Guinea: Predictive Discovery expects gold resource increase at Bankan as Blackrock invests

By David Whitehouse
Posted on Thursday, 23 June 2022 06:00

Drilling at the Bankan project in Guinea. Photo supplied.

Australian exploration and mining company Predictive Discovery anticipates that the gold resource at its Bankan project in Guinea will increase as further tests are carried out, managing director Andrew Pardey tells The Africa Report.

The inferred resource at the site is 3.65m ounces of gold, which by itself is comfortable enough to justify development, Pardey says. Bankan has the potential to become a Tier One mine which can remain in production for between 15 and 20 years, adds Pardey, a former CEO of Egyptian gold mine operator Centamin. “This resource is only going to continue to grow.”

Predictive Discovery, which trades on the Australian stock exchange, in May raised A$55m in an oversubscribed placement which drew support from institutions. Among the investors is Blackrock, which at the end of May reported a stake of seven per cent.