Geopacific rebranding as developer

GEOPACIFIC Resources could be starting construction on a 100,000 ounce per annum mine as soon as late 2018.

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Geopacific MD Ron Heeks flies drone with the Woodlark community

The company released the prefeasibility study for the Woodlark Island gold project in Papua New Guinea in March.

"We're probably in the next line of producers," Geopacific managing director Ron Heeks told the ResourceStocks 2018 conference in Sydney today.

Heeks said moving towards development was a real selling point for the company going forward.

"Four weeks ago, most people thought we were an explorer rather than a developer," he said.

The PFS highlighted capital costs of A$180 million for a 10-year operation producing 100,000ozpa at all-in sustaining costs of $1110 per ounce.

On those metrics, the project has an internal rate of return of 33% and a payback period of 2.2 years.

Geopacific is now seven weeks into a definitive feasibil...