Mining investor Pacific Road sells out of gold hopeful Geopacific
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Experienced private equity mining investor Pacific Road Capital has sold its 6 per cent shareholding in gold hopeful Geopacific Resources on market to a range of existing shareholders.
Pacific Road became a Geopacific (ASX:GPR) shareholder after accepting the company’s takeover offer for Kula Gold in 2017.
Geopacific remains on track to complete a feasibility study for its flagship 1 million ounce Woodlark gold project in Papua New Guinea by the end of September.
A major regional exploration campaign across Woodlark Island is underway to grow the mineral resource.
Geopacific has engaged Ironstone Capital to help with securing finance for the Woodlark project.
GeoPacific shares finished Thursday down 8 per cent to 2.4c. It shares have traded between 2.2c and 4.3c over the past year.