Gold developer Predictive Discovery is set to build one of the "largest gold mines in West Africa in a generation" following the completion of a definitive feasibility study (DFS) for its flagship Bankan project in Guinea.

The DFS outlines average production of about 250 000 oz/y over a mine life of 12.2 years, totalling 3.03-million ounces from 54.5-million tonnes of ore grading 1.86 g/t. The operation will have an all-in sustaining cost of $1 057/oz and require a capital investment of $463-million, including contingencies.

Predictive MD Andrew Pardey said in a statement that the DFS delivered compelling returns for shareholders and stakeholders alike.

At a gold price of $2 400/oz, the project delivers an aftertax net present value (NPV) of $1.6-billion at a 5% discount rate and an internal rate of return of 46%, with capital payback in less than two years.

Pardey added that the project demonstrated "exceptional leverage to the current strong gold price environment, with each additional $100/oz increasing the NPV by approximately $140-million”.

The DFS follows optimisation work that has been undertaken since the April 2024 prefeasibility study (PFS).

“Through extensive optimisation and strategic reviews since the PFS last year, we have demonstrated that returns will be maximised through significantly reducing the openpit strip ratio and improving the throughput grade, via a strategy which includes a smaller NEB openpit with steeper wall angles together with a larger contribution from the underground mine from the commencement of operations,” Pardey noted.

An updated ore reserve for Bankan includes 51.6-million tonnes at 1.78 g/t for 2.95-million ounces of contained gold, with the estimate based on a gold price of $1 800/oz.

The project is also expected to deliver substantial socioeconomic benefits for Guinea, with government revenues totalling about $2-billion over the mine life, alongside job creation for more than 1 500 people during construction and over 1 100 when in operation.

Predictive is in the final stage of the exploitation permit review process with the Guinean government. "We are confident the exploitation permit will be secured in the near future,” Pardey said.

With the DFS complete, the company will now begin project financing, execution readiness and early works, aiming to start construction in the second quarter of 2026 and commercial production in the second quarter of 2028.

“In parallel, completion of the DFS will trigger commencement of the financing process, execution-readiness activities and selected early works, as we rapidly advance the project towards construction,” Pardey concluded.