Geopacific Resources has made major strides to push its Woodlark gold project on the Woodlark Island in Papua New Guinea (PNG) into production.
Civil works on the island have advanced significantly since mobilisation of equipment, personnel and supplies were initiated in December 2019.
Community support has been paramount to completion of the project, according to Geopacific, with over 100 locals working for the company or its contractors.
Geopacific aims to upskill locals with the aim of having an operating team ready for mining and processing activities at Woodlark.
The company is forecast to produce 2.4 million tonnes a year from Woodlark’s new processing plant.
“Meeting several critical milestones in a short time frame has proven to be a strong catalyst to advance discussions with potential debt providers,” Geopacific managing director Ron Heeks said.
“The success of the civil works campaign currently under way at the Woodlark gold project has Geopacific well placed to progress towards a project funding solution.
“The current work program continues to demonstrate the benefits of operating on Woodlark Island.”
Geopacific raised $40 million in equity for the project last year, which has assisted in making the advancements possible at Woodlark gold project.
The company has also relocated a small village from the mining lease to a new area where a modernised village will be built.
Geopacific signed on PNG-based project manager, Rhodes Projects to build the new village, which will provide lighting, health facilities and sufficient sanitation to the local people for the first time.
The company expects 200 buildings to be constructed for the village, including churches, stores, houses and schools.
Construction will be undertaken by Woodlark Island’s people who will be trained and supervised by Rhodes.