Cote d'Ivoire Projects
PDI holds four highly prospective exploration permits in Cote D’Ivoire: Kokumbo, Ferkessedougou, Boundiali and Kounahiri, covering a total area of 1,533km2 (Figure 1). These permits were selected by a country-wide analysis of geophysical and geological data using the same Predictore® methods which were used to select the Company’s ground in Burkina Faso.
Joint Venture with Toro Gold Limited
PDI signed a Heads of Agreement (HOA) with Toro Gold Limited (Toro) on the Company's entire Cote D'Ivoire ground holding on 22nd September 2014. Subject to successful completion of legal due diligence by Toro, terms of the agreement include:
Toro is a private gold exploration and development company focused in Africa. It is led by a team with a successful track record of discovery, development, operation and corporate transactions. Toro is well funded, and has strong institutional shareholder support, including the African Lion 3 Fund, Resource Capital Funds, Macquarie Bank and Sprott. Toro's flagship project is the Mako deposit in Senegal with a published JORC 2012-compliant Resource Estimate of 1.4 million ounces at 1.75g/t Au. Mako is currently the subject of a Definitive Feasibility Study. This joint venture is Toro's first investment into Cote D'Ivoire.
Figure 1: Location of Cote D'Ivoire permits on geology background