PC Gold Secures Pine Creek Camp to Accelerate Spring Hill Development

Ready-Made Accommodation Boosts Spring Hill Project

PC Gold (ASX:PC2) has completed the acquisition of the former Territory Iron accommodation camp in Pine Creek, Northern Territory, just 30 minutes from its Spring Hill Gold Project. The deal, valued at A$770,000 plus GST and paid partly in cash and partly in shares, brings 16 accommodation blocks with 64 rooms, office space, storage facilities, and full mains power, water, and sewerage connections.

This ready infrastructure offers a significant shortcut compared to building new facilities from scratch, promising to slash both time and capital outlays as PC Gold advances its mining ambitions at Spring Hill. The company plans to refurbish the camp in the latter half of 2026 to meet industry safety and operational standards, providing immediate operational capacity for personnel and contractors.

Strategic Value and Community Impact

Executive Chair Ashley Pattison highlighted the acquisition’s strategic merit, noting it offers a cost-effective base with ample room for future expansion as the project progresses. With workforce accommodation scarce in the region, this move not only supports PC Gold’s operational needs but is also expected to deliver economic benefits to the broader Pine Creek community.

The camp’s existing infrastructure, offices, storage, and utilities, enables rapid mobilisation, allowing PC Gold to conserve capital for exploration and mine development. This acquisition dovetails with the company’s broader strategy to accelerate Spring Hill’s transition from exploration to production.

Employee Incentives Aligned with Milestones

Alongside the camp purchase, PC Gold announced the issue of 500,000 new performance rights to employees under its Employee Securities Incentive Plan. These rights are tied to critical project milestones: achieving a share price VWAP of $1.75 over 60 consecutive trading days, reaching a 2.5 million ounce Mineral Resource Estimate at Spring Hill, and completing a feasibility study with a net present value exceeding $1 billion and an internal rate of return above 20%.

The performance rights aim to align employee interests with shareholder value creation, incentivising delivery on resource growth, feasibility, and ultimately gold production. The rights will vest upon milestone achievement and can be equity or cash settled, subject to standard conditions including expiry after four years.

Spring Hill’s Growing Resource Base

The Spring Hill Gold Project itself boasts a substantial Mineral Resource Estimate of 25.6 million tonnes at 1.0 g/t gold for 821,000 ounces, classified as Indicated and Inferred under the JORC Code. PC Gold is advancing the project through infill drilling to upgrade resource confidence and aggressive exploration to expand the resource inventory. Mining leases are granted and environmental approvals secured, positioning the project for a streamlined path to production.

PC Gold’s recent exploration success, including high-grade intercepts and strategic tenement acquisitions, underpins the company’s confidence in scaling the project. The camp acquisition and employee incentives form part of a coordinated effort to accelerate development while managing capital efficiently.