Slide 1: West Africa's Next Tier-1 Gold Mine: Bankan Pre-Feasibility Study Presentation
West Africa’s Next Bankan Pre-Feasibility Tier-1 Gold Mine Study Presentation April 2024 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 Tier-1 Bankan Gold Project moving towards development phase, with potential for additional large-scale discoveries o Leading African development asset, with LOM average production of 269Koz over a 12-year mine life o Exploration and development Company with the Tier-1 Bankan Gold
Slide 4: Corporate Overview
Corporate Overview Major Shareholders(1) Capitalisation(2) Ordinary Shares Outstanding 2,076m (15.0%) Unlisted Options 70m Fully-Diluted Shares Outstanding 2,146m (9.6%) Closing Price (12-Apr-24) A$0.25 Undiluted Market Capitalization A$519m | US$337m (4.9%) Cash (31-Dec-23) A$26m | US$17m (4.5%) Sh
Slide 5: 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 PRODUCTION PROFILE MINERAL RESOURCE INTENSITY HIGH MARGIN NPV AND IRR 269Kozpa of gold 3.05Moz ore re
Slide 6: 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) of contained gold across the NEB open pit, NEB underground(2) and BC NEB Deposit open
Slide 7: Environmental & Social Highlights
Environmental & Social Highlights Committed to extensive stakeholder engagement and environmental preservation Permitting Considerations o Comprehensive Environmental & Social Impact Assessment (“ESIA”) completed; no fatal flaws o Submission of the PFS and ESIA to the Government a key step in securi
Slide 8: Guinea Overview
Gold Iron Ore Bauxite Graphite Guinea Overview Siguiri (Production) Mature resources industry; West Africa’s next major gold region Lefa (Production) 279Kozpa Au Bankan (PFS) 207Kozpa Au o Stable and mature mining jurisdiction 269Kozpa Au • Low security risk, uninterrupted mining, geologically ferti
Slide 9: Bankan Gold Project PFS Highlights
Fast-tracking Bankan Gold Project PFS Highlights development of West Africa’s next tier-1 gold mine Predictive Discovery | West Africa’s next Tier-1 Gold Mine www.predictivediscovery.com 9
Slide 10: PFS Overview: Production Metrics
PFS Overview US$1,800/oz Au US$2,300/oz Au Ore Reserve Ore Reserve Units Extension Case Extension Case Case Case Leading low-cost gold project in Africa, with modest Mine Life years 12 11 12 11 initial capital complementing +250Kozpa Au production Ore Mined Mt 62 58 62 58 Production Metrics Processi
Slide 11: Ore Mining Overview
Ore Mining Overview Multiple ore sources provide opportunities to optimize the mine plan and further de-risk operations Extension Case Ore Mined (Mt) and Mining Grade (g/t Au) Underground Bankan Creek (BC) NEB Pushback #1 NEB Pushback #2 Gbengbeden Grade Mined 9.4 62Mt 7.7 3.9 Cumulative Ore 0.5 3.4
Slide 12: Gold Production Overview
Gold Production Overview Average LOM gold production of +250Koz over a +10 year mine life Extension Case 3.2Moz Production (Koz Au) and AISC (US$/oz) Cumulative Production OP Production UG Production AISC 462 296Koz 405 $1,714 293 362 129 $1,547 First 7 Years Avg. 267 $1,337 $1,303 $1,282 115 107 $1
Slide 13: 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) 6.0 Top-tier African Producing High
Slide 14: Production and Capex Benchmarking
Production and Capex Benchmarking Bankan has the highest annual production and lowest capital intensity of top-tier African gold development projects Top-tier African Gold Projects – Production (Kozpa Au)(1) 269 234 223 220 Median: 186Koz Au 203 199 173 167 162 162 150 90 Doropo Dugbe Kiaka Twin Hil
Slide 15: Key Optimizations & Further Works
Key Optimizations & Further Works RESOURCE NEAR-RESOURCE POWER COST GEOTECHNICAL MINING COST OPTIMIZATIONS 1 EXPLORATION 2 OPTIMIZATIONS 3 OPTIMIZATIONS 4 OPTIMIZATIONS 5 The currently under Inferred resources at NEB, construction Linsan- Conservative assumptions Streamlining of existing Significant
Slide 16: NEB Underground Resource Optimizations
1 NEB Underground Resource Optimizations Upside to PFS mineable inventory at NEB through upgrading and extending underground Inferred Resources PFS EXTENSION CASE UNDERGROUND MINING INVENTORY UPSIDE POTENTIAL Underground material in Extension Case is limited by open pit LOM (to maintain throughput)
Slide 17: BC & Gbengbeden Open Pit Resource Optimizations
1 BC & Gbengbeden Open Pit Resource Optimizations 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 18: 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 o Aiming to deliver additional resource ounces in close proximity to both NEB and BC deposits o Positive results from multiple targets • 800W showing
Slide 19: Power Cost Optimizations
3 Power Cost Optimizations Current development of Guinea’s power infrastructure has the potential to greatly reduce processing costs Guinea Grid Power Potential & Cost Optimization Upside 225KV Powerline Installation to Unlock Grid Power(2,3) • Major power production and distribution projects have m
Slide 20: Geotechnical Optimizations
4 Geotechnical Optimizations 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 21: Mining Optimizations
5 Mining Optimizations Streamlining of existing pit staging, haulage profiles and mine development strategy Bankan Mining Optimizations NEB Pit Design and Stages Open Pit Mining Optimizations o Review and optimize pit staging (including potential for small NEB starter pit) o Review pit haulage profi
Slide 22: Regional Upside – Argo Drilling Results
Regional Upside – Argo Drilling Results Promising results from multiple target areas o Multiple specific target areas plus 23 line kms of anomalous B auger trends to be tested o Drilling programs ongoing on a results-driven basis o Most promising targets so far: F 600m multi-element auger anomaly ne
Slide 23: 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 Exploitation Permit DFS Further definition & Exploration Drilling Financing FEED Detailed Engineering Long Lead Items Procurement Gen
Slide 24: 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 Room for Material Asset Nume
Slide 25: Appendix
Appendix Predictive Discovery | West Africa’s next Tier-1 Gold Mine www.predictivediscovery.com 25
Slide 26: Bankan Gold Project Pre-Feasibility Study
Study that provides the Bankan Gold Project Pre-Feasibility Study base for further growth and enhancements Predictive Discovery | West Africa’s next Tier-1 Gold Mine www.predictivediscovery.com 26
Slide 27: PFS Contributors
PFS Contributors Full and complete suite of best-in-class, specialist third party and internal contributors Mineral Resource Estimate Geotechnical Assessment Hydrogeology and Hydrology Mining Assessment Ore Reserve Estimate Metallurgical Testwork Review Ore Processing Plant Design Infrastructure and
Slide 28: 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 29: 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 30: 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 o Como Engineers has designed a conventional gold processing plant to achieve 5.
Slide 31: 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 32: Sensitivity Analysis
Sensitivity Analysis As is typical for a gold project, Bankan is most sensitive to revenue linked assumptions Extension Case at US$1,800/oz Ore Reserve Case at US$1,800/oz NPV5% - US$668m NPV5% - US$567m Gold Price ±10% $404 $930 $331 $801 Grade ±10% $404 $929 $332 $801 Discount Rate ±2% $536 $828 $
Slide 33: Other Supporting Material
Other Supporting Material Predictive Discovery | West Africa’s next Tier-1 Gold Mine www.predictivediscovery.com 33
Slide 34: Board & Management
Board & Management Highly experienced Board and senior management team Board Simon Jackson Andrew Pardey Sandra Bates Steven Michael Non-Executive Chair Managing Director Non-Executive Director Non-Executive Director • 25 years’ experience in the management of • Geologist with extensive experience i
Slide 35: Rationale of PFS vs Scoping Study
Rationale of PFS vs Scoping Study Improved accuracy and a clearer development path The PFS is welcomed by regulators as it Higher Reporting PFS Scoping Study provides a clearer view of the economic, Standard environmental & social impacts of the Project Scope of Work Approximate Conceptual A PFS pro
Slide 36: Bankan Mineral Resource Evolution
Bankan Mineral Resource Evolution Since MRE, PDI has added 1.7Moz, increased grade to 1.66 Au g/t and upgraded 4.1Moz into Indicated Resources Discovery of >5Moz high-grade gold deposit within 4 years of initial discovery 8.0 Inferred Resources (Moz Au) Indicated Resources (Moz Au) Reserves (Moz Au)
Slide 37: 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 (g/t Au) (Mt) (g/t Au) (Koz Au) (g/t Au) (Mt) (g/t Au) (Koz Au) Indicated 0.5 78.4 1.55 3,900
Slide 38: 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) Resource A
Slide 39: 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) E
Slide 40: 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 41: 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 42: 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 43: 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 44: Sources for Production and Capex Benchmarking
Sources for Production and Capex Benchmarking Asset Owner Asset Stage Production (Koz) Initial Capex (US$m) Source Nyanzaga Orecorp DFS 234 $474 https://orecorp.com.au/projects/tanzania/nyanzaga-project https://www.montagegoldcorp.com/_resources/presentations/corporate- Kone Montage Gold FS 223 $712
Slide 45: Key Risks
Key Risks This section identifies the areas that the Company regard as the major risks associated with an investment in the Company. Investors should be aware that an investment in the Company involves many risks, many of which are outside of the control of the Company and its directors. There are n
Slide 46: Material ASX releases
Material ASX releases PFS DELIVERS ATTRACTIVE FINANCIALS & 3.05MOZ ORE RESERVE, 15/04/2024 33M @ 4.5 G/T AU AT NE BANKAN, GUINEA, 13/01/2021 DIAMOND DRILLING UNDERWAY AT BANKAN GOLD PROJECT, 17/12/2020 EXCELLENT RESULTS FROM ARGO CENTRAL TREND, 9/04/2024 BANKAN PROJECT GROWS WITH NEW GOLD DISCOVERIE
Slide 47: For further information contact
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 next Tier-1 Gold Mine ww