PLACER PACIFIC HOPES FOR MISIMA GOLD APPROVAL SOON <Placer Pacific Ltd> said it hopes the Papua New Guinea government will approve development of the Misima gold project next month, following the submission of its final environmental plan in Port Moresby today. This completes the major documentation required to gain official approval to proceed, Placer said in a statement. Placer has estimated the epithermal deposit, located on the eastern half of Misima Island off the southeastern coast of Papua New Guinea, contains proven and probable reserves of 62.1 mln tonnes grading 1.35 grams/tonne gold and 20 grams/tonne silver, and exploration is continuing.