ASX-listed Predictive Discovery has provided a summary of activities for the June 2025 quarter at its Bankan Gold Project in Guinea, West Africa. During the quarter, the Definitive Feasibility Study (DFS) was announced along with maiden Mineral Resource estimates for the Fouwagbe and Sounsoun deposits and further exploration results from Sounsoun.
The Exploitation Permit application progressed through further steps with the Government of Guinea and is now in the final stage of the process.
Highlights
Definitive Feasibility Study
- DFS released during June, reaffirming the large scale, long mine life and compelling financials of the Bankan Gold Project.
- Life-of-mine (LOM) average production of approximately 250koz per annum over 12.2 years (for total production of 3.03Moz) from mill feed of 54.5Mt @ 1.86g/t containing 3.26Moz of gold.
- Outstanding financial returns with post-tax project NPV5% of US$1.6bn (A$2.5bn2 ), IRR of 46%.
- Significant upside at recent average spot gold prices of ~US$3,300/oz. Post-tax NPV5% increases to US$2.9bn (A$4.5bn2 ) with an IRR of 73% and payback period of just over 1 year.
- Competitive capital and operating costs largely in-line with Pre-Feasibility Study (PFS) estimates on an overall basis, but with improved accuracy (±15% vs ±25%) and up-to-date pricing (Q1 2025 vs Q4 2023): o Capital cost estimate of US$463m, which includes pre-production operating costs, indirect costs and US$34m contingency. o Leading all-in sustaining costs (“AISC”)3 of ~US$1,057/oz, delivering strong free cashflow.
- Updated Probable Ore Reserve estimate of 51.6Mt @ 1.78g/t for 2.95Moz of contained gold across the NEB open pit (including Gbengbeden (GBE)), NEB underground and BC open pit areas. Ore Reserves estimated at a conservative gold price of US$1,800/oz.
- Construction scheduled to occur over a two-year period commencing in Q2 2026 (following execution readiness activities and selected early works), enabling start of commercial production in Q2 2028.
Regional Exploration
- Maiden Mineral Resource estimates released for the Argo area, comprising 2.2Mt @ 1.68g/t for 119koz at Fouwagbe and 0.9Mt @ 1.19g/t for 34koz at Sounsoun.
- Additional strong exploration drilling results from the Sounsoun SW target area, located more than 800m south-west of the E-W shear zone which hosts Sounsoun current Mineral Resource.
Best intercepts included:
o 26m @ 6.74g/t from 81m (incl. 3.85m @ 16.92g/t from 82.65m and 3m @ 29.72g/t from 97m);
o 26m @ 0.73g/t from 26m and 20m @ 0.94g/t from 57m;
o 9m @ 1.20g/t from 20m (incl. 1m @ 6.68g/t from 24m) and 3m @ 4.41g/t from 66m; and
o 10.25m @ 1.45g/t from 31m.
- PDI is in regular discussions with the Ministry of Mines and Geology (MMG) regarding the status of the Argo and Bokoro exploration permits, following the MMG’s announcement in May, which included more than 100 exploration permits.
Sustainability and Permitting
- Sustained engagement by PDI on the Exploitation Permit application, with the application advancing through the final stages of the process with the Comité Technique des Titres (Technical Committee of Titles) and the Commission Nationale des Mines (National Mining Commission) during the quarter.
- Development of key environmental and social management plans and action plans continued. Consultants were appointed during the quarter and workstreams for development of the plans commenced.
- Completed dry season biodiversity surveys for 2025 as part of ongoing biodiversity monitoring requirements.
- Continued with various community projects to support local schools and education. Progressed with plans to install five water bores during the second half of 2025.
September 2025 Quarter Planned Activities
- Further engagement with the Government of Guinea to secure the Exploitation Permit. • Commence the financing process to secure committed funding for the Project.
- Initiate execution readiness activities, which in the near-term will include:
o Commencing formation of an integrated project management team;
o Advancing preparation of a project management plan and development of project management systems;
o Progressing the project execution and contracting strategy to support tendering and award of key contracts;
o Engaging engineering consultants in preparation for commencement of front-end engineering;
- Continue to develop the required environmental and social management plans and work plans.
- Regional exploration is currently on hold while PDI clarifies the status of the Argo and Bokoro exploration permits with the MMG.
