Predictive Discovery Ltd (ASX:PDI) has received binding commitments to raise up to $1.75 million through a placement of shares at a price of 1 cent per share.
The company will also undertake a share purchase plan to raise up to $500,000 on the same terms as the placement.
Cornerstone commitment by Capital DI
The placement was backed by a $250,000 cornerstone commitment by Capital DI and was also supported by a number of other large shareholders, as well as a number of new professional and sophisticated investors.
Upon close of the placement it is expected that Capital DIs shareholding will increase to 14.08%.
Drilling activity kicking off next month in Cote DIvoire
Predictive managing director Paul Roberts said: “The company is delighted with the strong interest shown in this capital raising.
“We are very happy to again enjoy Capital DIs strong support of Predictives West African exploration through this placement.
“We also thank existing shareholders who have supported the offer, as well as a number of new shareholders that we welcome to our register.
“The company is now well placed to continue work over its highly prospective landholdings in Guinea and Cote DIvoire, which will include drilling activity kicking off next month in Cote DIvoire at our exciting Ouarigue North gold discovery on the Ferkessedougou North Project.
“We look forward to further positive news flow in the months ahead as we prepare for an initial drilling campaign at our 100%-owned Projects in Guinea within the exciting Siguiri Basin which hosts Anglogolds large Siguiri Mine (+10Moz), and advance drilling on our Cote DIvoire Joint Venture with Resolute Limited.”
100%-owned tenement locations and gold deposits in the Siguiri Basin on geological map
Funds raised will be used to advance Predictives 100%-owned Guinea portfolio and mRead More – Source
