A company controlled by billionaire prospector Mark Creasy has scooped up a 9.6% stake in gold-lithium explorer PGD for $2.25m.Creasy’s Yandal Investments has subscribed for 4.5m shares at 50c each, plus 1.8m options exercisable at 75c each before 2025. In January, Yandal paid $3m for a stake in Kalgoorlie gold explorer Zuleika Gold (ASX:ZAG). Cashed-up PGD now has ~$5.5m to accelerate exploration on its portfolio of gold and lithium projects, which has rapidly expanded since listing in March 2021. Field activities on PGD’s new lithium project adjacent to Pilbara Minerals’ (ASX: PLS) Pilgangoora operations, will also “commence as soon as possible”.
PGD Price at posting:
64.0¢ Sentiment: Buy Disclosure: Held
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