- Mineral exploration company Geopacific Resources (GPR) has entered a trading halt ahead of an upcoming capital raise
- So far, it is unknown how much the company is aiming to raise and where the money will be spent
- Company shares will be paused until Monday, December 14, or when more information about the raise is released to the market
- Geopacific is getting ready to develop the Woodlark Gold Project in Papua New Guinea
- Company shares last traded for 46.5 cents per share on December 10
Geopacific Resources (GPR) has entered a trading halt as it plans a capital raise.
Currently, it is unknown how much the company is aiming to raise and where the funds will be spent.
Due to the halt, trading in Geopacific will be paused until Monday, December 14, or when more details about the raise are released to the market.
Geopacific is a gold and copper development company with assets in the Asia-Pacific region. It is currently focussed on developing the Woodlark Gold Project in Papua New Guinea.
Last month, the company confirmed improved economics for Woodlark as it enters the next stage of development. Geopacific has developed a project execution plan and has prepared a project management schedule.
“The Woodlark Gold Project is now truly construction-ready, with permits in place, a preferred financier appointed and engineering and site pre-works well advanced,” CEO Tim Richards said.
On the market, Geopacific last traded for 46.5 cents per share on December 10.