- Gold explorer Predictive Discovery (PDI) enters a trading halt ahead of an upcoming capital raise
- It is currently not known how much the company is aiming to raise or where the funds will be spent
- The halt means company shares will be paused until Monday, May 30, or when further details are announced
- Last week, the company commenced a 60,000-metre diamond and reverse circulation drilling program at it Bankan gold project in Guinea’s Siguiri Basin
- Predictive Discovery last traded at 20 cents per share on Wednesday, May 25
Predictive Discovery (PDI) has entered a trading halt ahead of an upcoming capital raise.
There is no information on the market about how much the company is aiming to raise or were it plans to spend the money.
Under the halt, PDI shares will be paused until Monday, May 30, or when further details about the raise are released to the market.
PDI is an Australian-based exploration and development company that has gold projects in West Africa.
Earlier this month, the company commenced a 60,000-metre diamond and reverse circulation drilling program at it Bankan gold project in Guinea’s Siguiri Basin.
There are currently six drill rigs on site working to update the project’s resource estimate, which is expected early in the third quarter of 2022.
In addition to this news, PDI continues to build an experienced management team to develop the mine.
Recent appointments include Pierre Low as Chief Financial Officer, Marlyatou Balde as Country Manager, Andre Pieters as ESG Manager, and Chris Boreham as Project Feasibility Manager.
“We are delighted to welcome our four new senior leaders who will support our goal of developing and building Guinea’s next gold mine,” Managing Director Andrew Pardey said last week.
“With the asset’s proximity to Haut Niger National Park and our commitment to local engagement, we will continue to develop an 18-month best practice biodiversity management program.”
Predictive Discovery last traded at 20 cents per share on Wednesday, May 25.