Predictive Discovery Limited (ASX: PDI) is a gold exploration company, established in 2007, based out of West Perth, Australia with operations in West Africa. The company has a broad portfolio of projects and holds an interest in several exploration permits covering a total area of approximately 949 km2 in Burkina Faso; major regions of Cote D’Ivoire and Guinea as well as one exploration license in Victoria, Australia.
The company recently completed 1,960 m of trenching over the last two months, at the Ferkessedougou North Project (Toro JV) in Cote D’Ivoire with noteworthy results. The works began in November 2017 with 5,147 m of trenching accomplished until now. A significant elliptical shaped gold mineralised intrusive granitic body spanning 160 m in length and 90 m in breadth has been discovered amidst this latest exploration.
Meanwhile, the company also released an update on its activities for the quarter ended December 31st, 2019 highlighting a couple of milestones and successful drilling programs.
During the period, Predictive acquired highly-prospective grounds in Guinea spanning 300 km2 and Burkina Faso spanning 623 km2 covering some of the most yielding greenstone belts in West Africa. As per the results of the infill soil sampling at Boundiali North (Toro JV, Cote D’Ivoire), the anomalous gold zone is now extended to over 14 km. Besides, the 2,000 m diamond drill program at Kokoumbo Project (Toro JV, Cote D’Ivoire) also had the best intercepts including KOD01 with 4.5 m at 4.22g/t Au from 57 m including 1 m at 11.15g/t Au and KOD026 with 9 m at 2.08g/t Au from 69 m.
As for the corporate affairs, Progress Minerals Inc extended AUD 515,000 as an initial payment to the company for its 30% equity stake in the Bobosso Project (Cote D’Ivoire), relieving it from future costs/liabilities. At the end of December 2018, Predictive Discovery stood well-funded with cash of $ 1.5 million.
According to the cash flow statement for the quarter ended December 31st, 2018, there were operating cash burns valued at AUD 439,000 resulting from payments for exploration, evaluation, and staff costs. There were no financing activities as such, and the investing activities resulted in cash inflows amounting to AUD 515,000 primarily due to proceeds from tenements. The total net cash and cash equivalents at the end of the quarter was recorded at AUD 1.48 million. The company estimates cash outflows for the next quarter to be around AUD 475,000.
PDI is listed on the ASX with a market capitalisation of AUD 3.54 million and ~236.14 million outstanding shares. With the close of the trading session on February 14th, 2019, the stock last traded at a market price of AUD 0.013, down 13.333%, indicating an intra-day loss of AUD 0.002. The stock has generated a YTD return of 7.14%.
Looking ahead, Predictive is fully utilising exposure to ~6,000 km2 of potentially profitable grounds in the West African Birimian greenstone belts through its fully-owned as well as joint Venture gold projects. Its prospect generator model ensures a pipeline of continuous and early stage exploration opportunities along with partnerships with other industry experts and respected companies to fund ongoing exploration as well as realise shareholder value.
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