PLC.ASX: $1.8 Million Raised to Advance Gold Exploration

$1.8 Million Raised to Advance Gold Exploration

Stock	PREMIER1 Lithium Ltd (PLC.ASX)
Release Time	18 May 2026, 10 a.m.
Price Sensitive	Yes

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PLC Resources Raises $1.8M for Gold Exploration

Key Points

$1.8M raised at $0.008 per share through a placement of 225M new shares
Funds will be used for exploration at Yalgoo and Abbotts North projects
Placement shares expected to start trading on May 25, 2026

Full Summary

PLC Resources Limited (ASX:PLC) has announced the successful raising of $1.8 million through a placement of 225 million new fully paid ordinary shares at $0.008 per share. This capital will be allocated to the advancement of the company's two gold exploration projects in Western Australia: the Yalgoo Gold Project and the Abbotts North Gold Project. Post-placement, the company will have approximately $3 million in cash, with funds directed towards resource extension, geochemistry, geophysical surveys, and geological mapping. The placement shares are expected to commence trading on the ASX on Monday, 25 May 2026, subject to standard ASX conditions.

Guidance

PLC Resources plans to utilize $1.8M raised from the placement for exploration and working capital.

Outlook

PLC Resources is optimistic about the exploration potential of the Yalgoo and Abbotts North projects, aiming to leverage the raised capital for resource extension and new discovery opportunities.