Share Placement done for the development of Woodlark Gold Project in Papua New Guinea

GEOPACIFIC Resources has completed a A$40 million (K93.2mil) share placement to fund development of the Woodlark gold project in Papua New Guinea.

Additionally, Geopacific has also offered eligible Australian and New Zealand shareholders a share purchase plan, which will deliver a further A$5 million (K11.68mil).
The Australian Mining reported on Monday that the placement was made to sophisticated and professional investors for 1.6 billion fully paid ordinary shares at A$0.025 (PGK 0.58) per share, representing a 10.7 per cent discount to the last close.
The share purchase plan will be offered at A$0.025 per share, allowing shareholders to acquire up to A$30,000 (K70,000) of new shares. 

The National

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