PDI Commits US$10 Million for 12.3% Stake in Awalé’s Côte d'Ivoire Gold Venture

PDI Expands West African Footprint with Strategic Stake in Awalé

Predictive Discovery Limited (ASX:PDI, TSX:PDI) is stepping up its West African ambitions with a US$10 million strategic investment in Awalé Resources Limited (TSXV:ARIC), securing an approximate 12.3% undiluted stake. The move marks PDI’s first entry into Côte d'Ivoire, a jurisdiction gaining traction alongside Guinea as a premier gold mining destination.

Awalé’s flagship asset, the Odienné Project, spans a vast 2,346km² across seven exploration permits. Notably, 797km² of this land is held in a joint venture with Newmont Corporation, where Newmont currently holds 61% and is sole-funding exploration to earn up to 75%. This JV hosts an initial inferred mineral resource estimate of 32.4 million tonnes grading 1.64g/t gold equivalent, equating to 1.71 million ounces AuEq across three deposits: BBM, Charger, and Empire.

Advancing Exploration and Development in Côte d'Ivoire

Drilling campaigns are actively underway to expand and upgrade the existing resource base, while preliminary technical, economic, environmental, and social studies have commenced to assess the project's viability. Beyond the JV area, Awalé’s wholly owned permits encompass multiple early-stage targets, offering district-scale growth potential. PDI’s investment proceeds will specifically fund exploration activities across these 100%-owned permits, aiming to unlock further discoveries.

Matthew Wilcox, PDI’s Managing Director and CEO, highlighted Awalé’s progress: "The Odienné Project shows real potential as a significant future gold mine, with excellent scope for growth through expansion drilling and new discoveries. PDI looks forward to leveraging its expertise in exploration and mine development to support Awalé’s advancement."

Deal Structure and Strategic Implications

The binding subscription agreement has PDI acquiring 16,642,352 common shares of Awalé at C$0.85 each, reflecting a 10% premium to Awalé’s recent volume-weighted average price on the TSX Venture Exchange. The total investment of approximately C$14.15 million (about US$10 million) will be funded from PDI’s cash reserves, leaving its development funding for the Bankan Gold Project in Guinea untouched.

The transaction is subject to regulatory approvals, including final TSXV consent, and is expected to close in late July 2026. Shares acquired by PDI will be subject to a four-month plus one day hold period under Canadian securities laws. Additionally, an investor rights agreement will grant PDI participation and top-up rights to maintain its stake, along with information access and a seat on a joint technical advisory committee. These rights will lapse if PDI’s shareholding falls below 10% for 12 consecutive months.

This strategic investment complements PDI’s existing West African portfolio, which includes the recently commenced Kiniero Gold Mine in Guinea and the Nampala Gold Mine in Mali, both generating strong cash flow. It also aligns with PDI’s growth ambitions to exceed 400,000 ounces of annual gold production by 2029, supported by the near-construction-ready Bankan Gold Project. The move into Côte d'Ivoire diversifies PDI’s regional exposure and adds a promising exploration pipeline through Awalé’s assets.