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Geopacific Resources Limited ( (AU:GPR) ) has issued an announcement.
St Barbara Ltd, a PNG gold producer, is set to acquire a 14.4% stake in Geopacific Resources Ltd by exchanging its shares in Patronus Resources Ltd. This strategic move aligns St Barbara with Geopacific’s development of the Woodlark Gold Project, enhancing Geopacific’s strategic profile as it progresses towards development. The transaction, which requires Patronus shareholder approval, will see St Barbara become a substantial shareholder in Geopacific, while Patronus will retain a smaller interest.
More about Geopacific Resources Limited
Geopacific Resources Limited is a company operating in the mining industry, primarily focused on gold exploration and development. The company is advancing its 100% owned Woodlark Gold Project in Papua New Guinea, which hosts a significant mineral resource.
Average Trading Volume: 470,026
Technical Sentiment Signal: Strong Sell
Current Market Cap: A$54.1M
See more data about GPR stock on TipRanks’ Stock Analysis page.