Lundin, Zijin take minority stakes in Predictive Discovery

INTEREST in Guinea gold development firm Predictive Discovery was turned up a notch on Tuesday after the firm said it had introduced two new shareholders via a private placement, raising $69.2m.The Lundin Family and Zijin Mining bought a combined 10% in the company – 6.5% for Lundin Family and 3.5% for Zijin – through the issue of shares priced at A$0.265 per share. This represents a 4.4% premium to the 30-day VWAP (volume weighted average price) as of 31 January 2025.They join Perseus Mining as prominent shareholders in Predictive Discovery which is developing the Bankan gold prospect in Guinea’s Siguiri Basin. Perseus, an aggressive M&A predator, has a dominant 19.9% stake in Predictive Discovery.Based on a prefeasibility study published in April, Bankan is scoped to operate for about 12 years producing 269,000 ounces annually for the first seven. Total life-of-mine costs (AISC) are estimated to be $1,132/oz.The project was recently granted environmental permitting from Guinea ahead of conducting a definitive feasibility study, due to be complete in the second half of this year. The environmental permit was granted on condition Predictive Discovery excluded the ecologically sensitive National Park of Upper Niger from its plan.Shares in the company increased 15% to 0.30 Australian cents/share valuing the company on the Australian Securities Exchange at A$705m.Lundin will invest A$45.1m (170.1 million shares) in Predictive Discovery while Zijin bought A$24.1m (91.1 million shares). The proceeds from the capital raise will be directed to the bankable feasibility study as well as exploration and bio-diversity programmes. Cash on hand increases to A$98m post the private placement.Andrew Pardey, CEO of Predictive Discovery said the placement would help the company “accelerate” Bankan’s development. The project would be fully funded through to an investment decision, he said. “We look forward to working collaboratively with the Lundin Family and Zijin, together with our other shareholders and stakeholders,” said Pardey.The post Lundin, Zijin take minority stakes in Predictive Discovery appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com