Lundin family, Zijin Mining invest A$70m in Predictive Discovery
ASX-listed Predictive Discovery has received binding commitments from the Lundin family and associates, as well as Hong Kong-listed Zijin Mining Group, to raise almost A$70-million through a strategic private placement.
The Lundin family intends to invest about A$45.1-million to acquire a 6.5% shareholding in Predictive, while Zijin plans to invest A$24.1-million to acquire a shareholding of 3.5%.
The private placement totals 261-million ordinary shares at an issue price of A$0.265 apiece.
Predictive will use the proceeds to advance a definitive feasibility study on the Bankan gold project, in Guinea, continue regional exploration, do early development activities and progress environmental and social programmes.
Predictive MD Andrew Pardey says he looks forward to welcoming the Lundin family and Zijin as strategic shareholders in the company. He says their investment is testament to the quality of the Bankan project and the strides Predictive has made towards developing it into a Tier 1 gold mine.
The prefeasibility study on the project highlights a three-million-ounce reserve that can produce 260 000 oz/y of gold over a 12-year mine life. The company is also exploring targets near two other deposits and regionally to the north along the 35 km super gold structure which runs through its permit areas.
The Lundin family is the majority shareholder of the Lundin Group of companies through a family trust. It was founded by Adolf Lundin in 1975.
The group of companies, which have a combined market capitalisation of C$23.7-billion as at December 31, 2024, are focused on the minerals, metals, renewables and energy sectors, with expertise ranging from early exploration to development and production.
Zijin, meanwhile, is a global mining group focused on exploration and mining of metals such as copper, gold, zinc, lithium, silver and molybdenum.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation