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Predictive Discovery in trading halt pending capital raising announcement

The company is undertaking a capital raising and has requested a trading halt of its securities to allow it time to formalise the raising.

Predictive Discovery Ltd - Predictive Discovery in trading halt pending capital raising announcement
Trading will resume on the release of an announcement or on Friday, October 23, 2020

Predictive Discovery Ltd (ASX:PDI) has been granted a trading halt by the ASX with an announcement pending in relation to a capital raising.

Unless ASX decides otherwise, the securities will remain halted until the earlier of the start of normal trading on Friday, October 23, 2020, or when the announcement is released to the market.

The company has a market cap of approximately $51.1 million and shares last traded at 6.1 cents.

Drilling program underway

The company has recently started the second phase of a drilling program at its flagship Bankan Gold Project in Guinea.

Power auger drilling is being conducted on a western extension of the NE Bankan auger grid, testing a possible new north-south zone of gold mineralisation between the NE Bankan and Bankan Creek gold deposits.

The company is reviewing all drilling data from the Bankan-1 program with the aim of providing further insights into geological structures controlling NE Bankan and to design the Bankan-2 program as it gears up to deliver its maiden resource estimate in mid-2021.

Quick facts: Predictive Discovery Ltd

Price: 0.059 AUD

ASX:PDI
Market: ASX
Market Cap: $59.28 m
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