PC Gold (ASX:PC2) completed the AU$770,000 acquisition of the former Territory Iron camp near Pine Creek, securing a fully serviced workforce accommodation and operations base located near its Spring Hill Gold Project in the Northern Territory, according to an Australian bourse filing on Thursday after market hours.

The acquisition was funded with AU$475,000 in cash and AU$295,000 in shares, with 274,419 new shares issued to the vendor at AU$1.075 per share, per the filing.

The camp features 16 accommodation blocks with a total of 64 rooms, along with office and storage facilities and connections to mains power, water, and sewerage.

The company also plans to refurbish the facility in the second half and has also approved the issuance of 500,000 performance rights to employees under its incentive plan to align remuneration with company growth and key project milestones, the filing said.

The company said the acquisition is expected to shorten development timelines, lower development costs, and strengthen its exploration and project development efforts, the filing added.