Predictive Discovery Limited (PDI) is pleased to announce that it has signed an agreement with Stratos Resources Limited (SAT), enabling PDI to move to 100% ownership of the four Burkina Faso permits that constitute the ElDore Joint Venture. These permits cover 621km2 and include the Laterite Hill Gold Field, a 20km long zone of gold mineralisation, in which PDI has obtained excellent drill results over eight separate zones of gold mineralisation with a cumulative strike length of at least 8km to date.
PDI will purchase SAT’s entire shareholding in BPL for the consideration of 13 million Directors PDI shares. At the same time, SAT will make a cash payment to PDI of $140,000 in partial repayment of outstanding cash calls from the Joint Venture. Also, as part of this transaction, SAT and its Directors are contributing $160,000 to the shortfall in PDI’s recent entitlement issue which closed on 20th July 2012.
Predictive Discovery Limited (PDI) was established in late 2007 to explore for gold and uranium. The Company is focused principally on exploration for gold in West Africa with one additional gold project in Australia. PDI has a distinctive technological capability, known as PredictoreTM, which is designed to increase drill targeting efficiency thereby reducing ore discovery cost. The Company’s major focus is in Burkina Faso, West Africa where it has assembled a substantial regional ground position totalling 1,544km2 and is exploring for large open-pittable gold ore deposits.
Tags: acquisition, Exploration, mining, PDI, Predictive Discovery
