Pacgold has poured its maiden gold doré bar from the White Dam heap-leach project in South Australia, marking a transition from explorer to producer.

The first doré pour comes five months after the acquisition, signaling the company’s move toward cash flow generation.

Refurbishment of the processing circuit is nearing completion, with one carbon-in-column unit to be installed and the leach pad expanded for the next growth phase, with designs due by the end of June.

The doré has been sent to the Perth Mint for refining and sale, providing initial cash flow and validating the restart.

White Dam brings a legacy production history and a current resource base, with 4.6 million tonnes at 0.7 g/t for 102,000 ounces, underpinning the restart strategy.

The initial 3-kilogram doré bar contains about 80 ounces of gold, produced from ore on the western edge of the heap via a refurbished plant.

Overall, White Dam is positioned as a near-term cash generator that could fund Queensland drilling and growth, supported by firm gold prices and low heap-leach costs.

Near-term upside includes a 50/50 toll-treating deal at Wadnaminga and near-mine shallow drilling to sustain plant feed and extend mine life.

Longer-term growth prospects lie in Queensland, with potential from the Alice River project and the St George system.

Pacgold plans to expand the leach pad and expects completion of design by June, followed by tendering for construction of the next growth phase.

Operational steps to maximize recovery included turning residual ore on the pad, earlier cyanide irrigation, and a re-crush program to improve permeability of legacy heaps, with throughput targeted at 90,000 tonnes per month.

An aggressive exploration program at Vertigo targets shallow mineralisation to refresh the resource model and support a 2027 full-scale production plan.