Predictive Discovery Boosts CEO Matthew Wilcox's Pay Following Robex Merger and Expanded Gold Production in West Africa

CEO Matthew Wilcox’s Remuneration Raised Following Strategic Robex Merger

On 21 July 2026, Predictive Discovery’s Board of Directors approved an increase in the total remuneration package for Managing Director and CEO Matthew Wilcox, following the company’s annual remuneration review. This adjustment recognises PDI’s pivotal transformation after completing its merger with Robex Resources Inc in early 2026, which significantly expanded the company’s operational scale and strategic position in West Africa’s gold mining sector. The remuneration package rewards Mr Wilcox for his expanded responsibilities and the achievement of PDI’s strategic goals focused on safe, low-cost production growth, reserve development, and shareholder value creation.

As detailed in Schedule 1 of the announcement, Mr Wilcox’s base salary is set at AU$900,000 per annum, with total fixed remuneration (TFR) of AU$930,000 per annum. The TFR includes base pay plus statutory superannuation contributions paid monthly in cash, along with packaged benefits. The company stated this remuneration aligns with market benchmarks for similar roles in comparable multi-mine gold producers, reflecting PDI’s scale and operational complexity.

PDI’s Transition from Explorer to Multi-Mine Gold Producer in West Africa

The remuneration increase mirrors PDI’s evolution into a leading gold production and development company in West Africa following the Robex merger. The company now operates two producing gold mines forming the core of its portfolio. The Kiniéro Gold Mine in Guinea began production in late 2025, marking a major milestone. Meanwhile, the Nampala Gold Mine in Mali has been operational since 2017, providing steady cash flows that support expansion and development. Together, these assets establish PDI as an active producer with a stable operational base and financial strength to pursue growth.

Beyond current operations, PDI’s long-life growth asset is the Tier-1 Bankan Gold Project in Guinea, considered one of Africa’s largest undeveloped gold projects. Bankan is nearing construction-ready status and is expected to produce about 250,000 ounces of gold annually over more than 12 years once operational. The proximity and operational synergies between Kiniéro and Bankan in Guinea offer a strategic foundation for future production growth. Upon Bankan’s production start, PDI targets annual output exceeding 400,000 ounces by 2029 from its low-cost mining hub in Guinea, leveraging geographic and operational advantages.

Expanded CEO Role Justifies Remuneration Increase

The remuneration adjustment corresponds to the broader scope of responsibilities assumed by Matthew Wilcox as PDI transformed from a development-stage company to a multi-mine, multi-jurisdictional gold producer. Before the Robex merger, PDI’s operations were more limited. The integration of Robex’s established Nampala mine and PDI’s Kiniéro asset significantly increased executive management complexity, requiring oversight of two producing mines in different West African countries while advancing the Bankan project.

The CEO’s role now includes managing safe production across dispersed sites, cost control over multiple mining hubs, reserve and resource management across assets, and leading the Bankan development program—a large-scale, strategically vital project. The Board views the remuneration increase as appropriate recognition for delivering PDI’s core objectives: safe operations, cost optimisation, reserve growth, and sustainable shareholder value. These responsibilities are far more complex than those typical of earlier-stage companies, and the pay adjustment aligns with compensation for comparable leadership roles in similar-sized gold mining firms competing globally for talent.

Robex Merger Integration and Operational Platform Expansion Completed

The early 2026 merger with Robex Resources Inc marked a defining moment for PDI, combining Robex’s Nampala Gold Mine in Mali with PDI’s development assets to create an immediate revenue-generating platform. The merger provided instant production and cash flow while preserving long-term growth potential through Bankan. Robex had operated Nampala since 2017, establishing operational performance and cash generation. Integrating this mature operation with PDI’s development projects transformed the business from a pre-revenue explorer into a multi-mine producer with mineral reserves and operational expertise across jurisdictions.

The merger also brought valuable technical and operational expertise. Managing producing mines requires different skills than advancing development projects. Combining Robex’s operational management with PDI’s development capabilities created a platform able to operate mature mines, develop new assets, and explore for resources simultaneously. This integrated platform underpins PDI’s goal to exceed 400,000 ounces of annual production by 2029. The CEO’s leadership in orchestrating integration, maintaining mine performance, and advancing Bankan represents a more complex and critical role than previously existed.

Bankan Gold Project Nears Construction-Ready Milestone

The Bankan Gold Project in Guinea is PDI’s key growth asset and central to its strategic path. The company describes Bankan as one of Africa’s largest undeveloped gold projects, approaching construction readiness after extensive exploration, resource definition, engineering, and feasibility studies. The Definitive Feasibility Study, released on 25 June 2025, confirmed strong project economics supporting a construction decision. Bankan is expected to produce approximately 250,000 ounces annually over a mine life exceeding 12 years, significantly boosting PDI’s production profile.

Advancing Bankan toward construction is a major value driver for shareholders and a critical part of CEO Wilcox’s responsibilities. Successfully managing final permitting, financing, and construction phases of a Tier-1 West African gold project requires expert project management, stakeholder engagement, technical oversight, and financial planning. The close proximity of Bankan to Kiniéro offers operational synergies to optimise costs and efficiency. The CEO’s role in delivering Bankan on schedule and budget, while managing Kiniéro and Nampala operations, reflects the expanded executive scope recognised by the Board’s remuneration adjustment.

Production Goals and Consolidated West African Mining Hub Strategy

PDI’s strategy focuses on building a consolidated, low-cost West African mining hub centered in Guinea, where Kiniéro and Bankan are located. Geographic concentration provides operational and cost advantages such as shared infrastructure, personnel, supply chains, and logistics. The company has publicly targeted annual consolidated production exceeding 400,000 ounces by 2029 once Bankan is operational. This target significantly exceeds current production from Kiniéro and Nampala alone, highlighting Bankan’s expected contribution. Detailed production targets for Bankan (around 250,000 ounces annually) and Kiniéro (per the 22 August 2025 technical report amendment) underpin this consolidated goal.

The CEO’s responsibilities include ensuring Kiniéro and Nampala meet production and cost expectations; maintaining safety and environmental standards; advancing Bankan toward production; and optimising the consolidated operations to achieve the low-cost profile publicly committed to. PDI confirms all material assumptions supporting production targets remain unchanged, demonstrating confidence in meeting guidance. This multi-year execution challenge justifies the enhanced executive remuneration.

Governance and Remuneration Disclosure Compliance

In line with ASX Listing Rule 3.16.4, the material terms of Mr Wilcox’s employment agreement are disclosed in Schedule 1 of the announcement. Additional remuneration details will be included in the 2026 Remuneration Report within PDI’s 2026 Annual Report. Shareholders received a Notice of General Meeting on 21 July 2026 with further disclosures and any required approvals regarding remuneration. As a dual-listed entity on ASX and TSX, PDI complies with both Australian and Canadian securities regulations, providing Canadian shareholders equivalent notices per applicable laws.

This disclosure framework ensures transparency and governance standards for executive compensation. Schedule 1 offers shareholders clarity on pay structure, while the Remuneration Report will detail benchmarking, performance metrics, and rationale. Including remuneration matters in the Notice of General Meeting aligns with best practices requiring shareholder oversight of executive pay decisions.

West African Gold Market Context and Competitive Positioning

PDI’s operations and growth strategy are situated within West Africa’s prominence as a major gold-producing region. Guinea and Mali are established gold jurisdictions with accessible deposits and mining infrastructure, attracting significant international investment. PDI’s asset portfolio—combining established production at Nampala, new output at Kiniéro, and development potential at Bankan—positions the company to benefit from West Africa’s ongoing importance in global gold supply. Targeting a low-cost production profile through its Guinea hub strategy provides a competitive edge in global markets where costs impact profitability and capital returns.

The company’s emphasis on safe, low-cost production reflects key operational priorities amid global gold producer competition. Operating in West Africa entails operational, regulatory, and geopolitical risks that demand experienced management. The scarcity of senior gold mining executives skilled in West African operations justifies the competitive remuneration set by the Board. This adjustment helps retain leadership capable of executing PDI’s strategic goals in a competitive global talent market.

Material Risks and Uncertainties Impacting Strategic Execution

While focusing on remuneration reflecting expanded duties, PDI’s forward-looking statements include cautionary notes on risks that may affect strategic execution. These include commodity price volatility, which critically impacts gold producer revenues, and foreign exchange fluctuations affecting Australian dollar valuations of operations conducted in West African currencies and US dollars.

Additional risks involve geopolitical, social, and regulatory challenges in West African jurisdictions; operational and cost risks influencing the targeted low-cost production profile; speculative exploration and development uncertainties; and risks related to obtaining approvals, licenses, and permits for Bankan. Environmental risks such as extreme weather, recruitment and retention challenges, industrial relations, and potential litigation are also noted. The company warns actual outcomes may differ materially from forward-looking statements, advising caution in relying on production guidance. These risks are key considerations for investors assessing PDI’s strategic outlook and the complexities of executing its expanded operational and development plans that underpin the CEO remuneration increase.