GPR - Geopacific Resources

[snapper_man]

anybody got a sniff of what is going on here? Huge jump in the price this week.

I subscribed to the IPO last december but when they hard trouble raising funds i exercised my right for refund.....Ouch!

GPR is an exploration company focused on Fiji. Where the team which is running the comp had some success in the Past.

Major shareholders include Newmont and MR. O.H. from Oxiana

 

[chris1983]

Something going on there. They have just been catching up to the market cap of PEN. They have a 50/50 holding on that project with PEN. Their shares will jump higher on good news because they only have 24 million shares on issue.

PEN also jumped .03 cents today but have 515 Million shares on issue. There must be good news coming out in regards to that project. I'm annoyed because I should of realised and bought into this one earlier.

 

[moses]

And again. Up 28% today on no news. But very light trading.

 

[Dr Stock]

It has to do with their project in the Fiji.

http://www.crazyjimsmith.com/forums/index.php?showtopic=299

I regret not buying it when I first became aware of it.

 

[drasicjazz]

hey i don't know anything about this one but something is up here
have a look at the sharp rise today and the increase volume
does anyone have a clue about what could be on the horizon

cheers


don't own

 

[micasp]

anyone holding or watching this stock they don't seem to be doing anything but market is so low ($2 mil)

 

[rogerpet]

Hi All,
I am new to ASF but have been watching (and holding) GPR for a while. There was a bit of noise from them early last year about "bonanza grade" find at Faddy's deposit in Fiji (I assume bonanza grade is a good thing). Everything then went quiet. Fair bet that soveriegn risk is a concern and if I were sitting on something big in such an unstable political environment i would probably keep my cards close to the chest too!!. Personally, I have banked (gambled?) on the fact that not long after the Faddy's bonanza news the GPR directors recruited some top gun capital advisors/managers, and shortly after that some recognised (resource focussed) venture capitalists jumped on board the register. I for one am hoping that they get back to the .70c of a cpl of years ago.
RABBIT

 

[rogerpet]

A comparatively large order on GPR placed today. Something is going on here. I own some, so I am hoping this is the beginning of a trend not a short term thing. Do I sell ..... hmmmmm, the eternal question. Has anyone got anything on these guys

 

[rogerpet]

Up 27% today (100% in last week). They made ann earlier today, which in itself doesnt seem to contain anything groundbreaking, but clearly something has put a rocket under the SP

 

[springhill]

MC - $6.5m
SP - 14c
Shares - 43m
Options - 26m
Cash - $1.5m

• Drilling at the Sabeto Project returned a 32m zone of anomalous gold and copper grading 0.24g/t Au and 0.12% Cu from 90m downhole within altered sanidine porphyry intrusive, plus epithermal gold-base metal mineralisation grading up to 5.1g/t Au over intervals between 0.5 and 2m.
• The drilling confirms the prospectivity of Sabeto for both gold-rich disseminated porphyry related gold copper mineralisation and low temperature epithermal vein style gold base metal deposits.
• Previously unsampled zones of fracture-controlled base-metal sulphide mineralisation, similar to that associated with high gold values at Faddy’s, identified in historic drillholes from Mistry prospect.

 

[The Triangle]

Behind schedule, cost over runs.... Love it. Really really love and enjoy when projects start to go off the rails - because it happens all the time on the ASX. Very rarely does it make sense to hold through the construction phase for a junior miner. Normally I would look to invest at these points as stop losses get triggered for others - but they have only recently started, so as their tenders for work come back they will probably be shocked by the actual bid prices vs. feasibility numbers as covid and reckless government money printing have pushed costs up dramatically from 2 years ago. Also their grade is on the low side at 1.1g/t

I will give credit to GPR as they did come off as reasonably transparent and straight forward. From what I can tell it looks like they have picked up quickly there will be issues and have probably decided to slow down and make sure they are doing what is best.

 

[The Triangle]

Missed GPR have suspended themselves while they work through a revised project schedule/funding/costing. Below is a quote from the release from earlier in the month.... If GPR have these headwinds... Everyone will have these headwinds. EV is probably sitting at about 40 million. Might take a bite after they come out of suspension with what will surely be a massive placement to investors at a massive discount... Probably the same investors who hold the debt as well...?

Preliminary results from this review indicate that there is likely to be a material increase in the capital cost for development of the Woodlark Gold Project but, at this stage, the quantum of the change is still being assessed. The Company continues to undertake a detailed work program to define and quantify the extent of the increase. The review is occurring in an environment where significant price volatility is being observed which is increasing the time required to obtain sufficient confidence in a revised Cost Estimate

 

[noirua]

Geopacific Resources (ASX:GPR) hits 300g/t gold at Woodlark, PNG

Geopacific Resources (ASX:GPR) has intersected up to 300 g/t gold at the Woodlark gold project in Papua New Guinea.

themarketherald.com.au

Geopacific Resources (GPR) has intersected up to 300 grams per tonne (g/t) gold at the Woodlark gold project in Papua New Guinea.

A diamond rig arrived on site in July to facilitate drilling at depth to assess extensions of the resource below the existing pits.

 

[The Triangle]

GPR updated their resource today - Not exciting. 49 million tonnes at 1g/t for just under 1.6m ounces.

However, in March 2018 this is what they were presenting as their resource: Notice the ounces, grade, tonnes are almost unchanged in nearly 5 years. However, what appears to be the major difference is that the deposit has dropped from 21 million tonnes in the measured category to 2.5 million tonnes in the measured category and most of the tonnes now sit in indicated.

I'm not sure how that is possible -

So somehow after a few years of infill drilling all GPR have done is reduced their geological confidence??? What am I missing???

Well this seems to be explained here which is on page 2. No surprise that the 'competent persons' on todays release appear to be entirely different to the 'competent persons' on previous releases. GPR may have discovered this issue before, and I just didn't notice it - however it explains why Sprott and others withdrew funding so quickly and the project was shelved. This appears not to just be a cost blowout issue but potentially some issues with the ore reserve. If I held, I would probably be investigating this more, but I don't so I won't. Still, $20 million market cap and $12 million cash makes for an interesting company.