Perseus takes a stake in Predictive Discovery
ASX- and TSX-listed Perseus Mining, which owns and operates gold mines in Ghana, Côte d'Ivoire and Tanzania, has acquired a 13.82% interest in Predictive Discovery from London-listed mining services company Capital for $31.2-million.
Predictive is an ASX-listed company and owns the Bankan gold project, in Guinea.
“As a deliberate element of our capital management strategy, Perseus continues to assess and, where considered commercially appropriate, deploy our significant reserves of cash and bullion that totalled $587-million at June 30, to pursue opportunities that will deliver material growth for our shareholders in coming years.
"Predictive’s Bankan 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 realise the potential of the project," comments Perseus chairperson and CEO Jeff Quartermaine.
"Predictive Discovery has been an excellent investment for Capital, as well as an excellent client for Capital's drilling business. As Predictive moves towards permitting and then construction, we see this as the right time to recycle this investment back into the broader business, particularly to lower the group's debt levels," says Capital CEO Peter Stokes.
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