces-share-buy-back

### 2026-08-18: PC Gold reports up to 99.4% gold extraction at Spring Hill Project

PC Gold reported gold extraction rates of up to 99.4% at its Spring Hill Gold Project, with results suggesting coarser grind sizes could reduce processing costs and increase throughput.

2 sources. https://clstr.news/cluster/pc-gold-reports-up-to-994-gold-extraction-at-spring-hill-project

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Cite as: PC Gold Spring Hill Project development. CLSTR, https://clstr.news/situations/pc-gold-spring-hill-project-development