Geopacific Resources Unveils $40M Expansion Plan

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

Geopacific Resources Limited has announced a significant A$40 million entitlement offer to support the expansion of its Woodlark Gold Project, targeting a 1.67 million-ounce gold reserve. The funds will facilitate a comprehensive 30,000-meter drilling program and an updated feasibility study, aiming to boost resource growth and enhance project value. This move is backed by key investors, including Deutsche Balaton and Patronus Resources, highlighting strong market confidence in the project’s potential.

For further insights into AU:GPR stock, check out TipRanks’ Stock Analysis page.