- Predictive Discovery (PDI) shares have been placed in a trading halt shortly after the company announced an encouraging gold discovery at its Bankan Project in Guinea
- The trading halt is set to remain in place until May 17, when a formal announcement regarding a planned capital raise is made to market
- It comes promptly after PDI revealed further results from power auger drills at the Bankan Project
- Notable assays included a 12-metre hit at 9.84g/t gold find from four metres and a 16-metre section at 2.02g/t gold from four metres
- Prior to the trading halt Predictive Discovery shares last traded at 8.8 cents.
Predictive Discovery (PDI) shares have been placed in a trading halt shortly after the company announced an encouraging gold discovery at its Bankan Project in Guinea.
The company said it will be undertaking a capital raising and has requested a trading halt to allow it time to formalise the details.
The trading halt is expected to be lifted on or before May 17 when further details regarding the raise are released to market.
While Predictive has made no clear indication as to how much it is looking to raise or how it plans the spend the funds, the announcement comes promptly after PDI revealed further results from power auger drills at its Bankan Project.
Notable assays included a 12-metre hit at 9.84g/t gold find from four metres and a 16-metre section at 2.02g/t gold from four metres.
Predictive affirms the auger drilling continues to identify evidence of widespread gold in saprolite beneath shallow lateritic cover across the Bankan Project, providing numerous targets for follow-up air core drilling.
Prior to the trading halt Predictive Discovery shares last traded at 8.8 cents.