Announcement • Jun 22
Pacgold Limited Announces Board Changes Pacgold Limited reported that Ms Caoilin Chestnutt resigned as Non-Executive Chair, effective June 19, 2026, to focus on her other professional commitments. Following Ms Chestnutt's departure, the Board announced the appointment of Mr. Richard Hacker as Non-Executive Chairman. Mr. Hacker has served as a Non-Executive Director of the Company and his deep familiarity with Pacgold's operations and strategy positions him well to lead the Board in this capacity. Mr. Hacker has over 20 years of experience with Chalice Mining Limited (ASX: CHN), where he is currently a Non-Executive Director. He previously held senior executive roles at Chalice Mining including Chief Financial Officer and General Manager Commercial and Strategy. Beyond Chalice, Mr. Hacker has also held long term executive and director roles at other leading exploration and development companies, including Liontown Resources (ASX: LTR) and DevEx Resources (ASX: DEV), giving him a broad perspective across the resources sector. Mr. Hacker brings extensive expertise in mergers and acquisitions, corporate strategy, mining project assessment and execution, due diligence, and listed company administration. Recent Insider Transactions Derivative • Jun 11
Non-Executive Director exercised options to buy AU$120k worth of stock. On the 9th of June, Richard Hacker exercised options to buy 1m shares at a strike price of around AU$0.10, costing a total of AU$104k. This transaction amounted to 7.1% of their direct individual holding at the time of the trade. Since June 2025, Richard's direct individual holding has increased from 5.63m shares to 14.72m. Company insiders have collectively bought AU$458k more than they sold, via options and on-market transactions, in the last 12 months. New Risk • Apr 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 18% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$11m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Earnings have declined by 14% per year over the past 5 years. Shareholders have been substantially diluted in the past year (229% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$43.3m market cap, or US$30.5m). 
