Predictive Discovery to build $463mn gold mine in Guinea with 250,000 oz/y output

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Australian mining company Predictive Discovery is set to develop a $463mn gold project in Guinea , following the completion of a definitive feasibility study (DFS) for its flagship Bankan project, which is expected to produce 250,000 ounces of gold annually. According to a Predictive press release, the Bankan project, located in northeastern Guinea , is projected to become one of the largest new gold mines in West Africa . The DFS outlines an average annual production of 250,000 ounces of gold over a 12.2-year mine life, totalling approximately 3.03mn ounces from 54.5mn tonnes of ore at an average grade of 1.86g/t. According to the DFS, all-in sustaining costs are estimated at $1,057 /oz, with an initial capital expenditure of $463mn , including contingencies. Based on a gold price of $2,400 /oz, the project has an after-tax net present value (NPV) of $1.6bn and an internal rate of return of 46%, with a payback period of under two years. Managing Director Andrew Pardey said the project offers 'exceptional returns' and is highly sensitive to changes in gold prices. For every $100 /oz increase in the gold price, the NPV increases by approximately $140mn . The DFS reflects several key improvements since the April 2024 prefeasibility study, including a lower openpit strip ratio and a higher ore throughput grade. These were achieved by reducing the size of the NEB openpit and accelerating early-stage underground mining. Updated mineral reserves now total 2.95mn ounces of contained gold from 51.6mn tonnes of ore at an average grade of 1.78g/t, using a gold price assumption of $1,800 /oz. Over its operational life, the project is expected to generate $2bn in government revenue for Guinea and create more than 1,500 construction jobs and 1,100 operational positions. ASX-listed Predictive Discovery is currently in the final stage of securing its exploitation permit from the Guinean government and anticipates approval shortly. Construction is scheduled to begin in the second quarter of 2026, with commercial production expected to commence in the second quarter of 2028. © 2025 bne IntelliNews, source Magazine

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