QUEBEC CITY, July 14, 2026 (GLOBE NEWSWIRE) -- Predictive Discovery Limited (ASX:PDI, TSX:PDI) (“PDI” or the “Company”) is pleased to announce it will
The content in this section is supplied by for the purposes of distributing press releases on behalf of its clients. Postmedia has not reviewed the content.is pleased to announce it will make a US$10 million investment in West African-focused exploration company Awalé Resources Limited for a strategic shareholding of approximately 12.3% of Awalé .
Awalé is focused on discovering large-scale gold and gold-copper deposits in north-western Côte d’Ivoire. Awalé’s flagship Odienné Project comprises a large and strategic 2,346kmheld in a joint venture with a subsidiary of Newmont Corporation , which is sole-funded by Newmont and managed by Awalé .32.4Mt at 1.64g/t AuEq. for 1.71Moz AuEq. Drilling is ongoing with the aim to expand and upgrade the current Mineral Resource and test additional targets within the broader joint venture tenure.
Initial technical, economic, environmental and social studies for Odienné have also commenced. Awalé’s 100%-owned exploration permits and applications across the broader Odienné district host multiple untested and early-stage targets, providing district-scale growth potential. Awalé will use proceeds from PDI’s strategic investment towards advancing exploration across these 100%-owned permits.
“Awalé is an emerging West African gold exploration and development company, with a large and strategic landholding in Côte d’Ivoire, considered to be one of West Africa’s premier mining jurisdictions alongside Guinea. Awalé’s management team has done an outstanding job of advancing the Odienné Project to a point where it is showing real potential as a future gold mine of significance, with excellent scope for continued growth through expansion drilling and new discoveries.
We look forward to supporting Awalé with PDI’s expertise in exploration, mine development and operations. ” PDI will fund its investment in Awalé by cash on hand. This investment does not affect funding requirements for the development of its Bankan Gold Project in Guinea.
PDI and Awalé have entered into a binding subscription agreement, whereby PDI has agreed to subscribe for 16,642,352 common shares of Awalé at an issue price of C$0.85 per common share for a total investment of approximately C$14.15 million . The issue price of C$0.85 represents a premium of approximately 10% to Awalé’s five-day volume weighted average price on the TSX Venture Exchange ending on 10 July 2026, reflecting the strategic nature of PDI’s investment.
PDI does not currently own any Awalé shares. Upon completion of the strategic investment, PDI will acquire ownership or control and direction over 16,642,352 common shares, representing a shareholding in Awalé of approximately 12.3% on an undiluted basis and before the potential exercise of participation rights held by certain existing Awalé shareholders.
The strategic investment is expected to close in late July 2026, subject to the satisfaction of certain closing conditions by the parties, including receipt of TSXV final approval and all other necessary regulatory approvals, and the execution of an investor rights agreement between PDI and the Company. The common shares acquired by PDI will be subject to a hold period of four months plus a day following close of the strategic investment, in accordance with applicable Canadian securities laws and the policies of the TSXV.
In connection with the strategic investment, PDI will enter into an investor rights agreement with Awalé, which grants PDI: the ability to maintain its shareholding in Awalé through participation and top-up rights; and certain information rights with respect to Awalé and its exploration projects. The parties will also form a joint technical advisory committee.
In the event that PDI’s shareholding in Awalé is reduced to less than 10% on an undiluted basis, the above rights will be suspended, and the investor rights agreement will terminate if PDI’s shareholding is less than 10% for a period of 12 consecutive months. The strategic investment is being made for investment purposes and PDI intends to review its investment in Awalé on a continuing basis.
PDI may increase or decrease its beneficial ownership, control, direction or economic exposure over securities of Awalé, dependent on factors including market and other conditions. A copy of the early warning report to be filed by PDI in connection with the strategic investment described above will be available on SEDAR+ under Awalé’s profile. This news release is issued under the early warning provisions of the Canadian securities legislation.
Neither the Toronto Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. PDI is a leading West African gold production and development company, combining a portfolio of high quality assets with a proven execution capability and strong financial platform.
PDI’s asset portfolio is anchored by the Kiniero Gold Mine in Guinea, which commenced production in late 2025, and the Nampala Gold Mine in Mali, which has been operating since 2017. These production assets provide momentum and strong cash flows as the Company advances its growth plans. PDI’s long-life growth asset is the Tier-1 Bankan Gold Project in Guinea, one of the largest undeveloped gold projects in Africa.
Bankan is approaching construction-ready status with expected production of ~250,000oz per annum over more than 12 years. Once Bankan is in production, PDI is targeting annual production exceeding 400,000oz by 2029 from its low-cost mining hub in Guinea, leveraging the proximity and synergies of the Kiniero and Bankan assets.
PDI is at a pivotal stage in its evolution, growing into a mid-tier, multi-mine West African gold producer, with a clear focus on sustainably developing its portfolio to create long-term value for shareholders and stakeholders. This announcement does not constitute an offer to sell or the solicitation of an offer to buy any securities. No securities regulatory authority has approved or disapproved the contents of this announcement.
The securities referred to in this announcement have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, or to, or for the account or benefit of, U.S. persons, except pursuant to an exemption from, or in a transaction not subject to, U.S. registration requirements. This announcement contains forward‑looking statements and forward‑looking information within the meaning of applicable securities laws.
Forward‑looking statements include, but are not limited to, statements regarding gold production and guidance, expectations regarding exploration and development activities and potential, expectations regarding permitting and development funding for the Bankan Project, and statements regarding the strategic investment, including closing and the timing thereof, Awalé’s use of proceeds and PDI’s anticipated shareholding in Awalé. Forward‑looking statements are based on assumptions and expectations as at the date of this announcement and are subject to known and unknown risks and uncertainties that may cause actual results to differ materially.
Forward‑looking statements are generally identified by words such as “will”, “expect”, “anticipate”, “may”, “could”, “should”, “plan”, “estimate”, “intends” and similar expressions. Although PDI believes that the expectations reflected in the forward-looking statements are reasonable, undue reliance should not be placed on forward-looking statements since no assurance can be provided that such expectations will prove to be correct.
Forward-looking statements are based on information available at the time those statements are made and/or good faith belief of the officers and directors of PDI as of that time with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the forward-looking statements. Forward-looking statements involve numerous risks and uncertainties.
Factors that could cause actual results to differ materially include, but are not limited to, commodity price fluctuations, foreign exchange movements and general economic conditions, geopolitical, social and regulatory risks, operating and cost risks, the speculative nature of exploration and project development including the risks of obtaining necessary approvals, licenses, permits and funding, diminishing quantities or grades of reserves, changes to the legal and regulatory framework within which PDI operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation and other risks described in PDI’s public disclosure documents filed on ASX and on SEDAR+. Forward‑looking statements speak only as of the date they are made.
Except as required by applicable law, PDI undertakes no obligation to update or revise any forward‑looking statements contained in this announcement. All forward-looking statements contained in this announcement are expressly qualified in its entirety by the above cautionary statement. This announcement refers to PDI having expected production of more than 400,000oz per annum by 2029.
The production targets in respect of the Bankan Project were released to ASX on 25 June 2025 in an announcement by PDI titled “Bankan DFS Confirms Outstanding Project Economics”. The production targets in respect of Robex’s Kiniero Project were released to ASX on 22 August 2025 in an announcement by Robex titled “Amendment to Kiniero Gold Project Technical Report”.
PDI confirms that all the material assumptions underpinning the production targets in the previous announcements continue to apply and have not materially changed. For full details of the Mineral Resource estimate, including detailed assumptions and methodology, refer to Awalé’s news release dated 19 May 2026 and NI 43-101 Technical Report dated 3 July 2026, which are available on Awalé’s website at
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