Geopacific Resources’ Share Price Recovers after a 10% Crash

Over the past week, shares of Geopacific Resources Ltd [ASX:GPR] were met with strong turbulence. Trading at 25 cents on Thursday 30 August, then souring to 30 cents by Monday 3 September — an increase of almost 50%, before it plummeted by 10.71% at Yesterday’s close, Tuesday 4 September.

Shares of Geopacific Resources are trading at 26 cents at time of writing, up 4%.

The gold-copper development company based in Australia has assets in the Asia-Pacific region.

New high grade gold could help Geopacific Resources’ share price

An update of Geopacific’s ongoing regional geochemical soil sampling program at the woodlark gold project revealed several new high-grade gold anomalies.

The company is undertaking a thorough soil sampling in conjunction with rock chip sampling.

The woodlark project includes both the Watou and Talpos prospect, which found rock chip values up tp 48.41t and soil gold values up to 3.36t at Tapos, respectively.

The update demonstrates the immediate and growing potential of Woodlark Island. As well as this, it may also play a key role in a turnaround for Geopacific’s future share price.

Managing director of Geopacific Resources commented on the finding:

Soil sampling continues to produce impressive results, highlight the potential of a much larger mineral field. Interestingly some of the new anomalies are directly along strike from known areas of mineralisation or actual planned open pits. This demonstrates the immediate potential to increase resources along strike from current areas as well as identifying new zones. We look forward to drilling these new zones when the soil campaign is complete and the drill targets are prioritised.

Read this BEFORE you buy gold: Why one resource expert believes the gold price could be headed lower in 2018. Click here.

Geopacific Resources upcoming news

In other news Geopacific Resources has progressed to the third earn-in period of its farm-in agreement.

Under this agreement, GPR will be issued shares in Woodlark Mining Limited effective immediately, increasing its shares to 51%. Along with this, Matthew Smith will be appointed as director of Woodlark Mining’s board.

All this could bring some positive increases to Geopacific Resources’ share price in the near future. But investors will likely have to be patient in order to see any substantial movements.


Ryan Clarkson-Ledward,
For Markets & Money

PS: If you’re thinking now is the time to jump back into gold investments…you could be making a huge financial blunder! Find out why, in resource expert Jason Stevenson’s free report, ‘Why You Should Wait to Buy Gold Stocks’. Download your copy today.

Ryan Clarkson-Ledward is a junior analyst for Markets & Money. Ryan has degrees in both communication and international business. His priority is bringing you the latest price updates on stocks through ASX updates, as well as supporting Sam Volkering with background research. As part of the team at Markets & Money his aim is to provide unbiased and relevant news for readers. Ryan’s work with Sam is designed to provide research that complements Sam’s analysis for small-cap and technology stocks. Together, their objective is to break through all the jargon and give you the hard facts to inform your investment decision-making. Ryan writes for:

Leave a Reply

Your email address will not be published. Required fields are marked *

Markets & Money