Geopacific Lines Up GR Engineering For Woodlark Contract

Geopacific Resources has issued a letter of intent to contract GR Engineering for engineering, procurement and construction (EPC) works at the Woodlark gold project in Papua New Guinea.

The EPC de-risks the largest component of the capital expenditure requirement, as it is expected to be a guaranteed maximum price (GMP) deal.

The Woodlark project is located on an island in the Milne Bay province of Papua New Guinea (PNG). It has one million ounces of gold reserves, with a grade for the first five years of over 1.5 grams a tonne gold