Australia's PC Gold drops on discounted placement

PC Gold

09/02/2026 03:34

** PC Gold PC2.AX falls 2.1% to A$0.705, set for its worst day since Jan 30

** Mineral explorer receives firm commitments to raise A$24 million ($16.85 million) via placement

** Issue price of A$0.65 per share represents a discount of 9.7% to co's last close

** Funds raised will be used to accelerate the upgrade of the Spring Hill Mineral Resource, others

** 8.9 million shares change hands, 11.3x the 30-day average

** YTD, stock up 98.6%, including the day's move

($1 = 1.4245 Australian dollars)

 (Reporting by Shruti Agarwal and Sherin Sunny in Bengaluru)

 ((Sherin.Sunny@thomsonreuters.com))