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Mining Capital
EPIC: PDI
Market: ASX
52-week High/Low: A$0.11 / A$0.03
Sector: General Mining - Gold
Market Cap: A$7.56M

Predictive Discovery Ltd (ASX:PDI) is a gold exploration company focused in West Africa, and has additional interests in Australia.

Predictive Discovery Ltd

www.predictivediscovery.com

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Predictive Discovery Ltd Snapshot

Predictive Discovery Limited (ASX:PDI) was established in late 2007 to explore for gold and uranium.  The company is focusing principally on exploration for gold in West Africa with one additional project for gold in Australia.  The company has a distinctive technological capability, known as Predictore®, that sets it apart from its peers.

Burkina Faso Projects

The Burkina Faso projects are all located within the Birimian gold belts in West Africa. As Figure 1 shows, these belts contain numerous gold discoveries, a number of which are in production. Many areas of active artisanal mining remain only lightly explored. As a result, further exploration driven by continuing investor and mining company interest is likely to produce more gold discoveries in the years to come.


Figure 1: Major West African gold deposits within the Birimian gold belt (green indicates areas of volcanics and sediments and pink indicates areas of granite). Burkina Faso is outlined in yellow. PDI project locations are denoted by the star symbols.

(click here for more information on this project)


Bonsiega Project, Burkina Faso

The Bonsiega Permit Group covers nine exploration permits totalling 1,045 km2 in area with approximately 100km of strike length in the same greenstone belt which hosts the Samira Hill Mine in Niger. A tenth permit, Bassieri, which covers an additional 74km2, is close to being granted. Most of the permits contain artisanal workings and/or significant gold geochemical anomalies.

The Bonsiega permits were acquired either by direct application in PDI’s name or through  separate agreements with third parties. The Company holds 100% ownership of the core permits which carry almost all of the known, drilled gold mineralisation. It is also earning in either 95% or 100% of three peripheral permits.

In earlier exploration, PDI discovered a series of areally large power auger gold geochemical anomalies some of which were tested them with large reverse circulation (RC) drilling programs. A series of prospects were discovered containing ore grade and width gold intercepts. These included Bongou, Dave, Fouli, Laterite Hill, Tamboana and Prospect 71, all of which are 100% owned by PDI. In 2012-13, PDI focused most of its attention on the higher grade prospects, especially Bongou. Several other areas were also tested during the field season with RC drilling, bedrock sampling and/or ground geophysics in order to enlarge the prospect pipeline.


(click here for more information on this project)


Bangaba, Burkina Faso

The Bangaba Project in Eastern Burkina Faso (Figure 1) covers areas of extensive artisanal mining. PDI is earning a 95% interest in the 128 km2 Bangaba exploration permit by making a series of staged payments in cash and shares.
PDI estimates that artisanal miners have produced several tonnes of gold at Bangaba over the past 30 years. Artisanal workings are located on two structures on the north-west and south-east contacts of a granodiorite-diorite body (Figure 2). A large artisanal mining site is located at Solna.

RC and diamond drilling programs at the two major sites of artisanal mining, Solna and Tambiri, have encountered a series of high grade intercepts in primary mineralisation including: 6m at 20g/t Au, 2m at 56g/t Au, 5m at 17g/t Au, 7m at 13g/t Au and 5.6m at 16g/t Au. No supergene enrichment is evident in the near surface so the high gold grades may persist to considerable depths.


Figure 1: Locality Plan - PDI permits in Eastern Burkina Faso


Figure 2: Bangaba Permit showing location of Tambiri, Tambiri South and Solna Prospects. Approximate location of bedrock geochemical anomalies is outlined in pink ellipses.


(click here for more information on this project)


Tyekanyebi, Burkina Faso

The Tyekanyebi permit application is located within a parallel greenstone belt north-west of the Bonsiega project, the Manga-Sebba Belt. Selection of the area followed the PredictoreTM  methodology. The Tyekanyebi area is a structural target with no known workings and extensive soil cover.


Victoria, Australia


PDI commenced exploration in Victoria in 2010. The focus was on discovering new Stawell-like gold deposits. Such deposits may be both large and high grade, like the Stawell orebody itself. Stawell-type deposits differ from the more typical Bendigo-style quartz reefs in that gold distribution is much more predictable, thereby enabling the application of modern methods of resource calculation and mining. In contrast, the Bendigo-style of deposit is generally characterised by very "nuggetty" gold distribution which means that is very difficult to predict the grade and width of the mineralisation even from close spaced drilling.

At this stage, the Company holds only one Exploration Licence, west of Ballarat - Cape Clear (EL 5434).


(click here for more information on this project)


Cote d'Ivoire Projects

PDI holds four highly prospective exploration permits in Cote D’Ivoire: Kokumbo, Ferkessedougou, Boundiali and Kounahiri, covering a total area of 1,533km2 (Figure 1). These permits were selected by a country-wide analysis of geophysical and geological data using the same Predictore® methods which were used to select the Company’s ground in Burkina Faso.

Joint Venture with Toro Gold Limited

PDI signed a Heads of Agreement (HOA) with Toro Gold Limited (Toro) on the Company's entire Cote D'Ivoire ground holding on 22nd September 2014. Subject to successful completion of legal due diligence by Toro, terms of the agreement include:

  • Toro will spend US$1 million to earn 51% in PDI's Cote D'Ivoire subsidiary, Predictive Discovery Cote D'Ivoire SARL (Predictive CI), which holds all of PDI's Cote D'Ivoire ground (Figure 6);

  • Toro will pay US$200,000 in cash to PDI on completion of legal due diligence and execution of a full Joint Venture document within 90 days of signature of the HOA;

  • Assuming that Toro earns the initial 51%, Toro will make further cash payments of up to US$100,000 in the following 24 months;

  • After Toro has earned 51%, PDI may choose to contribute or dilute in stages. If PDI chooses to dilute, Toro can earn 65% by spending US$2.5 million and up to 90% by sole funding through to a full feasibility study;

  • Toro's minimum commitment is US$400,000 expenditure within 12 months; and

  • An exploration program covering the first US$1 million of expenditure will be agreed between PDI and Toro, including planned drilling in 2015.

Toro is a private gold exploration and development company focused in Africa. It is led by a team with a successful track record of discovery, development, operation and corporate transactions. Toro is well funded, and has strong institutional shareholder support, including the African Lion 3 Fund, Resource Capital Funds, Macquarie Bank and Sprott.  Toro's flagship project is the Mako deposit in Senegal with a published JORC 2012-compliant Resource Estimate of 1.4 million ounces at 1.75g/t Au. Mako is currently the subject of a Definitive Feasibility Study. This joint venture is Toro's first investment into Cote D'Ivoire.


Figure 1: Location of Cote D'Ivoire permits on geology background



Last updated 17th December 2015.


Paul Roberts
Managing Director
BSc, MSc, FAIG

Paul Roberts has had a long and successful history in mineral exploration management and mine geology in Australia, West Africa and Peru where he has been associated with a number of discoveries including the Henty gold deposit in Tasmania, and more recently the Bongou gold deposit in Burkina Faso. He has been the CEO of PDI since its inception in 2007. He is the architect of PDI's business model and is responsible for assembling PDI's project portfolio and West African team.



Phillip Jackson
Non-Executive Chairman
B. Juris (LLB), MBA, FAICD
 
Phillip Jackson is an Australian lawyer and Company Director based at Perth, Australia. He is admitted to practice as a Barrister and Solicitor. He has had a long career in the petroleum and mining industries along with extensive experience as a public company director, particularly in the resources sector. He is a founding director and Chairman of Aurora Minerals Limited and Peninsula Mines Limited (both listed on ASX). He is also a founding director of Scotgold Resources Limited (listed on AIM and ASX).



Phil Henty
Non-Executive Director
BA Acc, Dip SIA, F Fin

Phil Henty has extensive experience in the Australian securities markets. He has worked for nearly thirty years in the stockbroking and investment markets. His experience covers the equities, derivatives and fixed interest markets and most aspects of the securities industry, from dealing and advice through to management, capital raising, investment management and private investment.



Tim Markwell
Non-Executive Director
BSc (Hons), GradDipAppFin, MAusIMM
 
Mr Markwell is a geologist and has worked for 20 years in the resources and finance industries. He is currently African Lion 3 Limited’s manager based in Melbourne. Previously Mr Markwell worked for the LinQ Resources Fund as an investment manager and as a resource analyst for Perth broker DJ Carmichael. He has also worked as a geologist for BHP-Billiton, Golder Associates, Anaconda Nickel, Great Central Mines and Reynolds.



Last updated 17th December 2015.

Predictive Discovery Ltd
Level 2, 33 Ord Street
West Perth WA 6005

Telephone: +61 8 9216 1000
Fax: +61 8 9481 0411

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