Mining company Perseus Mining has acquired a 13.82% equity interest in mineral development company Predictive Discovery – developer of the Bankan Gold Project in Guinea. A strategic equity investment, the acquisition aligns with Perseus Mining’s objectives to pursue opportunities that deliver material growth for the company.
The Bankan Gold Project – situated in the north east province of the country – has estimated gold reserves of 57.7 million tons. A completed pre-feasibility study earlier this year highlighted the project as one of the largest gold discoveries in West Africa.
“Predictive’s Bankan Gold Project is an attractive gold development project located in a jurisdiction that has an increasing presence in the gold mining industry. We are looking forward to working with the Predictive management team and board to help realize the potential of the Bankan Gold Project,” stated Perseus’s Chairman and CEO Jeff Quartermaine.
In addition to the equity stake, Perseus holds an economic interest of 3.45% in Predictive Discovery through cash-settled equity swaps.
