PDI and Robex Merge to Forge West Africa’s Next Gold Powerhouse
Predictive Discovery Limited and Robex Resources Inc. have agreed to merge, creating a major mid-tier gold producer in West Africa with combined production expected to exceed 400,000 ounces annually by 2029.
- Merger of equals to create a leading West African gold producer
- Combined mineral resources of approximately 9.5 million ounces of gold
- Expected production surpassing 400,000 ounces per annum by 2029
- Dual listing planned on ASX and TSX Venture Exchange
- Transaction leverages Robex’s Kiniero cash flows to de-risk Bankan development
A Strategic Union in West African Gold
In a significant move for the West African mining sector, Predictive Discovery Limited (PDI) and Robex Resources Inc. have announced a merger of equals that promises to reshape the regional gold production landscape. The combined entity is poised to become one of the continent’s next mid-tier gold producers, leveraging two of the largest and most advanced gold projects in the region.
The merger brings together PDI’s flagship Bankan Project in Guinea, which is advancing towards a final investment decision, and Robex’s Kiniero Project, also in Guinea, currently under construction and on track for first gold production by the end of 2025. Additionally, Robex’s Nampala Project in Mali adds further depth to the portfolio.
Scale, Resources, and Production Outlook
Combined, the two companies boast mineral resources of approximately 9.5 million ounces of gold, inclusive of ore reserves estimated at around 4.5 million ounces. Production is forecast to exceed 400,000 ounces per annum by 2029, with Bankan expected to contribute roughly 272,000 ounces and Kiniero about 155,000 ounces annually. The Nampala mine is projected to produce close to 46,000 ounces in 2025.
This scale not only enhances operational flexibility but also positions the merged company to capitalize on economies of scale, improved access to capital, and a stronger strategic presence in West Africa’s gold mining sector.
Financial and Operational Synergies
A key feature of the transaction is the leveraging of cash flows from Robex’s Kiniero Project to de-risk the development funding for PDI’s Bankan Project. The ongoing exercise of Robex’s in-the-money warrants and options further strengthens the financial foundation of the combined entity.
The merger also establishes a tier-1 mining hub within Guinea, with the Bankan and Kiniero projects located within a 30-kilometre radius. This proximity offers potential for coordinated development, operational efficiencies, and shared infrastructure, which could translate into cost savings and enhanced exploration upside.
Leadership and Market Positioning
The combined company will be led by a seasoned management team, with Andrew Pardey, currently CEO of PDI, stepping into the role of Non-Executive Chairman, and Matthew Wilcox, CEO of Robex, appointed as CEO and Managing Director. This leadership blend brings together proven expertise in West African mining operations and development.
Following completion, expected by December 2025 or early 2026 pending regulatory and shareholder approvals, the company will maintain its listing on the Australian Securities Exchange and seek a dual listing on the TSX Venture Exchange. This enhanced capital markets profile could attract broader investor interest and potentially trigger a share price re-rating.
Community and Economic Impact
Beyond the corporate and financial implications, the merger is positioned to drive economic growth in Guinea by strengthening the local labour force, enhancing critical infrastructure, and fostering lasting partnerships within the communities where the projects operate. This social dimension underscores the companies’ commitment to responsible and sustainable development in West Africa.
Bottom Line?
As the merger progresses toward completion, all eyes will be on how this new gold powerhouse navigates integration and capitalises on its promising West African footprint.
Questions in the middle?
- How will the combined company manage integration risks across two countries with distinct regulatory environments?
- What are the prospects for further exploration upside around the Bankan and Kiniero projects?
- How might dual listing on ASX and TSX-V influence investor appetite and share liquidity?
