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PREDICTIVE DISCOVERY LIMITED — Capital/Financing Update 2015
Jun 21, 2015
65537_rns_2015-06-21_d4077838-9be0-48f9-b1ca-db50f3c313cc.pdf
Capital/Financing Update
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22[nd ] June 2015
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US$200,000 payment received from Toro Gold
ASX
Predictive Discovery Limited (ASX: PDI) is pleased to announce that Toro Gold Limited (“Toro”), the Company’s joint venture partner in Cote D’Ivoire[1] , has transferred US$200,000 (approximately A$260,000) to Predictive. The payment has been made now following resolution of several conditions precedent in a detailed Shareholder Subscription Agreement which was executed by both parties earlier this year.
Announcement
Predictive Discovery Limited is a gold exploration company with strong technical capabilities focused on its advanced gold exploration projects in West Africa.
PDI’s Cote D’Ivoire subsidiary, Predictive Discovery Cote D’Ivoire SARL (“Predictive CI”) holds four highly prospective exploration permits in Cote D’Ivoire - Kokumbo, Ferkessedougou, Boundiali and Kounahiri - covering a total area of 1,533km[2] . The Kokumbo permit has a gold soil anomaly covering 1 km[2] close to the historic Kokumbo mine with many values exceeding 1g/t Au, historical drill results of up to 3m at 12g/t Au and historic trench results of up to 64g/t Au.
ASX: PDI
Toro is earning a 51% share in Predictive CI by spending US$1 million in aggregate across Predictive CI’s permits. Toro is undertaking an active work program on all four permits, consisting of a large program of soil sampling, totalling about 4,000 samples so far, as well as systematic geological mapping and rock chip sampling. The work to date has been focused mainly on the Kokoumbo permit (Figure 1). Results of this work will be announced as they become available.
Issued Capital: 651M shares Share Price: 0.4 cents
Market Capitalisation: $2.6M
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Directors
Phillip Jackson Non-Exec Chairman Paul Roberts Managing Director
Phil Henty Non-Executive Director
Tim Markwell Non-Executive Director
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Figure 1: Geological Map of Cote D’Ivoire showing location of Predictive CI’s exploration permits. 1 The Heads of Agreement between PDI and Toro Gold was announced to the ASX on 22nd October 2014
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Predictive Discovery Limited (PDI) was established in late 2007 and listed on the ASX in December 2010. The Company is focused on exploration for gold in West Africa. The Company’s major focus is in Burkina Faso, West Africa where it has assembled a substantial regional ground position totalling 1,605km[2] and is exploring for large, open-pittable gold deposits. Exploration in eastern Burkina Faso has yielded a large portfolio of exciting gold prospects, including the high grade Bongou gold deposit on which a resource estimate was calculated in September 2014. PDI also has interests in a strategic portfolio of tenements in Côte D’Ivoire covering a total area of 1,533 km[2] .
For further details please contact:
Paul Roberts Ric Moore Managing Director Company Secretary Tel: +61 402 857 249 Tel: +61 8 6143 1840 Email: Email: [email protected] [email protected]
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