Latest Papua New Guinea News

Geopacific Resources advances its Woodlark Gold Project with promising drilling results at Kamwak and a crucial mining lease extension, while strengthening strategic partnerships and progressing its feasibility study.

Lakes Blue Energy marked a pivotal quarter with its ASX reinstatement, a $5.8 million capital raise, and completion of the Wombat-5 well, setting the stage for imminent production testing and resource upgrades.

RTG Mining moves closer to production at its high-grade Mabilo Copper and Gold Project with full financing secured from Glencore, while drilling results at its Chanach Project in Kyrgyzstan reveal promising resource expansion potential.

St Barbara Limited reports steady progress on its Simberi Expansion Project in Papua New Guinea and Atlantic Gold Projects in Canada, despite production challenges and pending regulatory decisions. A recent A$58 million capital raise strengthens its financial position for growth.

Tolu Minerals confirms multiple high-priority porphyry copper-gold targets at its Mt Penck project in Papua New Guinea, supported by an independent geophysical review and surrounded by active exploration including a major Rio Tinto application.

Canterbury Resources has successfully closed an oversubscribed Share Purchase Plan, raising $1.24 million to advance its copper-gold exploration projects across Australia and Papua New Guinea.

Voltaic Strategic Resources has identified new gold mineralised corridors at Meekatharra and confirmed rare earth potential at Paddys Well, while maintaining a robust cash position of A$7.9 million.

Augustus Minerals has completed heritage surveys and soil sampling at its Music Well gold project, setting the stage for maiden drilling, while its Mt Kare project in Papua New Guinea moves through permitting with plans for aggressive development.

De.mem Limited has acquired Core Chemicals Pty Ltd for $2.68 million, nearly doubling its EBITDA and positioning itself to capitalise on a surging gold sector. The deal combines strong recurring revenues with significant synergy potential.

De.mem Limited has acquired Core Chemicals Ltd for approximately $3 million, significantly expanding its footprint in the Australian gold mining sector and enhancing its pro-forma EBITDA to $1.6 million.

IMDEX Limited reported a resilient FY25 with steady margins, reduced net debt, and strategic acquisitions positioning it for growth. The company’s FY26 outlook is optimistic, supported by improving global exploration activity and technology adoption.

Bougainville Copper Limited remains inactive in production but advances talks with international mining firms to revive the long-dormant Panguna Project, backed by the Autonomous Bougainville Government.