Predictive Discovery
Primary ticker: ASX:PDI
Stage of development: Exploration, Development
Primary minerals: Gold
Project to promote: Bankan Gold Project
Project location: Guinea
Website: www.predictivediscovery.com
PDI is focused on the Tier-1 Bankan Gold Project in Guinea. A Resource of 5.38Moz has been defined to date at NEB (4.89Moz) and BC (487Koz), making Bankan the largest gold discovery in West Africa in a decade.
PDI has completed a PFS and Environmental & Social Impact Assessment, which are crucial steps to secure a mining permit for the Project. The PFS outlined a 269kozpa operation over 12 years, with a maiden Ore Reserve of 3.05Moz and strong financials.
Bankan is highly prospective for additional discoveries. PDI is exploring targets near the NEB and BC deposits, and regionally to the north along the 35km gold super structure which runs through the permits.
Cash: AUD 42M
Debt: NIL
Major shareholders:
Perseus Mining – 19.9%
BlackRock Group – 14.2%
T Rowe Price – 6.5%
Franklin Templeton – 4.9%
Merk Investments – 4.5%
Management ownership – 1%
Financials
Management Profile
Andrew Pardey – Managing Director
Andrew is a geologist with more than 30 years’ experience covering exploration, project development, construction and operation. He served as the CEO of the $2 billion LSE/TSX listed Centamin, which owns the major (450koz pa) Sukari Gold Mine in Egypt. Andrew was a major driving force in bringing Sukari into production, having joined during the transition of the operation from construction into production. He also held senior management roles at the Anglogold-Ashanti Siguiri Mine and Nordgold Lefa Mine, both of which are located within Guinea’s Siguiri Basin, which also hosts PDI’s Bankan Project.
Pierre Louw – CFO
Pierre has over 35 years’ experience in Africa, including Tanzania, Egypt, Zambia and South Africa. He was previously Chief Financial Officer for LSE/TSX listed Centamin, Financial Director of the Lumwana Mining Company in Zambia (Equinox), and Finance and Business Manager of Geita Gold Mine, Tanzania.
Henk Diederichs – COO
Henk is an engineer with over 20 years of experience in the mining industry with extensive expertise in project development and operations. Most recently, Henk was CEO and Managing Director of OreCorp Limited (“OreCorp”), which was advancing the Nyanzaga Gold Project in Tanzania until the acquisition by Perseus Mining . Henk was instrumental in leading the Nyanzaga Gold Project through the Scoping, Pre-Feasibility Study and Definitive Feasibility Study phases. Henk was formerly Senior Vice President Operations for West African producer Allied Gold Corp, which operates the Bonikro, Agbaou and Sadiola gold mines. He also played an integral role in the successful development and operation of Equinox Minerals’ Lumwana Copper Mine in Zambia.
Brad Milne – Corporate Development Manager
Brad has more than 15 years’ corporate development and investment banking experience in the resources industry. He has expertise in investor relations, business development, corporate and asset transactions, feasibility studies, debt funding and equity raising. Previously he was Corporate Development Manager for ASX listed BCI Minerals (formerly BC Iron) and a Manager at corporate advisory firm Azure Capital.
What is your rationale for taking part in 121 Mining Investment?
Seeking to update existing shareholders and potential new investors on latest activities.
What recent news would you like to highlight to investors attending?
– Promising Near-Resource Drilling and Geophysics Results (11 Dec 2023)
– Promising Results from Across the Bankan Gold Project (24 Oct 2023)
– Further Strong Drilling Results from the NEB & BC Area (12 Sep 2023)
– Encouraging Initial Argo RC Results (29 Aug 2023)
– Bankan Mineral Resource Increases to 5.38Moz (7 Aug 2023)
What are your key goals for the next 3, 6 and 12 months?
3 Months:
Approval of the Environmental & Social Impact Assessment (ESIA).
Receipt of an Exploitation (Mining) Permit.
Maiden Mineral Resources estimates for the Fouwagbe, Sounsoun and 800W targets.
Advance the DFS.
Ongoing region exploration in the Argo and Bokoro South areas to further grow the Mineral Resource.
6 Months:
Advance/complete the DFS.
Ongoing region exploration in the Argo and Bokoro South areas to further grow the Mineral Resource.
12 Months:
Secure financing and commence development of the Project.
Ongoing exploration at near-resource targets within 5km of the NEB deposit, and regionally to the north at the Argo area.
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
The NEB and BC deposits are located in the Peripheral Zone of the National Park of Upper Niger, ~18km outside the Core Conservation Area. PDI has completed a comprehensive ESIA and is currently advancing the permitting process to secure approval of the ESIA and an Exploitation (Mining) Permit in the near future.
What do you think makes your company such a compelling investment?
Exploration/development company with the Tier-1 Bankan Gold Project in Guinea.
5.38Moz Resource (inclusive of a 3.05Moz Ore Reserve).
Largest current African gold development project, with the PFS defining average production of 269Kozpa over 12 years.
Competitive capital costs (US$456M) and operating costs (AISC of US$1,130/oz). Strong financials and leveraged to a strong gold price.
Highly prospective permits have the potential for additional large-scale discoveries.
The right Management Team with a track record of building out resource bases, and developing and operating gold mines in Africa.
What are the top 3 key investor takeaways?
1. Large scale resource with significant upside potential.
2. Africa’s largest current gold development project and is rapidly advancing towards development.
3. Significant catalysts and de-risking events are imminent.