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PREDICTIVE DISCOVERY LIMITED Interim / Quarterly Report 2024

Mar 10, 2024

65537_rns_2024-03-10_3ea9ef38-51e0-4410-af2e-8ba271c72b73.pdf

Interim / Quarterly Report

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ABN 11 127 871 877

INTERIM FINANCIAL REPORT

FOR THE HALF-YEAR ENDED 31 DECEMBER 2023

==> picture [46 x 53] intentionally omitted <==

PREDICTIVE DISCOVERY LIMITED AND CONTROLLED ENTITIES ACN 127 871 877

CORPORATE DIRECTORY

DIRECTORS

AUDITOR

Mr Simon Jackson Non-Executive Chairman Mr Andrew Pardey Managing Director Mr Steven Michael Non-Executive Director Ms Sandra Bates Non-Executive Director

PKF Perth

Level 5, 35 Havelock Street WEST PERTH WA 6005

Company Secretary Mr Ian Hobson

REGISTERED OFFICE

Suite 8 110 Hay Street SUBIACO WA 6000 Telephone: +61 8 9216 1000 Email: [email protected] Website: www.predictivediscovery.com

SHARE REGISTRY

Computershare Pty Ltd Level 17, 221 St Georges Terrace PERTH WA 6000 Telephone: 1300 850 505 Website: www.computershare.com.au

Hamilton Locke Level 27, 152-158 St Georges Terrace PERTH WA 6000

PO Box 1710 WEST PERTH WA 6872

ASX CODE

PDI

CONTENTS

DIRECTORS’ REPORT 3
CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME 6
CONSOLIDATED STATEMENT OF FINANCIAL POSITION 7
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 8
CONSOLIDATED STATEMENT OF CASH FLOWS 9
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 10
DIRECTORS’ DECLARATION 20
INDEPENDENT AUDITOR’S REVIEW REPORT 21
AUDITOR’S INDEPENDENCE DECLARATION 23

PREDICTIVE DISCOVERY LIMITED INTERIM FNANCIAL REPORT

2

PREDICTIVE DISCOVERY LIMITED AND CONTROLLED ENTITIES ACN 127 871 877

DIRECTORS’ REPORT

Your directors present their report, together with the financial statements of Predictive Discovery Limited (PDI or the Company) and controlled entities (the Group) for the half year ended 31 December 2023.

DIRECTORS

The names of the Company’s directors in office during the half-year and until the date of this report are as below. Directors were in office for this entire period unless otherwise stated.

Mr Simon Jackson Non-Executive Chairman Mr Andrew Pardey Managing Director Mr Steven Michael Non-Executive Director Ms Sandra Bates Non-Executive Director

RESULTS

The consolidated loss after income tax of the Group for the half year after providing for income tax amounted to $3,004,558 (31 December 2022: $8,538,377).

CORPORATE

Cash Position

Predictive remains well-funded with cash and term deposits of $25,508,230 million as at 31 December 2023.

REVIEW OF OPERATIONS

During the half-year, the Company continued to focus on advancing its Bankan Project, a Tier-1 gold project located in Guinea, West Africa.

In August 2023, the Bankan Project’s Mineral Resource increased to 100.5Mt @ 1.66g/t for 5.38Moz[1] , representing a 29% increase in contained gold compared to the previous 4.18Moz Mineral Resource. Increases were achieved across all of the NEB Open Pit, NEB Underground and BC Open Pit Mineral Resources, and importantly a total of 4.14Moz was upgraded to the Indicated category.

Table 1: Bankan Project August 2023 Mineral Resource Estimate

Deposit Classification Cut-off
(g/t Au)		 Tonnes
(Mt)		 Grade
(g/t Au)		 Contained
(Koz Au)
NEB Open Pit Indicated 0.5 78.4 1.55 3,900
Inferred 0.5 3.1 0.91 92
Total 81.4 1.53 3,993
NEB Underground Inferred 2.0 6.8 4.07 896
NEB Total 88.3 1.72 4,888
BC Open Pit Indicated 0.4 5.3 1.42 244
Inferred 0.4 6.9 1.09 243
BC Total 12.2 1.24 487
Total Bankan Project 100.5 1.66 5,376

1 ASX announcement “Bankan Mineral Resource Increases to 5.38Moz” dated 7 August 2023.

Due to the significance of the Mineral Resource increase and upgrade, combined with the advanced level of work being completed, the Company announced in October 2023 that the Bankan Project study had been upgraded from a Scoping Study to a PFS (including maiden Ore Reserves), which will materially improve the level of certainty of the Project. To achieve PFS-level across the entire study, additional work is required in areas such as geotechnical, mine design and cost estimation, and the completion date was therefore revised to Q1 2024 (previously end of 2023 for the Scoping

PREDICTIVE DISCOVERY LIMITED INTERIM FINANCIAL REPORT

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PREDICTIVE DISCOVERY LIMITED AND CONTROLLED ENTITIES ACN 127 871 877

Study). The PFS and the Environmental and Social Impact Assessment continued to progress and remain on track to be completed during Q1 2024.

Following completion of the updated Mineral Resource estimate, PDI increased its focus on exploring and drilling multiple Argo and near-resource targets.

At Argo, which is located 15-20km north of NEB, PDI is aiming to discover additional commercial gold deposits which have the potential to host additional major gold discoveries. Multiple targets were identified through geochemical auger drilling and geophysics. During the half-year, PDI completed an initial 49-hole reverse circulation (RC) drilling program and commenced a follow-up RC and aircore (AC) drilling program, which is ongoing.

Encouraging results were received at a number of Argo targets during the half-year, including:

  • Fouwagbe : 12m @ 6.75g/t, 4m @ 12.14g/t, 4m @ 4.81g/t and 6m @ 1.56g/t at a 600m long multi-element auger anomaly coincident with artisanal workings[2,3,4] ;

  • Sinkoumba : 4m @ 6.87g/t and 2m @ 10.90g/t in the same corridor as Fouwagbe[4] ;

  • Sounsoun : two parallel north-west dipping structures intersected at the north-eastern end of a 1.8km long auger anomaly, with best results of 5m @ 5.16g/t and 9m @ 1.04g/t[3] ;

  • Naladioulou-Gbata : 9m @ 4.42g/t at an auger anomaly and 1m @ 30.40g/t on trend 700m to the south-west near artisanal workings[3] ;

  • Tindini : Best result of 14m @ 1.97g/t[3] .

Near-resource drilling is aiming to discover additional deposits which can support an operation centred around the NEB and BC deposits. The drilling program is progressively testing numerous areas in the vicinity of the NEB and BC deposits and following up the most promising targets with additional drilling.

During the half year, best results were received from the 800W, SB and SEB targets, which are showing potential to become future satellite deposits. Best results from these targets included[3,4] :

  • 800W : 16m @ 1.74g/t, 11m @ 2.42g/t, 9.5m @ 2.73g/t, 9m @ 2.72g/t and 11m @ 1.91g/t;

  • SB : 3m @ 13.40g/t, 9m @ 3.30g/t, 10m @ 1.84g/t and 6.75m @ 1.96g/t;

  • SEB : 3m @ 27.66g/t, 2m @ 3.96g/t, 1m @ 12.80g/t, 2m @ 3.84g/t, 4m @ 2.47g/t and 3m @ 4.68g/t.

Encouraging results were also received at other near-resource targets, including NEB North, NEB South and BC East.

Compliance Statement

Predictive confirms that it is not aware of any new information or data that materially affects the exploration results or mineral resource estimates included in any original ASX announcement and all material assumptions and technical parameters underpinning the mineral resource estimates continue to apply and have not materially changed.

SIGNIFICANT CHANGES IN THE STATE OF AFFAIRS

There were no significant changes in the state of affairs of the Group during the financial half-year.

EVENTS SUBSEQUENT TO BALANCE SHEET DATE

Subsequent to the half-year end, results were announced in February 2024 for 131 holes for 9,355m of exploration drilling at Argo and near-resource.[5] At Argo, drilling at the high-priority Sounsoun target intersected four mineralised structures over a 700m strike length so far (of the 1.8km auger anomaly). Best new results included 2m @ 7.76g/t from 38m, 6m @ 2.11g/t from 11m, 6m @ 1.62g.t from 158m and 6m @ 1.54g/t from 20m. Near-resource drilling delivered further positive results from the SB and SEB targets. At SB, best results included 3m @ 8.28g/t from 2.8m, 7m @ 1.51g/t from 19m, 9m @ 1.38g/t from 244m and 8m @ 1.12g/t from 195m. The best result at SEB was 2.9m @ 14.50g/t from 194m.

2 ASX Announcement – Encouraging Initial Argo RC Results (29 August 2023). 3 ASX Announcement – Promising Results from Across the Bankan Gold Project (24 October 2023).

4 ASX Announcement – Drilling at Bankan Delivers More Positive Results (11 December 2023).

5 ASX Announcement – Sounsoun, SB and SEB Targets advanced by Latest Drilling (1 February 2024).

PREDICTIVE DISCOVERY LIMITED INTERIM FINANCIAL REPORT

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PREDICTIVE DISCOVERY LIMITED AND CONTROLLED ENTITIES ACN 127 871 877

There are no other matters or circumstances which have arisen since the end of the half year which significantly affected or could significantly affect the operations of the Group, the results of those operations, or the state of affairs of the Group in future financial years.

AUDITOR’S INDEPENDENCE DECLARATION

A copy of the lead auditor’s independence declaration as required by Section 307c of the Corporations Act 2001 is included within the Financial Report.

Signed in accordance with a resolution of Directors:

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Andrew Pardey Managing Director

8 March 2024

PREDICTIVE DISCOVERY LIMITED INTERIM FINANCIAL REPORT

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PREDICTIVE DISCOVERY LIMITED AND CONTROLLED ENTITIES ACN 127 871 877

CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE HALF-YEAR ENDED 31 DECEMBER 2023

The accompanying notes form part of these financial statements

Note
Finance income
Other income
Employee benefits expenses
Share based payments expense
Administrative expenses
2
Depreciation of fixed assets
Depreciation – Rights of Use assets
Foreign exchange gain/(loss)
Cost to dispose of subsidiaries
3
Exploration expenditure pre-right to tenure
VAT impairment expense
10
Loss before income tax
Income tax expense
Net loss for the year
Other comprehensive income
Item that may be reclassified subsequently to operating result
Foreign currency translation
Total comprehensive loss for the year
Loss attributable to:
Members of the parent entity
Basic loss per share (cents per share)
Diluted loss per share (cents per share)		 Consolidated
31 December
2023
$
31 December
2022
$
768,187
360,739
-
156
(168,996)
(172,841)
(798,942)
(1,562,568)
(716,519)
(985,034)
(226,523)
(173,889)
(70,899)
(70,195)
118,578
(797,490)
(6,940)
(265,322)
(1,203,886)
(3,587,323)
(698,618)
(1,284,610)
(3,004,558)
(8,538,377)
-
-
(3,004,558)
(8,538,377)
(2,405,317)
(645,973)
(5,409,875)
(9,184,350)
(5,409,875)
(9,184,350)
(0.0014)
(0.005)
(0.0014)
(0.005)		 Consolidated
31 December
2023
$
31 December
2022
$
768,187
360,739
-
156
(168,996)
(172,841)
(798,942)
(1,562,568)
(716,519)
(985,034)
(226,523)
(173,889)
(70,899)
(70,195)
118,578
(797,490)
(6,940)
(265,322)
(1,203,886)
(3,587,323)
(698,618)
(1,284,610)
(3,004,558)
(8,538,377)
-
-
(3,004,558)
(8,538,377)
(2,405,317)
(645,973)
(5,409,875)
(9,184,350)
(5,409,875)
(9,184,350)
(0.0014)
(0.005)
(0.0014)
(0.005)
(8,538,377)
-
(8,538,377)
(645,973)
(9,184,350)
(9,184,350)
(0.005)
(0.005)

PREDICTIVE DISCOVERY LIMITED INTERIM FINANCIAL REPORT

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PREDICTIVE DISCOVERY LIMITED AND CONTROLLED ENTITIES ACN 127 871 877

CONSOLIDATED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2023

Note
Current Assets
Cash and cash equivalents
Other financial assets – term deposits
Trade and other receivables
Total current assets
Non-Current Assets
Property, plant and equipment
4
Exploration and evaluation expenditure
5
Right of use assets
Total non-current assets
Total assets
Current Liabilities
Trade and other payables
6
Lease liabilities
Total current liabilities
Non-Current Liabilities
Lease liabilities
Total non-current liabilities
Total liabilities
Net Assets
Equity
Issued capital
7
Reserves
Accumulated losses
Total Equity		 Consolidated
31 December
2023
$
30 June
2023
$
15,450,469
43,974,719
10,057,761
919,839
548,115
500,985
26,056,345
45,395,543
654,422
878,692
102,907,736
87,201,892
236,331
312,188
103,798,489
88,392,772
129,854,834
133,788,315
4,345,245
4,631,848
77,700
78,311
4,422,945
4,710,159
155,400
234,930
155,400
234,930
4,578,345
4,945,089
125,276,489
128,843,226
177,166,780
175,912,716
8,389,055
10,205,298
(60,279,346)
(57,274,788)
125,276,489
128,843,226		 Consolidated
31 December
2023
$
30 June
2023
$
15,450,469
43,974,719
10,057,761
919,839
548,115
500,985
26,056,345
45,395,543
654,422
878,692
102,907,736
87,201,892
236,331
312,188
103,798,489
88,392,772
129,854,834
133,788,315
4,345,245
4,631,848
77,700
78,311
4,422,945
4,710,159
155,400
234,930
155,400
234,930
4,578,345
4,945,089
125,276,489
128,843,226
177,166,780
175,912,716
8,389,055
10,205,298
(60,279,346)
(57,274,788)
125,276,489
128,843,226
45,395,543
878,692
87,201,892
312,188
88,392,772
133,788,315
4,631,848
78,311
4,710,159
234,930
234,930
4,945,089
128,843,226
175,912,716
10,205,298
(57,274,788)
128,843,226

The accompanying notes form part of these financial statements

PREDICTIVE DISCOVERY LIMITED INTERIM FINANCIAL REPORT

7

PREDICTIVE DISCOVERY LIMITED AND CONTROLLED ENTITIES ACN 127 871 877

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE HALF-YEAR ENDED 31 DECEMBER 2023

CONSOLIDATED
At 1 July 2022
Profit (loss) attributable to members
Other comprehensive income
Total comprehensive loss for the year
Transactions with owners in their capacity as owners:
Transfer of lapsed options
Transfer from exercise of options
Issue of share capital
Share-based payments
Transaction costs
At 31 December 2022
At 1 July 2023
Profit (loss) attributable to members
Other comprehensive income
Total comprehensive loss for the year
Transactions with owners in their capacity as owners:
Issue of shares - Exercise of options
Transfer from exercise of options
Issue of share capital
Share-based payments
Transaction costs
At 31 December 2023		 Issued Capital
Accumulated Losses
Foreign Currency
Translation Reserve
Share Based
Payments
Reserve
Total
$
$
$
$
$
113,950,491
(46,282,167)
4,027,994
2,383,401
74,079,719
-
(8,538,377)
-
-
(8,538,377)
-
-
(645,973)
-
(645,973)
-
(8,538,377)
(645,973)
-
(9,184,350)
-
-
-
-
-
401,043
-
-
(401,043)
-
22,385,981
-
-
-
22,385,981
-
-
-
1,562,568
1,562,568
(1,011,812)
-
-
-
(1,011,812)
135,725,703
(54,820,544)
3,382,021
3,544,926
87,832,106
175,912,716
(57,274,788)
5,029,754
5,175,544
128,843,226
-
(3,004,558)
-
-
(3,004,558)
-
-
(2,405,317)
-
(2,405,317)
-
(3,004,558)
(2,405,317)
-
(5,409,875)
896,000
-
-
-
896,000
209,868
-
-
(209,868)
-
150,000
-
-
-
150,000
-
-
-
798,942
798,942
(1,804)
-
-
-
(1,804)
177,166,780
(60,279,346)
2,624,437
5,764,618
125,276,489

The accompanying notes form part of these financial statements

PREDICTIVE DISCOVERY LIMITED INTERIM FINANCIAL REPORT

8

PREDICTIVE DISCOVERY LIMITED AND CONTROLLED ENTITIES ACN 127 871 877

CONSOLIDATED STATEMENT OF CASH FLOWS

FOR THE HALF-YEAR ENDED 31 DECEMBER 2023

Note
Cash flows from operating activities
Interest received
Receipts from customers
Payments to suppliers and employees
Payments for exploration expenditure
Net cash (used in) operating activities
Cash flows from investing activities
Payment for other financial assets
Payments for purchase of plant and equipment
Payment of lease liabilities
Net cash (outflow) from investing activities
Cash flows from financing activities
Proceeds from issue of shares
Proceeds from exercise of options
Payment for share issue costs
Net cash inflow from financing activities
Net (decrease) in cash and cash equivalents held
Effect of exchange rate on Cash and Cash Equivalents
Cash and cash equivalents at beginning of the half-year
Cash and cash equivalents at the end of the half-year		 Consolidated
31 December
2023
31 December
2022
$
$
768,187
204,496
-
-
(1,815,544)
(1,459,196)
(19,387,328)
(30,983,066)
(20,434,685)
(32,237,766)
(10,057,761)
(11,234,239)
(2,253)
(149,068)
(80,141)
(133,556)
(10,140,155)
(11,516,863)
125,000
20,779,465
896,000
1,606,516
(1,804)
(957,750)
1,019,196
21,428,231
(29,555,644)
(22,326,398)
111,555
1,441,432
44,894,558
42,035,541
15,450,469
21,150,575		 Consolidated
31 December
2023
31 December
2022
$
$
768,187
204,496
-
-
(1,815,544)
(1,459,196)
(19,387,328)
(30,983,066)
(20,434,685)
(32,237,766)
(10,057,761)
(11,234,239)
(2,253)
(149,068)
(80,141)
(133,556)
(10,140,155)
(11,516,863)
125,000
20,779,465
896,000
1,606,516
(1,804)
(957,750)
1,019,196
21,428,231
(29,555,644)
(22,326,398)
111,555
1,441,432
44,894,558
42,035,541
15,450,469
21,150,575
(32,237,766)
(11,234,239)
(149,068)
(133,556)
(11,516,863)
20,779,465
1,606,516
(957,750)
21,428,231
(22,326,398)
1,441,432
42,035,541
21,150,575

The accompanying notes form part of these financial statements

PREDICTIVE DISCOVERY LIMITED INTERIM FINANCIAL REPORT

9

PREDICTIVE DISCOVERY LIMITED AND CONTROLLED ENTITIES ACN 127 871 877

NOTES TO THE FINANCIAL STATEMENTS

NOTE 1: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a) Basis of Preparation

This consolidated interim financial report for the half year ended 31 December 2023 are general purpose financial statements that have been prepared in accordance with the requirements of the Corporations Act 2001 and Australian Accounting Standard AASB 134: Interim Financial Reporting, as appropriate for a profit-oriented entity. Compliance with AASB 134 ensures compliance with International Financial Reporting Standard IAS134: Interim Financial Reporting.

The financial statements were authorised for issue, in accordance with the resolution of directors, on 8 March 2024.

The interim financial report is intended to provide users with an update on the latest annual financial statements of Predictive Discovery Limited and controlled entities (the Group). This interim consolidated financial report does not include all the notes normally included in an annual financial report. It is therefore recommended that this interim financial report be read in conjunction with the annual financial report of the Group for the year ended 30 June 2023, together with any public announcements made during the half year. The same accounting policies and methods of valuation have been followed in this interim financial report as were applied in the most recent annual financial report.

(b) Going Concern

The financial report has been prepared on the going concern basis, which contemplates continuity of normal business activities and the realisation of assets and the settlement of liabilities in the normal course of business. The Group incurred a loss of $3,004,558 (2022: $8,538,377) and incurred cash outflows from operating activities of $20,434,685 (2022: $32,237,766) for the half year ended 31 December 2023. As at 31 December 2023 the Group had net assets of $125,276,489 (30 June 2023: $128,843,226) and continues to incur expenditure on its exploration tenements drawing on its cash balances.

The ability of the Company and the Group to continue to pay its debts as and when they fall due is dependent upon the Company successfully raising additional share capital and ultimately developing its mineral properties. The Directors believe that they will continue to be successful in securing additional funds through equity issues as and when the need to raise working capital arises. Considering the cashflow projection for projects it is noted that the cash surplus position would be significantly depleted in the next 12 months, however no material uncertainty exists as approximately $6m of projected outflow is discretionary and could be avoided if required.

The financial report has been prepared on the basis that the Group can meet its commitments as and when they fall due and can therefore continue normal business activities, and the realisation of assets and liabilities in the ordinary course of business. The financial report does not include any adjustments in relation to the recoverability and classification of recorded asset amounts or to the amounts and classification of liabilities that might be necessary should the Group not continue as going concern.

(c) New, revised or amending Accounting Standards and Interpretations adopted

The Group has adopted all the new and revised Accounting Standards and Interpretations issued by the Australian Accounting Standards Board that are mandatory for the current reporting period. The adoption of these new and revised Accounting Standards and Interpretations has not resulted in a significant or material change to the Group’s accounting policies.

Any new, revised or amending Accounting Standards or Interpretations that are not yet mandatory have not been early adopted by the Group.

PREDICTIVE DISCOVERY LIMITED INTERIM FINANCIAL REPORT

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PREDICTIVE DISCOVERY LIMITED AND CONTROLLED ENTITIES ACN 127 871 877

NOTE 2: ADMINISTRATIVE EXPENSES
Legal, professional and consultancy fees
Advertising and marketing
Compliance fees
Recruitment fees
IT & telecommunication expenses
Travel and accommodation fees
Insurance
Other expenses		 Consolidated
31 December 2023
$
31 December 2022
$
151,733
135,001
206,808
335,851
61,709
25,656
16,250
113,068
80,492
79,129
101,815
127,152
63,400
4,543
34,312
164,634
716,519
985,034		 Consolidated
31 December 2023
$
31 December 2022
$
151,733
135,001
206,808
335,851
61,709
25,656
16,250
113,068
80,492
79,129
101,815
127,152
63,400
4,543
34,312
164,634
716,519
985,034
985,034

NOTE 3: COST TO DISPOSE OF SUBSIDIARIES

During the half year ended 31 December 2022, the Company decided to close all of its subsidiaries in Burkina Faso and to surrender active permits to the respective authorities in-country. The total cost to dispose the entities amounted to $265,322. This includes legal cost, cost to compensate employees and other administration fees.

(a) Gayeri Resources SARL

On the 30 August 2022, Gayeri Resources SARL was dissolved. Gayeri Resources SARL was inactive and there was no profit or loss on disposal on 30 August 2022.

(b) Burkina Faso SARL, PD SARL and Progress Mineral SARL

The Company started the process of surrendering the Burkina Faso permits and closing all three subsidiaries during the half year ended December 2022. The dissolution of these subsidiaries is progressing and all assets within the subsidiaries are fully written off as at 31 December 2022.

During the half December 2023, a final payment of $6,940 was made in relation to closing of all Burkina Faso subsidiaries.

NOTE 4: PROPERTY, PLANT AND EQUIPMENT
Balance at the beginning of the period
Additions
Disposal
Depreciation expense		 Consolidated
31 December 2023
$
30 June
2023
$
878,692
811,526
2,514
493,844
(261)
(46,707)
(226,523)
(379,971)
654,422
878,692		 Consolidated
31 December 2023
$
30 June
2023
$
878,692
811,526
2,514
493,844
(261)
(46,707)
(226,523)
(379,971)
654,422
878,692
878,692

PREDICTIVE DISCOVERY LIMITED INTERIM FINANCIAL REPORT

11

PREDICTIVE DISCOVERY LIMITED AND CONTROLLED ENTITIES ACN 127 871 877

NOTE 5: EXPLORATION AND EVALUATION
EXPENDITURE
Carrying amount at beginning of year
Expenditure incurred
Expenditure acquired
Impairment of capitalised exploration		 Consolidated
31 December 2023
$
30 June
2023
$
87,201,892
37,376,965
15,705,844
49,824,927
-
-

-
-
102,907,736
87,201,892		 Consolidated
31 December 2023
$
30 June
2023
$
87,201,892
37,376,965
15,705,844
49,824,927
-
-

-
-
102,907,736
87,201,892
87,201,892

The Group has capitalised exploration expenditure of $102,907,736 (30 June 2023: $87,201,892). This amount includes costs directly associated with exploration and the purchase of exploration properties. These costs are capitalised as an exploration asset until assessment and / or drilling of the permit is complete and the results have been evaluated. These direct costs include employee remuneration, materials, permit rentals and payments to contractors. The expenditure is carried forward until such a time as the area moves into the development phase, is abandoned or sold. The ultimate recovery of the carrying value of exploration expenditure is dependent upon the successful development and commercial exploitation or, alternatively, sale of the interest in the tenements.

NOTE 6: TRADE AND OTHER PAYABLES
Trade and other payables
Foreign indirect tax provision1		 Consolidated
31 December 2023
$
30 June
2023
$
4,185,280
4,340,164
159,965
291,684
4,345,245
4,631,898		 Consolidated
31 December 2023
$
30 June
2023
$
4,185,280
4,340,164
159,965
291,684
4,345,245
4,631,898
4,631,898

1 Relates to accrued tax liability of prior years in Guinea.

PREDICTIVE DISCOVERY LIMITED INTERIM FINANCIAL REPORT

12

PREDICTIVE DISCOVERY LIMITED AND CONTROLLED ENTITIES ACN 127 871 877

Consolidated
31 December 2023
$
30 June
2023
$
NOTE 7: ISSUED CAPITAL
2,076,244,088 (30 June 2023: 2,067,244,088) Ordinary Shares
175,912,716
187,267,327
Share issue during the period
1,255,868
-
Share issue costs written off against issued capital
(1,804)
(11,354,611)
177,166,780
175,912,716
Shares
Shares
Issue Price
Value
No.
$
$
At 1 July 2023
2,067,244,088
-
187,267,327
Issue of shares in Placement
1,000,000
$0.15
150,000
Issue of shares from exercise of options
8,000,000
$0.112
896,000
Transfer from Reserves to share capital
209,868
Transaction costs
-
-
(11,356,415)
At 31 December 2023
2,076,244,088
-
177,166,780
Shares
Shares
Issue Price
Value
No.
$
At 1 July 2022
1,582,048,031
-
122,185,920
Issue of shares - Capital raising
16,081,697
$0.18
2,894,700
Issue of shares in Placement
99,359,878
$0.18
17,884,765
Issue of shares from exercise of options
74,531,461
$0.018
1,340,833
Issue of shares from exercise of options
2,500,000
$0.011
27,500
Issue of shares from exercise of options
2,415,618
$0.0986
238,180
Exercise of employee options to shares - cashless
5,595,351
-
-
Transfer from Reserves to share capital
401,046
Transaction costs
-
-
(9,247,241)
At 31 December 2022
1,782,532,036
-
135,725,703
Options
Listed
Options
Value
Unlisted
Options
Value
No.
$
No.
$
At 1 July 2023
-
-
81,000,000
5,175,544
Exercise of options to shares
-
-
-
-
Exercise of unlisted options to shares
-
-
(8,000,000)
(209,868)
Vesting from prior year
-
-
-
798,942
At 31 December 2023
-
-
73,000,000
5,764,618		 Consolidated
31 December 2023
$
30 June
2023
$
NOTE 7: ISSUED CAPITAL
2,076,244,088 (30 June 2023: 2,067,244,088) Ordinary Shares
175,912,716
187,267,327
Share issue during the period
1,255,868
-
Share issue costs written off against issued capital
(1,804)
(11,354,611)
177,166,780
175,912,716
Shares
Shares
Issue Price
Value
No.
$
$
At 1 July 2023
2,067,244,088
-
187,267,327
Issue of shares in Placement
1,000,000
$0.15
150,000
Issue of shares from exercise of options
8,000,000
$0.112
896,000
Transfer from Reserves to share capital
209,868
Transaction costs
-
-
(11,356,415)
At 31 December 2023
2,076,244,088
-
177,166,780
Shares
Shares
Issue Price
Value
No.
$
At 1 July 2022
1,582,048,031
-
122,185,920
Issue of shares - Capital raising
16,081,697
$0.18
2,894,700
Issue of shares in Placement
99,359,878
$0.18
17,884,765
Issue of shares from exercise of options
74,531,461
$0.018
1,340,833
Issue of shares from exercise of options
2,500,000
$0.011
27,500
Issue of shares from exercise of options
2,415,618
$0.0986
238,180
Exercise of employee options to shares - cashless
5,595,351
-
-
Transfer from Reserves to share capital
401,046
Transaction costs
-
-
(9,247,241)
At 31 December 2022
1,782,532,036
-
135,725,703
Options
Listed
Options
Value
Unlisted
Options
Value
No.
$
No.
$
At 1 July 2023
-
-
81,000,000
5,175,544
Exercise of options to shares
-
-
-
-
Exercise of unlisted options to shares
-
-
(8,000,000)
(209,868)
Vesting from prior year
-
-
-
798,942
At 31 December 2023
-
-
73,000,000
5,764,618		 Consolidated
31 December 2023
$
30 June
2023
$
NOTE 7: ISSUED CAPITAL
2,076,244,088 (30 June 2023: 2,067,244,088) Ordinary Shares
175,912,716
187,267,327
Share issue during the period
1,255,868
-
Share issue costs written off against issued capital
(1,804)
(11,354,611)
177,166,780
175,912,716
Shares
Shares
Issue Price
Value
No.
$
$
At 1 July 2023
2,067,244,088
-
187,267,327
Issue of shares in Placement
1,000,000
$0.15
150,000
Issue of shares from exercise of options
8,000,000
$0.112
896,000
Transfer from Reserves to share capital
209,868
Transaction costs
-
-
(11,356,415)
At 31 December 2023
2,076,244,088
-
177,166,780
Shares
Shares
Issue Price
Value
No.
$
At 1 July 2022
1,582,048,031
-
122,185,920
Issue of shares - Capital raising
16,081,697
$0.18
2,894,700
Issue of shares in Placement
99,359,878
$0.18
17,884,765
Issue of shares from exercise of options
74,531,461
$0.018
1,340,833
Issue of shares from exercise of options
2,500,000
$0.011
27,500
Issue of shares from exercise of options
2,415,618
$0.0986
238,180
Exercise of employee options to shares - cashless
5,595,351
-
-
Transfer from Reserves to share capital
401,046
Transaction costs
-
-
(9,247,241)
At 31 December 2022
1,782,532,036
-
135,725,703
Options
Listed
Options
Value
Unlisted
Options
Value
No.
$
No.
$
At 1 July 2023
-
-
81,000,000
5,175,544
Exercise of options to shares
-
-
-
-
Exercise of unlisted options to shares
-
-
(8,000,000)
(209,868)
Vesting from prior year
-
-
-
798,942
At 31 December 2023
-
-
73,000,000
5,764,618		 Consolidated
31 December 2023
$
30 June
2023
$
NOTE 7: ISSUED CAPITAL
2,076,244,088 (30 June 2023: 2,067,244,088) Ordinary Shares
175,912,716
187,267,327
Share issue during the period
1,255,868
-
Share issue costs written off against issued capital
(1,804)
(11,354,611)
177,166,780
175,912,716
Shares
Shares
Issue Price
Value
No.
$
$
At 1 July 2023
2,067,244,088
-
187,267,327
Issue of shares in Placement
1,000,000
$0.15
150,000
Issue of shares from exercise of options
8,000,000
$0.112
896,000
Transfer from Reserves to share capital
209,868
Transaction costs
-
-
(11,356,415)
At 31 December 2023
2,076,244,088
-
177,166,780
Shares
Shares
Issue Price
Value
No.
$
At 1 July 2022
1,582,048,031
-
122,185,920
Issue of shares - Capital raising
16,081,697
$0.18
2,894,700
Issue of shares in Placement
99,359,878
$0.18
17,884,765
Issue of shares from exercise of options
74,531,461
$0.018
1,340,833
Issue of shares from exercise of options
2,500,000
$0.011
27,500
Issue of shares from exercise of options
2,415,618
$0.0986
238,180
Exercise of employee options to shares - cashless
5,595,351
-
-
Transfer from Reserves to share capital
401,046
Transaction costs
-
-
(9,247,241)
At 31 December 2022
1,782,532,036
-
135,725,703
Options
Listed
Options
Value
Unlisted
Options
Value
No.
$
No.
$
At 1 July 2023
-
-
81,000,000
5,175,544
Exercise of options to shares
-
-
-
-
Exercise of unlisted options to shares
-
-
(8,000,000)
(209,868)
Vesting from prior year
-
-
-
798,942
At 31 December 2023
-
-
73,000,000
5,764,618
175,912,716
Value
$
187,267,327
150,000
896,000
209,868
(11,356,415)
2,076,244,088
-		 177,166,780
Shares
Issue Price
No.
$
1,582,048,031
-
16,081,697
$0.18
99,359,878
$0.18
74,531,461
$0.018
2,500,000
$0.011
2,415,618
$0.0986
5,595,351
-
-
-		 Value
122,185,920
2,894,700
17,884,765
1,340,833
27,500
238,180
-
401,046
(9,247,241)
1,782,532,036
-		 135,725,703
Value
Unlisted
Options
Value
$
No.
$
-
81,000,000
5,175,544
-
-
-
-
(8,000,000)
(209,868)
-
-
798,942
- -
73,000,000
5,764,618

PREDICTIVE DISCOVERY LIMITED INTERIM FINANCIAL REPORT

13

PREDICTIVE DISCOVERY LIMITED AND CONTROLLED ENTITIES ACN 127 871 877

NOTE 7: ISSUED CAPITAL (Continued)

Options
At 1 July 2022
Options lapsed
Exercise of options to shares
Exercise of unlisted options to
shares
Exercise of employee options to
shares - cashless
Issue of options
Vesting from prior year
At 31 December 2022		 Listed Options
Value
Unlisted
Options
Value
No.
$
No.
$
75,856,884
-
64,595,741
2,383,401
(1,325,423)
-
-
(74,531,461)
-
-
-
(4,915,618)
(195,868)
(9,000,000)
(205,175)
-
-
56,000,000
1,358,915
-
-
-
203,653
-
-
106,680,123
3,544,926

The options issued in the period from 1 July 2022 to 31 December 2022 were valued by applying a Black-Scholes option pricing model taking into account the terms and conditions upon which the options were granted. The following table lists the inputs to the model for the options:

  1. On 20 July 2022, 10,000,000 options at a price of $0.30 expiring 30 June 2026 were issued as part of the longterm employee incentive plan. The vesting conditions are as follows:

  2. (i) 25% of the options vest 12 months from the date of issue of the options provided the offeree remains a director of the company at the vesting date;

  3. (ii) 25% of the options vest 24 months from the date of issue of the options provided the offeree remains a director of the company at the vesting date;

  4. (iii) 50% of the options vest 36 months from the date of issue of the options provided the offeree remains a director of the company at the vesting date.

Option holder
Date of Issue
Number of options
Dividend yield (%)
Expected volatility (%)
Risk free interest rate (%)
Exercise price ($)
Expected life of options (years)
Share price at grant date ($)
Value per option ($)
Expensed during the half year		 Directors
20/07/2022
10,000,000
Nil
100%
2.89%
$0.30
4
$0.18
$0.110
140,485

  1. On 20 July 2022, the following Zero Exercise Price Options were issued:

  2. 4,000,000 options expiring 20 July 2025.

  3. (a) 1,250,000 of these options will vest upon announcement of an updated Mineral Resource estimate of at least 6 million ounces of gold at a minimum cut-off grade of 0.5g/t at the Bankan Gold Project;

  4. (b) 1,250,000 of these options will vest upon Board approval of a health, safety and environmental management plan prepared in consultation with suitably qualified and independent third party consultants;

  5. (c) 1,500,000 of these options will vest upon continuous service for 12 months.

  6. 4,000,000 options expiring 20 July 2026

  7. (a) 937,500 of these options will vest upon announcement of an Ore Reserve for the Bankan Gold Project of at least 3 million ounces of gold at a minimum cut-off grade of 0.5g/t at the Bankan Gold Project;

  8. (b) 937,500 of these options will vest upon announcement of a positive PFS for the Bankan Gold Project;

  9. (c) 625,000 of these options will vest upon achievement of the specified health, safety and environmental milestones approved by the Board for the period between 1 January 2022 and 31 December 2022;

  10. (d) 1,500,000 of these options will vest upon continuous service for 24 months.

PREDICTIVE DISCOVERY LIMITED INTERIM FINANCIAL REPORT

14

PREDICTIVE DISCOVERY LIMITED AND CONTROLLED ENTITIES ACN 127 871 877

NOTE 7: ISSUED CAPITAL (Continued)

  • 8,000,000 options expiring 20 July 2027

  • (a) 1,875,000 of these options will vest upon announcement of a Positive BFS for the Bankan Project;

  • (b) 1,875,000 of these options will vest upon announcement of the issue of an Exploitation Permit by the Guinea Ministry of Mines and Geology for the Bankan Gold Project;

  • (c) 1,250,000 of these options will vest upon achievement of the specified health, safety and environmental milestones for the period between 1 January 2023 and 31 December 2023;

  • (d) 3,000,000 of these options will vest upon continuous service for 36 months.

Option holder
Date of Grant
Number of options
Dividend yield (%)
Expected volatility (%)
Risk free interest rate (%)
Exercise price ($)
Expected life of options (years)
Share price at grant date ($)
Value per option ($)
Expensed during the half year		 Expiry 20/07/25
Expiry 20/07/26
Expiry 20/07/27
18/07/2022
18/07/2022
18/07/2022
4,000,000
4,000,000
8,000,000
Nil
Nil
Nil
90%
90%
90%
3.024%
3.024%
3.024%
$0.00
$0.00
$0.00
3
4
5
$0.18
$0.18
$0.18
$0.18
$0.18
$0.18
29,984
144,196
192,350
  1. On 07 November 2022, 19,500,000 options at a price of $0.30 expiring 30 June 2026 were issued as part of the long-term employee incentive plan. The vesting condition is for the employee to remain in employment with the Company for six months. The total value of the options were expensed in the financial year ended June 2023.
Option holder
Date of Issue
Number of options
Dividend yield (%)
Expected volatility (%)
Risk free interest rate (%)
Exercise price ($)
Expected life of options (years)
Share price at grant date ($)
Value per option ($)		 Consultant
07/11/2022
19,500,000
Nil
100%
2.89%
$0.30
4
$0.18
$0.102

PREDICTIVE DISCOVERY LIMITED INTERIM FINANCIAL REPORT

15

PREDICTIVE DISCOVERY LIMITED AND CONTROLLED ENTITIES ACN 127 871 877

NOTE 7: ISSUED CAPITAL (Continued)

  1. On 03 November 2022, the following Zero Exercise Price Options were issued:

  2. 2,625,000 options expiring 20 July 2025

  3. (a) 1,312,500 of these options will vest upon announcement of an updated Mineral Resource estimate of at least 6 million ounces of gold at a minimum cut-off grade of 0.5g/t at the Bankan Gold Project;

  4. (b) 1,312,500 on board approval of a health, safety and environmental management plan prepared in consultation with suitably qualified and independent third party consultants.

  5. 2,625,000 options expiring 20 July 2026

  6. (a) 984,375 of these options will vest upon announcement of an Ore Reserve for the Bankan Gold Project of at least 3 million ounces of gold at a minimum cut-off grade of 0.5g/t at the Bankan Gold Project;

  7. (b) 984,375 of these options will vest upon announcement of a positive PFS for the Bankan Gold Project;

  8. (c) 656,250 of these options will vest upon achievement of the specified health, safety and environmental milestones approved by the Board for the period between 1 January 2022 and 31 December 2022.

  9. 5,250,000 options expiring 20 July 2027

  10. (a) 1,968,750 of these options will vest upon announcement of a Positive BFS for the Bankan Project;

  11. (b) 1,968,750 of these options will vest upon announcement of the issue of an Exploitation Permit by the Guinea Ministry of Mines and Geology for the Bankan Gold Project;

  12. (c) 1,312,500 of these options will vest upon achievement of the specified health, safety and environmental milestones for the period between 1 January 2023 and 31 December 2023.

Option holder
Date of Grant
Number of options
Dividend yield (%)
Expected volatility (%)
Risk free interest rate (%)
Exercise price ($)
Expected life of options (years)
Share price at grant date ($)
Value per option ($)
Expensed during the half year		 Expiry 20/07/25
Expiry 20/07/26
Expiry 20/07/27
03/11/2022
03/11/2022
03/11/2022
2,625,000
2,625,000
5,250,000
Nil
Nil
Nil
90%
90%
90%
3.397%
3.397%
3.397%
$0.00
$0.00
$0.00
3
4
5
$0.15
$0.15
$0.15
$0.15
$0.15
$0.15
107,877
78,858
105,192

PREDICTIVE DISCOVERY LIMITED INTERIM FINANCIAL REPORT

16

PREDICTIVE DISCOVERY LIMITED AND CONTROLLED ENTITIES ACN 127 871 877

NOTE 8: SEGMENT INFORMATION

The Group has identified its operating segments based on the internal reports that are reviewed and used by the Board of Directors (chief operating decision makers) in assessing performance and determining the allocation of resources.

The Group operates as four segments, which are gold exploration and evaluation within Australia, Cote D’Ivoire, Guinea, Burkina Faso.

The Group is domiciled in Australia. Segment revenues are allocated based on the country in which the customer is located. Segment assets are allocated to countries based on where the assets are located.

Half Year Ended 31 December 2023
Other income
Expenses/FX differences
Loss for the period
At 31 December 2023
Current assets
Plant and equipment
Right of Use Asset
Exploration expenditure
Intercompany loans
Current liabilities
Right of Use Liability
Net Assets
Half Year Ended 31 December 2022
Other income
Expenses/FX differences
Loss for the period
At 30 June 2023
Current assets
Plant and equipment
Right of Use Asset
Exploration expenditure
Intercompany loans
Current liabilities
Net Assets		 Gold
Corporate
$
Burkina
Faso
$
Cote
D’Ivoire
$
Guinea
$
Consolidated
$
768,187
-
-
-
768,187
(2,544,050)
-
-
(1,228,695)
(3,772,745)
(1,775,863)
-
-
(1,228,695)
(3,004,558)
21,307,579
-
-
4,748,766
26,056,345
-
-
-
654,422
654,422
-
-
-
236,331
236,331
-
-
-
102,907,736
102,907,736
114,140,145
-
-
(114,140,145)
-
(803,672)
-
-
(3,541,573)
(4,345,245)
-
-
-
(233,100)
(233,100)
134,644,052
-
-
(9,367,563)
125,276,489
360,739
-
-
156
360,895
(5,682,416)
209,609
615,590
(4,042,055)
(8,899,272)
(5,321,677)
209,609
615,590
(4,041,899)
(8,538,377)
44,351,625
-
-
1,043,918
45,395,543
1,210
-
-
877,482
878,692
-
-
-
312,188
312,188
-
-
-
87,201,892
87,201,892
90,717,226
-
-
(90,717,226)
-
(493,288)
-
-
(4,451,801)
(6,548,463)
134,576,773
-
-
(5,733,547)
128,843,226

PREDICTIVE DISCOVERY LIMITED INTERIM FINANCIAL REPORT

17

PREDICTIVE DISCOVERY LIMITED AND CONTROLLED ENTITIES ACN 127 871 877

NOTE 9: CONTROLLED ENTITIES

PERCENTAGE PERCENTAGE
COUNTRY OF **OWNED (%) *** **OWNED (%) ***
INCORPORATION 31 DEC 2023 30 JUNE 2023
Subsidiaries:
Predictive Discovery Cote D’Ivoire Pty Ltd Australia 100% 100%
Ivoirian Resources Pty Ltd Australia 20% 20%
Bougouni Resources Pty Ltd Australia 100% 100%
Kenieba Resources Pty Ltd Australia 100% 100%
Kita Resources Pty Ltd Australia 100% 100%
Tinkisso Pty Ltd Australia 100% 100%
Manoko Resources Pty Ltd Australia 100% 100%
Predictive Discovery SARL Cote D’Ivoire 100% 100%
Ivoirian Resources SARL Cote D’Ivoire 20% 20%
Predictive Discovery Mali SARL Mali 100% 100%
Kindia Resources SARLU Guinea 100% 100%
Mamou Resources SARLU Guinea 100% 100%
Tinkisso Resources SARLU Guinea 100% 100%
*Percentage of voting power is in proportion to ownership

NOTE 10: CONTINGENT LIABILITIES AND CONTINGENT ASSETS Contingent Assets

According to Guinean tax law, value added tax (VAT) paid in relation to the Company’s Guinea tenements may be recovered from the Guinea tax authorities if these tenements progress to the development phase. No asset has been recognised in the Consolidated Statement of Financial Position as there is currently no certainty that these tenements will reach the development phase or that the total VAT will be fully recovered in this event. However, a contingent asset exists of $4,284,714 at 31 Dec 2023 (June 2023: $3,643,956) relating to total VAT paid to date. A total of $698,618 VAT was paid to the Guinea tax authorities during the half-year period to 31 December 2023 which was expensed in the Statement of Comprehensive Income and foreign exchange gain of $57,860 relating to the VAT was recognised in the Statement of Comprehensive Income.

PREDICTIVE DISCOVERY LIMITED INTERIM FINANCIAL REPORT

18

PREDICTIVE DISCOVERY LIMITED AND CONTROLLED ENTITIES ACN 127 871 877

NOTE 11: RELATED PARTY TRANSACTIONS

Transactions between related parties are on normal commercial terms and conditions no more favourable than those available to other parties unless otherwise stated.

Other than intercompany loans and remuneration of Key Management Personnel, there were no other related party transactions during the half year.

NOTE 12: EVENTS AFTER THE END OF THE REPORTING PERIOD

Subsequent to the half-year end, results were announced in February 2024 for 131 holes for 9,355m of exploration drilling at Argo and near-resource.[6] At Argo, drilling at the high-priority Sounsoun target intersected four mineralised structures over a 700m strike length so far (of the 1.8km auger anomaly). Best new results included 2m @ 7.76g/t from 38m, 6m @ 2.11g/t from 11m, 6m @ 1.62g.t from 158m and 6m @ 1.54g/t from 20m. Near-resource drilling delivered further positive results from the SB and SEB targets. At SB, best results included 3m @ 8.28g/t from 2.8m, 7m @ 1.51g/t from 19m, 9m @ 1.38g/t from 244m and 8m @ 1.12g/t from 195m. The best result at SEB was 2.9m @ 14.50g/t from 194m.

There are no other matters or circumstances which have arisen since the end of the half year which significantly affected or could significantly affect the operations of the Group, the results of those operations, or the state of affairs of the Group in future financial years.

6 ASX Announcement – Sounsoun, SB and SEB Targets advanced by Latest Drilling (1 February 2024).

PREDICTIVE DISCOVERY LIMITED INTERIM FINANCIAL REPORT

19

PREDICTIVE DISCOVERY LIMITED AND CONTROLLED ENTITIES ACN 127 871 877

DIRECTORS’ DECLARATION

The directors of the Company declare that:

  1. The interim financial statements and notes, as set out on pages 6 to 19, are in accordance with the Corporations Act 2001 and:

  2. (a) comply with Australian Accounting Standard 134 Interim Financial Reporting and the Corporations Regulations 2001 and other mandatory professional reporting requirements; and

  3. (b) give a true and fair view of the financial position as at 31 December 2023 and of the performance for the half year ended on that date of the Group;

  4. In the directors' opinion, there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable.

This declaration is made in accordance with a resolution of the Board of Directors.

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Andrew Pardey Managing Director 8 March 2024

PREDICTIVE DISCOVERY LIMITED INTERIM FINANCIAL REPORT

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INDEPENDENT AUDITOR’S REVIEW REPORT

TO THE MEMBERS OF PREDICTIVE DISCOVERY LIMITED

Report on the Half-Year Financial Report

Conclusion

We have reviewed the half-year financial report of Predictive Discovery Limited (the company) and controlled entities (consolidated entity) which comprises the consolidated statement of financial position as at 31 December 2023, the consolidated statement of profit or loss and other comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows for the half-year ended on that date, and notes to the financial statements, including material policy information and the directors’ declaration of the consolidated entity comprising the company and the entities it controlled at 31 December 2023, or during the half year.

Based on our review, which is not an audit, we have not become aware of any matter that makes us believe that the accompanying half-year financial report of Predictive Discovery Limited is not in accordance with the Corporations Act 2001 including:

  • (a) giving a true and fair view of the consolidated entity’s financial position as at 31 December 2023 and of its performance for the half-year ended on that date; and

  • (b) complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001.

Basis for Conclusion

We conducted our review in accordance with ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity. Our responsibilities are further described in the Auditor’s Responsibilities for the Review of the Financial Report section of our report.

Independence

We are independent of the company in accordance with the auditor independence requirements of the Corporations Act 2001 and the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (including Independence Standards) (the Code) that are relevant to our audit of the annual financial report in Australia. We have also fulfilled our other ethical responsibilities in accordance with the Code.

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Directors’ Responsibility for the Interim Financial Report

The directors of the company are responsible for the preparation of the half-year financial report that gives a true and fair view in accordance with the Australian Accounting Standards and the Corporations Act 2001 and for such internal controls as the directors determine is necessary to enable the preparation of the half-year financial report that gives a true and fair view and is free from material misstatement, whether due to fraud or error.

Auditor’s Responsibilities for the Review of the Financial Report

Our responsibility is to express a conclusion on the half-year financial report based on our review. ASRE 2410 requires us to conclude whether we have become aware of any matter that makes us believe that the half-year financial report is not in accordance with the Corporations Act 2001 including: giving a true and fair view of the consolidated entity’s financial position as at 31 December 2023 and its performance for the half year ended on that date; and complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporation Regulations 2001.

A review of a half-year financial report consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Australian Auditing Standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

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PKF PERTH

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ALEXANDRA CARVALHO AUDIT PARTNER

8 MARCH 2024 WEST PERTH, WESTERN AUSTRALIA

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AUDITOR’S INDEPENDENCE DECLARATION

TO THE DIRECTORS OF PREDICTIVE DISCOVERY LIMITED

In relation to our review of the financial report of Predictive Discovery Limited for the half year ended 31 December 2023, to the best of my knowledge and belief, there have been no contraventions of the auditor independence requirements of the Corporations Act 2001 or any applicable code of professional conduct.

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PKF PERTH

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ALEXANDRA CARVALHO

AUDIT PARTNER

8 MARCH 2024 WEST PERTH, WESTERN AUSTRALIA

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