Geopacific Resources Gains Key Investment for Woodlark Project

Tip Ranks
2024.08.25 22:47
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Geopacific Resources Limited (AU:GPR) has secured a strategic investment of A$9 million from Lingbao Gold International Company Ltd to advance its Woodlark Gold Project in PNG. This investment follows a study indicating strong returns and an increase in resources at the site. Additionally, support from the Deutsche Balaton Group will strengthen Geopacific's financial position as they convert bonds to shares for project development.

Geopacific Resources Limited (AU:GPR) has released an update.

Geopacific Resources Limited secures a strategic investment from Lingbao Gold International Company Ltd, with a A$2.9 million share placement aimed at advancing the 1.67 Moz Woodlark Gold Project in PNG. The investment follows a recent study forecasting strong returns and a resource increase at the project. Concurrently, Geopacific has also received support from the Deutsche Balaton Group, which will convert bonds to shares, further bolstering the company’s financial position for project development.

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