PDI's $10M buys 12.3% of Awalé, giving exposure to the Newmont-JV Odienné gold project in Côte d'Ivoire ahead of late-July closing.
Alpha Score of 82 reflects strong overall profile with strong momentum, strong value, strong quality, moderate sentiment.
Predictive Discovery Ltd. will pay C$14.15 million (US$10 million) for a 12.3% stake in Awalé Resources, gaining exposure to a Côte d'Ivoire gold project that Newmont Corp. is sole-funding through a joint venture.
Awalé's flagship Odienné Project covers 2,346 square kilometers across seven permits. The Newmont JV holds an initial inferred resource of 32.4 million tonnes grading 1.64 grams per tonne gold equivalent. That resource sits across the BBM and Charger deposits, with additional ounces at Empire. Drilling is underway to expand the resource, and early economic and environmental studies have started.
PDI Managing Director Matthew Wilcox said Awalé's team has advanced Odienné to a point where it shows "real potential as a future gold mine of significance." PDI will bring its own exploration and mine development expertise, he said.
PDI will buy 16.6 million common shares at C$0.85 each, a 10% premium to Awalé's five-day volume-weighted average price on the TSX Venture Exchange. The company will use cash on hand; the investment does not affect funding for its Bankan Gold Project in Guinea, where it is targeting 250,000 ounces per year over 12 years.
The deal is expected to close in late July, subject to TSX Venture Exchange approval and the signing of an investor rights agreement. That agreement gives PDI participation and top-up rights to maintain its stake, plus information rights and a seat on a joint technical committee. Those rights suspend if PDI's holding falls below 10% and terminate if it stays under that threshold for 12 months.
Awalé will use the proceeds to advance exploration on its 100%-owned permits outside the Newmont JV. The company's district-scale land position includes multiple untested targets.
Newmont, which carries an AlphaScala Alpha Score of 63 (Moderate), holds 61% of the JV and is earning to 75% by sole-funding. Awalé manages the program.
The common shares PDI acquires will be subject to a four-month hold period under Canadian securities law.
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