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PC Gold Ltd ASX:PC2

0 opened or increased2 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 2 managers in total.

Position history by manager 2 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

7 Jan 2026 to today

Commentary 2 comments

DateManagerActionSummary

30 Apr 2026SG Hiscock & CompanyHeldSG Hiscock & Company continues to hold PC Gold Ltd because the company benefited from continued strength in the gold sector and growing investor anticipation around an expected upgrade to the company's mineral resource estimate, supported by ongoing drilling success and improving sentiment toward advanced gold development projects.

Monthly Report, price recorded $1.25

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7 Jan 2026Perennial PartnersHeldThe fund manager continues to hold PC Gold because the company appears to be a strong candidate to do well in 2026, with a 821,000 ounce gold resource located two hours south of Darwin, mineralised from surface, with low stripping ratio. They note a looming resource upgrade is expected on the back of work released on December 1, suggesting historical assay methodology has underestimated the grade. The manager believes the project looks too cheap for what appears to be an economically viable gold project, particularly given the gold sector's tendency to re-rate quickly when stocks are deemed mis-priced.

Gold ExplorationArticle, price recorded $0.38

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First mention by manager

Price recorded at each manager's first comment

Price at first mentionThe share price recorded when each of 2 managers first commented on PC2.

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About PC Gold Ltd

Materials, Metals and Mining

PC Gold (ASX:PC2), a gold developer in the Northern Territory, has rallied with the gold sector. In April 2026, SG Hiscock reported PC Gold benefited from continued strength in the gold sector and growing investor anticipation around an expected upgrade to its mineral resource estimate. In January 2026, Perennial noted that gold stocks can re-rate quickly once the market decides something is mispriced, suggesting PC Gold could benefit. PC Gold operates in the Materials sector within the Metals and Mining industry, and Thesis Tracker has captured 2 comments from 2 fund managers, SG Hiscock and Perennial. Founded by Ashley Pattison in 2015 and headquartered in Peppermint Grove, Perth, PC Gold is developing the Spring Hill gold project near Darwin in the Northern Territory, targeting near-term production from open-pit deposits, and is progressing scoping studies, permitting and resource growth to support a development decision, positioning it as a potential new gold producer in the region.

Market cap: $218m
Price to earnings: Loss-making
Return on equity: -10.8%
Dividend yield: 0.0%
Price to book: 10.40x
52-week range: $0.21 to $1.52

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in PC Gold Ltd (ASX:PC2)?

Fund managers including Perennial Partners have invested in PC Gold Ltd (ASX:PC2).

What opportunities or catalysts do fund managers highlight for PC Gold Ltd?

SG Hiscock and Perennial highlight an expected resource upgrade at Spring Hill and the potential for a rapid re-rating as PC Gold moves toward production.

What are the key risks to the PC Gold Ltd investment thesis, according to fund managers?

The available commentary does not set out specific risks, though PC Gold must define resources, secure approvals and fund development.

What does PC Gold Ltd (ASX:PC2) do?

PC Gold Ltd. is an Australian gold exploration and development company headquartered in Peppermint Grove. Founded by Ashley Pattison on December 12, 2015, the firm focuses on the Spring Hill Project. PC Gold Ltd. aims to deliver shareholder value through the discovery and development of mineral deposits. The company employs systematic exploration techniques, including geochemical and geophysical surveys, field mapping, and drilling programs, to advance its primary project. As an active gold explorer, PC Gold Ltd. prioritizes technical discovery strategies to identify and develop economic mineral resources within Australia.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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