Slide 1: West Africa's Next Tier-1 Gold Mine Presentation
For personal use only West Africa’s Next BMO Conference Tier-1 Gold Mine Presentation February 2025 ASX:PDI Predictive Discovery | West Africa’s Next Tier-1 Gold Mine www.predictivediscovery.com 1
Slide 2: Forward Looking Statements, Disclaimer and Compliance
Forward Looking Statements, Disclaimer and Compliance Forward Looking Statements and Important Notice This report contains forecasts, projections and forward-looking information. Although the Company believes that its expectations, estimates and forecast outcomes are based on reasonable assumptions
Slide 3: Company Highlights
Company Highlights Rapidly advancing the Bankan Gold Project in Guinea, West Africa’s next tier 1 gold mine 5.38Moz Mineral Resource, including 3.05Moz Ore Reserve(1) For personal use only Leading African gold development asset. PFS outlined 269Kozpa average production over 12-year mine life(2) High
Slide 4: Corporate Overview
Corporate Overview Major Shareholders(1) Capitalisation(2) Ordinary Shares Outstanding 2,612m (17.9%) Unlisted Options 125m (13.1%) Fully-Diluted Shares Outstanding 2,737m For personal use only (5.8%) Closing Price (21-Feb-25) A$0.335 Undiluted Market Capitalisation A$875m | US$551m (5.4%) Pro-forma
Slide 5: Guinea: West Africa's Next Major Gold Region
Gold Iron Ore Bauxite Graphite Guinea: West Africa’s Next Major Gold Region Attracting major global investments to an established and growing mining industry Lefa Siguiri (Production) (Production) o Stable and mature mining jurisdiction Sangaredi Bankan (PFS) 207Kozpa Au 221Kozpa Au • Uninterrupted
Slide 6: Bankan Gold Project Overview
For personal use only Largest current Bankan Gold Project Overview African gold development project Predictive Discovery | West Africa’s Next Tier-1 Gold Mine www.predictivediscovery.com 6
Slide 7: Permitting
Permitting ESIA approved and ECC issued, a major de-risking milestone for the Bankan Gold Project o Comprehensive Environmental & Social Impact Assessment (ESIA) completed in April 2024 following >2 years of baseline work; no fatal flaws For personal use only o ESIA scope designed to accommodate Pro
Slide 8: Bankan PFS Highlights
Bankan PFS Highlights(1) Large-scale open pit and underground gold project with robust economics, and potential for further upside EXCEPTIONAL LARGE HIGH-GRADE LOW CAPITAL LOW COST & ROBUST POST-TAX For personal use only PRODUCTION PROFILE MINERAL RESOURCE INTENSITY HIGH MARGIN NPV AND IRR 269Kozpa
Slide 9: Resource Base Benchmarking
Resource Base Benchmarking Bankan ranks as a top-tier gold asset globally, and one of the best gold development projects in Africa from a grade and resource perspective Select Global Top-tier Gold Mines & Projects – Mineral Resource (Moz Au) & Gold Grade (g/t Au) 6 High grade; Small High grade; Larg
Slide 10: Production and Capex Benchmarking
Production and Capex Benchmarking Bankan has the highest annual production and one of the lowest capital intensities of advanced African gold development projects(1) Top-tier African Gold Projects – Production (Kozpa Au)(2) 269 265 240 234 Median: 170koz Au 223 For personal use only 173 167 139 162
Slide 11: Bankan 3.05Moz Maiden Ore Reserve & Mining Inventory
Bankan 3.05Moz Maiden Ore Reserve & Mining Inventory Overall conversion of ~74% of the Indicated Mineral Resource into Probable Ore Reserve o Maiden Probable Ore Reserve estimate of 57.7Mt @ 1.64g/t for 3.05Moz(1) NEB Deposit of contained gold across the NEB open pit, NEB underground(2) and BC open
Slide 12: Key Optimisations & Further Works
Key Optimisations & Further Works RESOURCE NEAR-RESOURCE POWER COST GEOTECHNICAL MINING COST OPTIMISATIONS 1 EXPLORATION 2 OPTIMISATIONS 3 OPTIMISATIONS 4 OPTIMISATIONS 5 The currently under Inferred resources at NEB, construction Linsan- Conservative assumptions Streamlining of existing Significant
Slide 13: Current Bankan Project Activities
For personal use only Fast-tracking Current Bankan Project Activities development of West Africa’s next tier-1 gold mine Predictive Discovery | West Africa’s Next Tier-1 Gold Mine www.predictivediscovery.com 13
Slide 14: Definitive Feasibility Study (DFS) Update
Definitive Feasibility Study (DFS) Update Advancing on schedule and on target to be completed during 2H 2025 Study Team PDI study team in place, led by Henk Diederichs and Peter Consultants Key DFS consultants in place O’Bryan & For personal use only Associates Geotechnical and hydrogeological drill
Slide 15: Current Drilling Programs
Current Drilling Programs Extensive exploration and drilling programs are aiming to define maiden Mineral Resources at multiple targets and develop additional targets For personal use only RESOURCE DEVELOPMENT Resource development drilling at Fouwagbe & Sounsoun. Maiden Mineral Resource estimates at
Slide 16: Regional Upside – Argo
Regional Upside – Argo Promising results from multiple target areas E o Multiple specific target areas plus 23 line kms of anomalous auger trends to be tested D o Maiden Mineral Resource estimates planned for Fouwagbe and Sounsoun in late Q1 2025 For personal use only Mineralisation in a series of S
Slide 17: Regional Upside – Bokoro South Targets
Regional Upside – Bokoro South Targets Regional exploration extending south onto the Bokoro permit, with promising initial results o Extensive auger drilling and first pass aircore program completed to test structural and geophysical targets o Further auger and aircore drilling planned following wet
Slide 18: Near-Resource Exploration Upside
Near-Resource Exploration Upside Potential for multiple satellite deposits within 5km of NEB o Targets defined from shallow drilling and geophysics surveys For personal use only o Positive results from multiple targets confirms extent of gold mineralisation in the NEB and BC area o Maiden Mineral Re
Slide 19: Indicative Activities & Timeline
Indicative Activities & Timeline Driving towards permitting on the back of PFS and ESIA completion 2024 2025 2026 2027 2028 Activity H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 PFS and ESIA ESIA Certification Exploitation Permit For personal use only DFS Mining Convention Financing FEED Detailed Engineering Long
Slide 20: Investment Highlights
Investment Highlights Strong re-rate potential as Bankan moves through its development cycle High Quality Asset Base The next tier-1 gold mining project, ranking well on a global scale on resource size/grade, in Stable Jurisdiction annual production and capital intensity For personal use only Room f
Slide 21: Appendix
For personal use only Appendix Predictive Discovery | West Africa’s Next Tier-1 Gold Mine www.predictivediscovery.com 21
Slide 22: Board & Management
Board & Management Highly experienced Board and senior management team Board Simon Jackson Andrew Pardey Sandra Bates Alberto Lavandeira Steven Michael Non-Executive Chair Managing Director Executive Director – Legal & ESG Non-Executive Director Non-Executive Director • 25 years’ experience in the m
Slide 23: Upper Niger National Park
Upper Niger National Park Committed to sustainable development, biodiversity and environmental preservation o NEB and BC deposits located in the Peripheral Zone of the Upper Niger National Park o Core Conservation Area is the focus of conservation efforts. Deposits located 21km and 18km from the edg
Slide 24: Partial Permit Relinquishment
Partial Permit Relinquishment PDI has committed to relinquish the portion of its permits that overlap the Buffer Zone. This area contains no Mineral Resources, exploration targets or proposed project infrastructure For personal use only Predictive Discovery | West Africa’s Next Tier-1 Gold Mine www.
Slide 25: Community
Community Social programs dedicated to supporting the community and supporting local education For personal use only Installed community water bores to improve water access Bankan Primary School canteen project is Supporting the employment of three teachers providing breakfast and lunch in conjuncti
Slide 26: NEB Deposit Overview
NEB Deposit Overview Large-scale orebody with excellent consistency Mining Method Classification Cut-off (g/t Au) Tonnes (Mt) Grade (g/t Au) Contained (Koz Au) Open Pit Probable 0.5 46.2 1.41 2,101 o Large open pit resource (3.99Moz @ 1.53g/t) and high-grade Underground Probable 1.7 7.1 3.24 739 und
Slide 27: BC Deposit Overview
BC Deposit Overview 487Koz only 3km west of NEB Mining Method Classification Cut-off (g/t Au) Tonnes (Mt) Grade (g/t Au) Contained (Koz Au) Open Pit Probable 0.4 4.3 1.48 207 Total BC Ore Reserves 4.3 1.48 207 o Open pit resource of 487Koz @ 1.24g/t within an orogenic Open Pit Indicated 0.4 5.3 1.42
Slide 28: Bankan Mineral Reserves & Resources Overview
Bankan Mineral Reserves & Resources Overview JORC Ore Reserve JORC Mineral Resource Cut-off Tonnes Grade Contained Cut-off Tonnes Grade Contained Deposit Mining Method Classification Deposit Classification For personal use only (g/t Au) (Mt) (g/t Au) (Koz Au) (g/t Au) (Mt) (g/t Au) (Koz Au) Indicate
Slide 29: Fouwagbe Drilling Results
Fouwagbe Drilling Results Mineralisation defined in a series of parallel south-west plunging shoots. Maiden Mineral Resource estimate targeted for Q1 2025. For personal use only Predictive Discovery | West Africa’s Next Tier-1 Gold Mine Note: Results from various ASX releases. Refer to “Material ASX
Slide 30: Sounsoun Drilling Results
Sounsoun Drilling Results Maiden Mineral Resource estimate targeted for Q1 2025 for mineralisation associated with an east-west oriented shear zone. Exploration upside further south-west based on strong recent intercepts. For personal use only Predictive Discovery | West Africa’s Next Tier-1 Gold Mi
Slide 31: 800W Drilling Results
800W Drilling Results Shallow deposit defined 400m north-west of NEB, with a maiden Mineral Resource estimate targeted Q1 2025 For personal use only Predictive Discovery | West Africa’s Next Tier-1 Gold Mine Note: Results from various ASX releases. Refer to “Material ASX www.predictivediscovery.com
Slide 32: Processing Overview
Processing Overview Simple processing to achieve high recoveries Bankan Processing Flow Sheet o Gold mineralisation confirmed as free-milling with high gold recoveries and amenable to simple, conventional CIL processing For personal use only o Como Engineers has designed a conventional gold processi
Slide 33: PFS Production and Financial Metrics
PFS Production and Financial Metrics US$1,800/oz Au US$2,300/oz Au Ore Reserve Ore Reserve Units Extension Case Extension Case Case Case Leading low-cost gold project in Africa, with modest Mine Life years 12 11 12 11 initial capital complementing +250Kozpa Au production Ore Mined Mt 62 58 62 58 For
Slide 34: Ore Mining Overview
Ore Mining Overview Multiple ore sources provide opportunities to optimise the mine plan and further de-risk operations Extension Case Ore Mined (Mt) and Mining Grade (g/t Au) Underground Bankan Creek (BC) NEB Pushback #1 NEB Pushback #2 Gbengbeden Grade Mined 9.4 62Mt 7.7 3.9 For personal use only
Slide 35: Gold Production Overview
Gold Production Overview Average LOM gold production of +250Koz over a +10 year mine life Extension Case 3.2Moz Production (Koz Au) and AISC (US$/oz) Cumulative Production OP Production UG Production AISC 462 296Koz 405 $1,714 For personal use only 293 362 129 $1,547 First 7 Years Avg. 267 $1,337 $1
Slide 36: Opex & Capex Breakdown
Opex & Capex Breakdown Low upfront capital expenditure and attractive cost profile PFS Operating Cost Breakdown PFS Capital Cost Breakdown (Inc. Contingency) Area Extension Case Ore Reserve Case Area Units Extension Case Ore Reserve Case LOM Cost (US$m) Unit Cost (US$/oz) LOM Cost (US$m) Unit Cost (
Slide 37: NEB Underground Resource Optimisations
1 NEB Underground Resource Optimisations Upside to PFS mineable inventory at NEB through upgrading and extending underground Inferred Resources PFS EXTENSION CASE UNDERGROUND MINING INVENTORY UPSIDE POTENTIAL For personal use only Underground material in Extension Case is limited by open pit LOM (to
Slide 38: BC & Gbengbeden Open Pit Resource Optimisations
1 BC & Gbengbeden Open Pit Resource Optimisations Upside to PFS mineable inventory at BC and Gbengbeden through upgrading Inferred Resources below pit designs BLOCK MODELS OPEN PIT MINING INVENTORY UPSIDE POTENTIAL PFS Mineable Inventory (Koz) Further resource conversion upside via additional drilli
Slide 39: Near-resource Exploration
2 Near-resource Exploration Potential for multiple satellite deposits within 5km of NEB o Targets defined from shallow drilling and geophysics surveys For personal use only o Aiming to deliver additional resource ounces in close proximity to both NEB and BC deposits o Positive results from multiple
Slide 40: Power Cost Optimisations
3 Power Cost Optimisations Current development of Guinea’s power infrastructure has the potential to greatly reduce processing costs Guinea Grid Power Potential & Cost Optimisation Upside 225KV Powerline Installation to Unlock Grid Power(2,3) • Major power production and distribution projects have m
Slide 41: Geotechnical Optimisations
4 Geotechnical Optimisations Conservative assumptions underpinning existing design parameters of Bankan o PDI considers current geotechnical NEB Design Sectors Indicative Slope Configurations Design Sector 1 parameters to be conservative o Further geotechnical drilling required on periphery of the p
Slide 42: Mining Optimisations
5 Mining Optimisations Streamlining of existing pit staging, haulage profiles and mine development strategy Bankan Mining Optimisations NEB Pit Design and Stages Open Pit Mining Optimisations o Review and optimise pit staging (including potential for small NEB starter pit) For personal use only o Re
Slide 43: Sources for Resource Base Benchmarking
Sources for Resource Base Benchmarking Measured Indicated Inferred Total Total Contained Contained Contained Contained Resource Asset Owner Asset Stage Tonnage Tonnage Tonnage Source Grade (g/t) Gold Grade (g/t) Gold Grade (g/t) Gold Gold Grade (Mt) (Mt) (Mt) (Moz) (g/t) (Moz) (Moz) (Moz) https://sn
Slide 44: Sources for Resource Base Benchmarking (Cont'd)
Sources for Resource Base Benchmarking (Cont’d) Measured Indicated Inferred Total Total Contained Contained Contained Contained Resource Asset Owner Asset Stage Tonnage Tonnage Tonnage Source Grade (g/t) Gold Grade (g/t) Gold Grade (g/t) Gold Gold Grade (Mt) (Mt) (Mt) (Moz) (g/t) (Moz) (Moz) (Moz) O
Slide 45: Sources for Resource Base Benchmarking (Cont'd)
Sources for Resource Base Benchmarking (Cont’d) Measured Indicated Inferred Total Total Contained Contained Contained Contained Resource Asset Owner Asset Stage Tonnage Tonnage Tonnage Source Grade (g/t) Gold Grade (g/t) Gold Grade (g/t) Gold Gold Grade (Mt) (Mt) (Mt) (Moz) (g/t) (Moz) (Moz) (Moz) h
Slide 46: Sources for Resource Base Benchmarking (Cont'd)
Sources for Resource Base Benchmarking (Cont’d) Measured Indicated Inferred Total Total Contained Contained Contained Contained Resource Asset Owner Asset Stage Tonnage Tonnage Tonnage Source Grade (g/t) Gold Grade (g/t) Gold Grade (g/t) Gold Gold Grade (Mt) (Mt) (Mt) (Moz) (g/t) (Moz) (Moz) (Moz) S
Slide 47: Sources for Resource Base Benchmarking (Cont'd)
Sources for Resource Base Benchmarking (Cont’d) Measured Indicated Inferred Total Total Contained Contained Contained Contained Resource Asset Owner Asset Stage Tonnage Tonnage Tonnage Source Grade (g/t) Gold Grade (g/t) Gold Grade (g/t) Gold Gold Grade (Mt) (Mt) (Mt) (Moz) (g/t) (Moz) (Moz) (Moz) h
Slide 48: Sources for Resource Base Benchmarking (Cont'd)
Sources for Resource Base Benchmarking (Cont’d) Measured Indicated Inferred Total Total Contained Contained Contained Contained Resource Asset Owner Asset Stage Tonnage Tonnage Tonnage Source Grade (g/t) Gold Grade (g/t) Gold Grade (g/t) Gold Gold Grade (Mt) (Mt) (Mt) (Moz) (g/t) (Moz) (Moz) (Moz) h
Slide 49: Sources for Production and Capex Benchmarking
Sources for Production and Capex Benchmarking Asset Owner Asset Stage Production (Koz) Initial Capex (US$m) Source https://edv-14806-s3.s3.eu-west-2.amazonaws.com/files/5217/3387/4779/241211_-_NR_- Assafou Endeavour PFS 265 $734 _Assafou_PFS.pdf https://s203.q4cdn.com/846800919/files/doc_downloads/P
Slide 50: Material ASX Releases
Material ASX Releases ENCOURAGING DRILLING RESULTS AT FOUWAGBE AND SOUNSOUN, 24/02/2025 4.2MOZ BANKAN GOLD RESOURCE, 01/08/2022 HIGH GRADE DRILL RESULTS EXTEND BANKAN CK DISCOVERY TO NORTH, 11/02/2021 POSITIVE RESULTS FROM SOUNSOUN RESOURCE DRILLING, 17/12/2024 DEEPEST HOLE TO DATE INTERCEPTS GOLD 6
Slide 51: For further information contact
For personal use only For further information contact BRAD MILNE Corporate Development Manager E: brad.milne@predictivediscovery.com BOBBY MORSE / GEORGE POPE Buchanan E: predictive@buchanan.uk.com T: +44 (0)20 7466 5000 ASX : PDI | www.predictivediscovery.com Predictive Discovery | West Africa’s Ne