ASX
Announcement
Predictive Discovery Limited is a gold exploration company with strong technical capabilities focused on its advanced gold exploration projects in West Africa.
ASX: PDI
Issued Capital: 1.454B shares
Share Price: 1.3 cents
Market Capitalisation:
$18.9M
Directors
Phillip Jackson
Non-Exec Chairman
Paul Roberts
Managing Director
David Kelly
Non-Executive Director
6 October 2016
PREDICTIVE COMPLETES CAPITAL RAISING TO ASSIST FUNDING OF EXPLORATION IN WEST AFRICA
Predictive Discovery Limited (ASX: PDI) ('PDI' or 'the Company') is pleased to announce that at the Extraordinary General Meeting held 5 October 2016, shareholders approved the placement of 75,000,000 shares to its major shareholder, Aurora Minerals Limited (Aurora), and the placement of 101,945,000 shares to Sprott Global Resource Investments, Ltd (Sprott) and clients of Sprott.
The placement raised $1,769,450 and will be in addition to the funds raised in the Share Purchase Plan and associated placement ($830,000) and placement of 45,000,000 shares for $450,000 announced on 25 August 2016. Total funds raised totalled $3,049,450 before costs.
The Company is very pleased to welcome Sprott to its share register.
The funds raised under the capital raisings will be used for exploration and general working capital purposes. This will assist PDI in funding its gold exploration activities in West Africa including:
-
The Company's 35% share of exploration costs in the Toro Gold Joint Venture once Toro Gold Limited achieves its 65% equity by spending US$2.5 million. This will include funding of the exciting Boundiali project in northern Cote D'Ivoire.
-
Exploration of the Bobosso Project in Eastern Cote D'Ivoire.
-
If a joint venture with a third party is not concluded on satisfactory terms, ongoing exploration and evaluation of the Company's Bonsiega Project in Burkina Faso, including the Bongou gold deposit, aimed at advancing the project towards a feasibility study.
-
New project generation in West Africa.
For further details please contact: