Latest Papua New Guinea News

Voltaic Strategic Resources reports significant gold and poly-metallic mineralisation at its Kooline and Meekatharra projects, alongside a strategic board restructure and a robust cash position of $5.4 million.

Tolu Minerals reports significant progress in recommencing production and expanding resources at its Tolukuma mine, underpinned by strategic hires and advanced geophysical surveys.

Geopacific Resources has successfully raised $40 million through a renounceable entitlement offer to advance its 1.67 million ounce Woodlark Gold Project, with a major drilling campaign and updated feasibility study planned for 2025.

Kingston Resources delivered robust production and revenue growth at Mineral Hill in Q4 2024, while advancing a strategic review of its Misima Gold Project to unlock further value.

Lakes Blue Energy reported a $1.5 million quarterly operational spend and completed the $6.5 million sale of its 49% interest in PEP 169, while progressing drilling approvals for the Wombat-5 well in Victoria.

Canterbury Resources reports significant drilling success at its Briggs copper-molybdenum project, with an updated resource estimate and scoping study underway, while exploration at Bismarck yields no economic mineralisation.

St Barbara has secured A$100 million to fast-track its Simberi Sulphides project, aiming to bring forward production by up to five months, even as Q2 gold output fell short of expectations due to operational challenges.

St Barbara Limited has secured Warden Court hearing dates for early April 2025, marking a pivotal step in renewing its Simberi Mining Lease in Papua New Guinea with strong local stakeholder backing.

Mitchell Services reported a $46.7 million revenue and $5.6 million EBITDA in Q2 FY25, reflecting a strategic transition phase marked by increased mobilisation for new projects in PNG and decarbonisation drilling. Despite short-term softness, the company’s strengthened balance sheet and expanded service offerings position it for growth.

Monadelphous Group Limited signals a stronger-than-expected half-year profit, driven by improved operating margins and favourable non-operating items.

Voltaic Strategic Resources has acquired a 4.2% shareholding in Geopacific Resources, gaining strategic exposure to the Woodlark Gold Project in Papua New Guinea, a well-capitalised development with a 12-year mine life and significant exploration upside.

Geopacific Resources has successfully closed a fully subscribed A$40 million entitlement offer, positioning the company to advance its Woodlark Gold Project with a major drilling program and updated feasibility study.