Australian miner Predictive Discovery (PDI) acquires Canada’s Robex Resources in a $1.55bn deal, creating a mid-tier gold producer in West Africa. Robex shareholders to receive 8.667 PDI shares for each Robex share. Merged entity ownership split 51% PDI, 49% Robex. Production expected to exceed 400,000oz of gold annually by 2029.

Merged company to have combined mineral resources of approximately 9.5moz of gold, including 4.5moz in ore reserves. Transaction to boost economic growth in Guinea, enhance local workforce, and improve infrastructure. Bankan project funding de-risked by using cash flows from Kiniero project and exercise of Robex’s warrants and options.

Bankan and Kiniero projects in Guinea are within 30km of each other. Planned dual listing and diversified portfolio to enhance capital markets profile and potential share price re-rating. CEOs express excitement over transformative combination and long-term value creation. Predictive Discovery aims to position Guinea as a top five African gold producer.

Read more at Yahoo Finance: Predictive Discovery and Robex sign definitive merger agreement