About Predictive Discovery Limited (ASX:PDI)
Predictive Discovery Limited (PDI or Predictive) was established in late 2007 to explore for gold and uranium. The Company listed on the Australian Stock Exchange in December 2010.
PDI’s objective is to find large gold deposits (>2 million ounces in resources) in West Africa. It is currently exploring in Burkina Faso, Cote D’Ivoire and Mali and continues to evaluate new opportunities throughout West Africa.
The Company operates with a Prospect Generator business model. It holds a large portfolio of highly prospective ground in the Birimian Belt of West Africa (see map). PDI aims to maximise the likelihood of discovering multiple gold deposits in the Birimian while minimising dilution to shareholders through entering joint ventures with well qualified joint ventures when exploration and evaluation expenditure requirements become too high for the Company’s shareholders to support. It does this by acquiring multiple permits in different areas and undertaking rapid, low cost, early stage exploration on them once they are granted. Typically, the Company would then seek a qualified joint venture partner which is capable of both funding ongoing exploration and developing and financing a mine to carry the work forward. Where early exploration results are exceptional, however, Predictive can take the projects further – to ensure that shareholders benefit from all the value creation that comes with an exceptional gold discovery.
Map of the Birimian Gold Belt showing major mines/gold deposits and PDI project areas (stars). Green indicates areas of volcanics and sediments and pink indicates areas of granite).
PDI is the only Prospect Generator operating solely in the Birimian belt in the Francophone region of West Africa (including Burkina Faso, Cote D’Ivoire, Mali, Senegal and Guinea). As such, it offers investors a “one-stop shop” opportunity to gain exposure to potential gold discoveries in the most exciting region in the world to discover and develop large gold deposits.
Predictive started evaluating opportunities in Burkina Faso in 2008 and applied for its first permits in 2009. Later, after several years of project generation, the Company applied for its first permits in Cote D’Ivoire in 2013. The Company started investigating ground acquisition opportunities in Mali in 2017 and applied for its first ground there in early 2018.
In Cote D’Ivoire, PDI has interests in seven granted exploration permits and two permit applications, totalling 2,749km2, which are being actively explored under the terms of a joint venture with Toro Gold Limited (Toro). Exploration is also ongoing under an agreement with Progress Minerals Inc (Progress) and Ivoirian Company, West African Venture Investments SARL (WAVI), on the Bobosso Project, which covers 1,200km2. A further six permit applications covering 2,320km2 are pending.
In Burkina Faso, the Company has a large regional tenement package in the north-east of the country covering 949km2. The Company carried a series of exploration programs there from 2010 to 2015 and discovered the high-grade Bongou gold discovery and numerous prospects in the surrounding area. A formal Mineral Resource Estimate on Bongou resulted in 184,000oz of gold in the Inferred and Indicated Mineral Resource categories with an average grade of 2.6g/t Au, including 136,000oz at 3.8g/t Au (ASX release dated 4/9/14). The current Burkina Faso permits are all subject to a joint venture with Progress Minerals (Inc) which may earn a 70% interest in the permit package by expenditure of US$5 million on exploration.
PDI also holds an Exploration Licence in Victoria which was drilled in 2016 by joint venture partner, Cape Clear Minerals Pty Ltd.