Gold developer Geopacific Resources has completed a A$40-million capital raise, with a further A$5-million raising in its sights, to fund development activities at its Woodlark gold project, in Papua New Guinea.
The company has completed a A$40-million share placement to sophisticated and professional investors, placing 1.6-billion new shares at a price of 2.5c each. The offer price represented a 10.7% discount to Geopacific’s last closing price.