ASX-listed Predictive Discovery has received binding commitments for a placement to raise up to $1,750,000 through a placement of up to 175 million new shares.

The placement was backed by a $250,000 cornerstone commitment by Capital DI and was also supported by several other large shareholders, as well as several new professional and sophisticated investors.

Upon close of the Placement it is expected that Capital DI’s shareholding will increase to 14.08%.

Predictive Discovery will undertake a Share Purchase Plan to raise up to $500,000 on the same terms as the Placement.

“We are delighted with the strong interest shown in this capital raising. We are very happy to again enjoy Capital DI’s strong support of Predictive’s West African exploration through this placement,” comments MD, Paul Roberts.

Predictive Discovery granted new permit in Cote d’Ivoire

“We also thank existing shareholders who have supported the offer, as well as a number of new shareholders that we welcome to our register.

“Predictive Discovery is now well placed to continue work over its highly prospective landholdings in Guinea and Cote D’Ivoire, which will include drilling activity kicking off next month in Cote D’Ivoire 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 Anglogold’s large Siguiri Mine (+10 Moz), and advance drilling on our Cote D’Ivoire Joint Venture with Resolute.”