Woodlark gold project, Papua New Guinea
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Name of the Project
Woodlark gold project.
Location
Woodlark Island (Muyua Island), in Papua New Guinea.
Project Owner/s
Geopacific Resources.
Project Description
A July 2024 scoping study has proposed total gold production of 1.14-million ounces over a 12.1-year mine-life from low-strip openpit mining of more than 97% measured and indicated mineral resources.
Average gold production of about 95 000 oz/y will be delivered by a 2.9-million-tonne-a-year conventional carbon-in-leach processing facility at an average 90.1% gold recovery.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
Based on a A$2 900/oz gold price, the project has a pretax net present value, at an 8% discount rate, of A$625-million and an internal rate of return of 40.5%. Payback is estimated at 18 months from first production.
Capital Expenditure
Preproduction capital is estimated at A$326-million for mine development, gold plant and infrastructure engineering, procurement and construction management costs, first fills and critical spares.
Planned Start/End Date
Not stated.
Latest Developments
Exploration is being progressed to target extensions to known, high-grade, near-surface mineralisation with substantial resource growth potential.
Key Contracts, Suppliers and Consultants
None stated.
Contact Details for Project Information
Geopacific Resources, tel +61 8 6143 1820 or email info@geopacific.com.au.
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