Predictive raises cash for African exploration
PERTH (miningweekly.com) – ASX-listed Predictive Discovery has announced an 8-for-21 renounceable rights issue aimed at raising some A$2.6-million.
The rights issue will be undertaken at a price of 4.2c a share, which represented a discount of 34% to Predictive’s 30-day volume weighted average share price.
One free listed option would be attached to every new share subscribed for, with an exercise price of 6c each and expiring at the end of November 2019.
The company told shareholders on Thursday that funds would be used to advance an exploration strategy in West Africa, as well as to supply working capital.
“Predictive’s objective is to make multiple large gold discoveries in the highly prospective West African Birimian greenstone belts. Over the last two years, we have transformed the company from a conventional gold explorer with a single, major project focus to a project generator,” said chairperson Phillip Jackson.
“Therefore, we are now operating with a business model which maximizes the likelihood of making profitable gold discoveries by maintaining a large portfolio of highly prospective ground while minimising overall exploration costs through joint venturing our more advanced projects with well funded, mine development-focused partners.”
Predictive has some 7 000 km2 of ground position in Cote d’Ivoire and Burkina Faso, which contain numerous gold intercepts and emerging new discoveries. The company has six applications for new greenfield gold exploration permits in place in Cote d’Ivoire and is also readying to apply for new permits in Burkina Faso.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation