Predictive Discovery Limited has unveiled the findings of its Pre-Feasibility Study (PFS) for the Bankan Gold Project in Guinea, heralding it as a substantial opportunity for global development.
Andrew Pardey, the Managing Director, hailed the release of the PFS as a momentous occasion, marking four years since the NEB discovery was announced. The project has evolved into a cornerstone for the company, boasting a mineral resource of 5.38 million ounces over this time. Pardey emphasized the project’s transformative potential, projecting an average annual production of 269,000 ounces of gold over a 12-year mine life. The financial outlook is robust, with a post-tax NPV5% nearing $1.4 billion and an IRR of 42%, even at conservative gold price assumptions.
Moreover, the completion of the PFS represents a significant de-risking of the project’s technical and financial viability. Pardey stressed the importance of advancing the permitting process, with the PFS and ESIA serving as critical documents for securing an Exploitation Permit from the Government of Guinea.
Predictive Discovery is deeply committed to its environmental and social responsibilities. Pardey underscored the completion of the ESIA as a pivotal milestone, highlighting the absence of fatal flaws and the implementation of robust mitigating measures.
The Bankan Project holds immense promise for local communities and Guinea at large, offering opportunities for employment, economic development, and conservation efforts. Pardey expressed confidence in the project’s potential to yield lasting positive impacts.
Looking ahead, Predictive Discovery aims to enhance the project’s technical and financial outcomes through continued exploration and optimization efforts. Pardey
emphasized the company’s dedication to systematically pursuing near-resource and regional exploration programs to expand the resource base and extend the mine life beyond the current projection.
Acknowledging the collaborative effort of the PDI team, consultants, government departments, and local communities, Pardey expressed gratitude for their support in advancing the Bankan Project.
In addition to the PFS, Predictive Discovery highlighted key achievements, including the Maiden Probable Ore Reserve estimate and the delineation of two distinct project cases: the ore reserve case and the extension case. The extension case, incorporating inferred mineral resources, offers significant potential to prolong the mine life and enhance project economics.
Financially, the project demonstrates compelling metrics, with a post-tax NPV5% exceeding $668 million and an IRR of 25.4% at conservative gold price assumptions. Environmental and social responsibility remains a priority, with robust design mitigants incorporated to address identified risks.
Moving forward, Predictive Discovery is poised to initiate a Definitive Feasibility Study (DFS) and pursue an Exploitation Permit, while continuing exploration activities to drive the project towards sustainable development and value creation.
The release of the PFS marks a significant milestone in the journey of the Bankan Gold Project, underscoring its potential to contribute to Guinea’s economic growth and environmental stewardship.
Source: Mining Review
