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Geopacific given more time to finish Woodlark gold project in Papua New Guinea

Geopacific Resources Ltd. obtained an extension to complete the construction and commissioning of the processing facility at its Woodlark gold project in Papua New Guinea.

The government gave Geopacific until July 5, 2022, to finish the project instead of January 2020 as previously outlined in the mining license. The extension is the final requirement Geopacific needs to start work, according to a Sept. 9 release.

In March, Geopacific announced its plan to consolidate ownership of Woodlark by acquiring Kula Gold Ltd.'s 15% stake for 150 million shares and A$700,000.