Latest Papua New Guinea News

Augustus Minerals has executed a binding agreement to acquire a company holding a contested third in line licence application for the Mt Kare Gold Project in Papua New Guinea, a site with a historic resource of over 2 million ounces of gold. The acquisition positions Augustus to actively pursue tenure in a competitive and complex licensing environment.

Geopacific Resources has identified 14 untested porphyry copper-gold targets at its Woodlark Island Gold Project, signaling a new phase of exploration beyond its established epithermal gold focus.

Legacy Minerals has reported compelling new assay results from historic diamond drilling at its Drake Project in NSW, confirming broad, high-grade gold and base metal mineralisation that supports resource growth and robust economics.

Coppermoly Limited has secured $1.75 million in capital, appointed geologist Dickson Leah as CEO, and uncovered significant magnetic anomalies at its Mt Isa prospects, setting the stage for test drilling in Q2 2025.

Voltaic Strategic Resources advances exploration at Meekatharra and Kooline gold projects while securing a strategic 4.2% stake in Geopacific Resources, owner of the Woodlark Island gold project.

Lakes Blue Energy is progressing regulatory approvals and has locked in a drilling rig for its Wombat-5 gas well, while reporting a $1.48 million operating cash outflow and maintaining $3.55 million in cash at quarter-end.

Geopacific Resources has completed a $40 million entitlement offer to fund a major drilling campaign and an updated Definitive Feasibility Study for its 1.67 million ounce Woodlark Gold Project, positioning the company for significant resource growth and project advancement.

Mayur Resources has completed a significant $100.1 million capital raise and secured $115 million in debt to fully fund its Central Lime Project in Papua New Guinea, while progressing construction and community agreements. The company is also rebranding to Pacific Lime and Cement Limited to reflect its new strategic focus.

LCL Resources has struck a binding agreement to divest its Colombian projects for A$10 million plus royalties, while unveiling a maiden 831,000-ounce gold resource at its Kusi project in Papua New Guinea.

Tolu Minerals has raised A$27.25 million through a placement to fund extensive exploration and refurbish its Tolukuma Gold Mine in Papua New Guinea, signaling a strategic push towards early gold production.

Santos Limited's 2024 Annual Report reveals a 5% drop in production and a 9% decline in sales revenue, yet highlights significant progress in carbon capture and storage and emissions reduction efforts.

Santos Limited’s 2024 Annual Report reveals a 5% drop in production and a 9% decline in sales revenue, yet highlights significant progress in carbon capture and storage and emissions reduction targets.