Predictive Discovery (ASX:PDI) has completed its $69.2 million strategic private placement backed by the Lundin family and Zijin Mining Group Co (SEHK:2899).
The cleansing notices relating to the allotted shares were lodged on the Australian Securities Exchange (ASX) on 10 February and 12 February 2025 respectively.
As reported by Mining.com.au last week, Predictive received binding commitments from the Lundin family and Hong Kong Stock Exchange-listed Zijin Mining through its subsidiary and non-operating division to raise the equity.
The capital was raised via a single tranche strategic private placement at an issue price of $0.265 per share.
The issue price is of no discount to the 31 January trading price and is a 1.9% premium to the five-day volume weighted average price of $0.260 and a 4.4% premium to the 30-day VWAP as of the same date.
Lundin invested $45.1 million to obtain a 6.5% shareholding in the company. Zijin subscribed for an investment of $24.1 million to obtain a 3.5% shareholding.
Proceeds from the placement are to be used to advance the Bankan Gold Project’s Definitive Feasibility Study (DFS), progress environmental and social programs, continue regional exploration programs, and conduct selected early development activities.
Write to Adam Orlando at Mining.com.au
Images: Predictive Discovery
