Geopacific Resources Ltd GPR

Primary Symbol: GPACF

Metals & Mining Gold

Geopacific Resources Limited is an Australia-based mining and exploration company primarily focused on the development of the high-grade Woodlark Gold Project in Papua New Guinea. The Woodlark Gold Project (the Project) is an advanced gold development project, located on Woodlark Island in Papua New Guinea (PNG). The Project has an endowment of approximately 1.6 million ounces of gold in mineral resources. The Project's prospects include Kulumadau - large-scale target corridor including Great Northern and Boscalo prospects, Talpos/Bains (and South) Prospects, Wayai Creek/Okiduse Prospects and Little McKenzie Prospect. The Project covers approximately 529 square kilometers.

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Geopacific Resources Ltd

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Comment by geomeanon Oct 23, 2007 3:08pm

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Post# 13673912

RE: S1 Filed

Fifo No offense taken. Facts are facts. Adjectives are adjectives. You usually talk facts, not hyperbole, so I read you closely. Insofar as the Lukoil/ONGC transaction, the total consideration paid was for an interest in the entity that owned all three fields. That was never disputed. My point was that ONGC paid for 50% for the value of the fields plus 1/2 of the debt assumed by Lukoil when the purchase was made, plus a deduction for the the debt added to the Kaz sub by Lukoil post Lukoil's acquisition. I stood by that calculation. So if you buy it for 2.1 B, draw out 300MM in cash raised in new subsidiary debt, it's worth 1.8B, 50% is 900 MM. I know I can be wrong. I usually publicly note a correction if I've blundered. I went back and checked the Lukoil/ONGC numbers at the time and found no basis for correction.

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