Predictive Discovery continues to advance Bankan Gold Project with $69.2 million strategic placement during half year
Published: 18:37 05 Mar 2025 EST
Predictive Discovery Ltd has achieved a raft of important regulatory and development milestones in the half year period to December 31, securing several government approvals and initiating a definitive feasibility study for the Bankan Gold Project in Guinea.
The company also secured binding commitments to raise A$69.2 million via a strategic private placement with the Lundin family and Zijin Mining Group Co., Ltd.
The funds will be used to produce a definitive feasibility study (DFS) for Bankan, advance environmental and social initiatives for the project, and continue regional exploration while undertaking early development activities.
Bankan Gold Project progress
Following the completion of a pre-feasibility study (PFS) and environmental & social impact assessment (ESIA) in April 2024, the company engaged with Guinea’s Ministère de l'Environnement et du Développement Durable (MEDD) to secure environmental approvals.
A public consultation in July 2024, conducted by the Agence Guinéenne d'Evaluations Environnementales (AGEE), saw 97% satisfaction from local communities regarding the project.
The MEDD had previously granted Predictive the Certificate of Environmental Compliance (ECC) for Bankan, a crucial step toward securing an exploitation licence, in January.
The DFS is also on schedule, with PDI completing geotechnical and hydrogeological drilling and advanced metallurgical test work while also beginning process plant engineering and equipment tendering.
Predictive expects to release the completed DFS in the second half of 2025.
Exploration efforts continued, with resource definition drilling at the BC and Gbengbenden deposits targeting an upgrade of Inferred Mineral Resources to the Indicated category.
PDI aims to establish maiden mineral resources at the Fouwagbe, Sounsoun (Argo), and 800W (NEB area) targets by the end of Q1 2025.
The company’s total assets rose to $181.67 million at the end of December, offering a strong foundation to continue development of Bankan.
