PDI and Robex announce West African gold merger
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The news: Australian gold developer Predictive Discovery Limited and Canadian gold producer Robex Resources have announced a merger, with PDI to acquire all Robex shares through a statutory plan of arrangement.
The numbers: PDI will issue approximately 2,115 million shares to Robex shareholders at an exchange ratio of 8.667 PDI shares per Robex share. The combined entity will have an implied market capitalisation of $2,350 million on a fully diluted in-the-money basis.
The merged company, to be called MergeCo, is expected to produce over 400,000 ounces of gold annually by 2029, with combined mineral resources of approximately 9.5 million ounces and ore reserves of approximately 4.5 million ounces.
The context: The merger combines PDI's Bankan Project in Guinea, advancing towards a final investment decision in Q2 2026, with Robex's Kiniero Project (also in Guinea) and Nampala mine in Mali. The Kiniero Project is scheduled to commence production in December 2025.
The proximity of the Bankan and Kiniero projects creates a tier-1 mining hub in Guinea with potential operational synergies. The transaction is expected to close in December 2025 or early 2026.
MergeCo will be led by Andrew Pardey as non-executive chairman and Matthew Wilcox as chief executive.
What they said: "By combining two of West Africa's largest and most advanced gold development projects and leveraging the proven track record of both management teams in Africa, we are creating a company that positions Guinea to become one of Africa's top five gold producers," said Andrew Pardey, chief executive officer and managing director of PDI.
"This combination marks a transformative step for both companies, creating a platform with the scale, assets and capability to deliver long-term value," said Matthew Wilcox, chief executive officer and managing director of Robex.
The source: Robex and PDI announcement
