Geopacific Resources embarks on new capital raising initiative

Geopacific Resources (ASX:GPR) has unveiled a new capital raising strategy through a pro-rata renounceable entitlement offer. This initiative aims to generate approximately A$40 million to further the Woodlark Gold Project in Papua New Guinea. Key areas of focus include exploration, project expansion, and the execution of a Definitive Feasibility Study (DFS).

Geopacific Resources outlines strategic goals and future plans

Geopacific Resources has announced a capital raising initiative to secure approximately A$40 million, primarily through a pro-rata renounceable entitlement offer. This is structured as 1.69 new shares for every existing share, priced at A$0.02 per new share. The capital will be directed towards exploration and project growth at the Woodlark Gold Project in Papua New Guinea, with a significant portion allocated to a comprehensive exploration program and the development of a Definitive Feasibility Study by the end of 2025. Strategic investors, including Lingbao Gold, are involved, enhancing growth prospects. The company is focusing on sustainable practices, including community relocation and infrastructure improvements. With a favorable market position and supportive local government, Geopacific aims to harness the strong gold market to deliver promising financial returns from the project.

Executive insights on capital raising and project development

The funds raised will be pivotal in advancing our exploration and development activities at the Woodlark Gold Project. We are committed to leveraging existing investments and exploring untapped targets to maximize project potential. The involvement of strategic investors like Lingbao Gold demonstrates confidence in our project's prospects.