Perseus Mining has acquired a 13.82 per cent, $63 million stake in Predictive Discovery, an emerging Australian mineral development company with a global portfolio.
Predictive’s key asset is the Bankan gold project, a pre-development project in Guinea, West Africa.
Bankan has a reported probable ore reserve of 57.7 million tonnes at 1.64 grams per tonne of gold, for a total 3.05 million ounces of gold.
“As a deliberate element of our capital management strategy, Perseus continues to assess and, where considered commercially appropriate, deploy our significant reserves of cash and bullion that totalled $US587 million at June 30 2024, to pursue opportunities that will deliver material growth for our shareholders in coming years,” Perseus chair and chief executive officer Jeff Quartermaine said.
“Predictive’s Bankan gold project is an attractive gold development project located in a jurisdiction that has an increasing presence in the gold mining industry.
“We are looking forward to working with the Predictive management team and board to help realise the potential of the Bankan gold project.”
Perseus quickly assuaged any curiosity over whether the company plans to make a bid for Predictive, confirming no takeover discussions are being had and that Perseus has “no current intention to acquire control or make a takeover offer for Predictive.”
“Perseus is currently focused on the development of our Nyanzaga gold project in Tanzania,” Quartermaine said.
Perseus plans to bring Nyanzaga online in early 2027, confirming its plans in the meantime are to continue driving results at its Yaouré, Sissingué and Edikan gold mines in Africa.
The three mines produced a total of 509,977 ounces of gold in the 2023–24 financial year.
Subscribe to Australian Mining and receive the latest news on product announcements, industry developments, commodities and more.
