Geopacific Resources (ASX: GPR) is progressing its Woodlark Gold Project in Papua New Guinea towards development, following the completion of a Definitive Feasibility Study (DFS) in May 2026. Presenting at ShareCafe’s Uncovering Hidden Gems investor webinar, Managing Director Hamish Bohannan outlined plans for a 12-year open-pit gold operation targeting average annual production of approximately 100,000 ounces. The project has a Mineral Resource of 1.98 million ounces and an Ore Reserve of 1.2 million ounces, with established mining and environmental approvals supporting its development pathway.
The DFS forecasts a post-tax net present value (NPV8%) of A$1.3 billion, an internal rate of return of 50.6% and a payback period of approximately 18 months from first production, based on a gold price of A$5,500 per ounce. Pre-production capital is estimated at A$535 million, with life-of-mine all-in sustaining costs forecast at A$1,966 per ounce. Bohannan highlighted the project’s conventional mining and processing methods, high-confidence resource base and potential to generate substantial free cash flow, while noting that higher gold prices could further improve project returns.
Geopacific is now focused on securing project financing and progressing towards a final investment decision, with construction targeted to begin in early 2027 and first production anticipated in 2029. The company is also advancing community infrastructure and relocation works on Woodlark Island, alongside plans for further exploration across its extensive landholding. Bohannan said the project’s existing deposits remain open, with opportunities to expand resources, extend mine life and investigate additional gold and copper-gold targets.
Watch the full presentation above to learn more about Geopacific’s development strategy, project economics and upcoming milestones at Woodlark.
