Welcome to Kula Gold
Kula Gold is a gold development company with an advanced stage gold project on Woodlark Island, Papua New Guinea, located approximately 250 kilometres east of Alotau, which is located on the east coast of the Papua New Guinea mainland.
The Company holds 450 square kilometres of contiguous, prospective exploration licenses at the Project, which has a JORC Resource of 2.1 million ounces of gold and a JORC Reserve of 766,000 ounces of gold. A successful Feasibility Study was completed in Sept 2012.
Kula Gold has a defined path to production and is well advanced in the permitting process, having received the Environment Permit for the Project. The Mining Lease Application is currently under the consideration by the PNG Mineral Resource Authority. The Company has progressed equity negotiations with the PNG Government and has finalised a consensus term sheet with a shortlisted group of banks and financial institutions.
The Project has excellent potential to increase mine life through the conversion of known Resources surrounding the Reserves, Resource expansion on advanced geological targets, and regional exploration activity.
The Company is continuing to focus on improving Project value through reviewing capital costs, production scheduling and opportunities for a staged upgrading of production capacity.