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Great Pacific Gold ( (TSE:GPAC) ) has issued an announcement.
Great Pacific Gold has upsized its previously announced public offering to raise up to $20.02 million through the sale of 42.6 million units at $0.47 each, with each unit comprising one share and half a warrant exercisable at $0.70 for 24 months. The financing, led by Haywood Securities and expected to close around April 2 subject to TSX Venture Exchange approval, will fund advancement of the company’s gold-copper projects in Papua New Guinea and bolster working capital, supporting its ambition to become a leading regional developer and potentially strengthening its competitive position in the PNG resource sector.
The offering will be conducted via a prospectus supplement to Great Pacific Gold’s Canadian base shelf prospectus, with distribution across most Canadian provinces and select international jurisdictions under applicable securities laws. By expanding the size of the raise, the company signals growing investor interest and secures additional capital to accelerate drilling and exploration activities, which may have implications for future resource delineation and project de-risking for shareholders.
The most recent analyst rating on (TSE:GPAC) stock is a Hold with a C$0.49 price target. To see the full list of analyst forecasts on Great Pacific Gold stock, see the TSE:GPAC Stock Forecast page.
Spark’s Take on GPAC Stock
According to Spark, TipRanks’ AI Analyst, GPAC is a Neutral.
The score is primarily constrained by weak financial performance (pre-revenue, widening losses, and worsening cash burn) despite a low-debt balance sheet. Technicals are mixed-to-weak with negative MACD and price below key short/mid-term averages, while valuation is difficult to justify on earnings due to ongoing losses and no dividend support.
To see Spark’s full report on GPAC stock, click here.
More about Great Pacific Gold
Great Pacific Gold is a Vancouver-based mineral exploration and development company focused on gold-copper projects in Papua New Guinea. Its flagship Wild Dog project in East New Britain targets a large-scale epithermal system and adjacent porphyry prospect, while the Kesar project in the Eastern Highlands is a greenfield gold-copper exploration play near K92 Mining’s producing operations.
Average Trading Volume: 258,385
Technical Sentiment Signal: Buy
Current Market Cap: C$78.08M
Find detailed analytics on GPAC stock on TipRanks’ Stock Analysis page.