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Big equity placement funds PNG gold project work

Woodlark mine developer Geopacific Resources has completed a A$40 million share placement to sophisticated investors, and will seek a further $5 million from shareholders under a share purchase plan as it prepares to start bring its 1.6 million ounce resource out of the ground and convert it to gold bars.

Haydn Black
A village will be moved to accommodate the new Woodlark gold mine in Papua New Guinea

A village will be moved to accommodate the new Woodlark gold mine in Papua New Guinea

The company will issue 1.6 billion shares at 2.5c, an 11% discount, and will offer the SPP on the same terms, before seeking approval for a 1-for-25 share consolidation.   The cash will help fund front-end...

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