The Company’s key asset is the Tier-1 Bankan Gold Project. A Mineral Resource of 5.38Moz has been defined to date at the NEB (4.89Moz) and BC (487Koz) deposits, making Bankan the largest gold discovery in West Africa in a decade.
PDI completed a Pre-Feasibility Study (PFS) in April 2024, which delivered a maiden Ore Reserve of 3.05Moz from the NEB and BC deposits. With a post-tax NPV of over US$1.4bn and an IRR of 42% at a gold price of US$2,300 per ounce, Bankan will produce an average of 269Koz per annum at an AISC of US$1,130/oz over the current 12-year Life of Mine (LOM).
Baseline social, environmental and biodiversity studies have also been completed as part of an extensive Environmental & Social Impact Assessment (ESIA). Both the PFS and the ESIA are key documents in the permitting process for the Project, and PDI is aiming to secure an Exploitation Permit in the second half of 2024.
PDI’s strategy is to complete the permitting phase, further increase the resource base, optimise and improve the economics of the PFS, deliver a Definitive Feasibility Study and sustainably bring the Bankan Project into production.
In addition, PDI will continue to systematically explore the Bankan permits to discover and develop other gold deposits within this significantly underexplored region.
The Bankan permits, which contain a 35km long gold super-structure, are highly prospective for additional discoveries. PDI is drilling multiple targets near the NEB and BC deposits, and regionally at Argo located 15-20km north of NEB.
Through the sustainable development of the Bankan Gold Project into a Tier-1 mine and identification and development of other deposits, PDI will deliver value for our shareholders, employees, local communities and the Government of Guinea. We embrace the fact that we have a critical role to play within our local communities and within Guinea, as well as in returning value to our shareholders.
Our purpose directs our decisions and actions and shapes the Company’s culture and strategy.
