PDI completed 2QFY25 with a key milestone of government approval for its Bankan Environmental & Social Impact Assessment (ESIA). With the approval of the ESIA, PDI can now progress with the submission of an Exploitation Permit for the Bankan Project which it intends to lodge by January 31st, this month. The Approval of the ESIA is a key permitting milestone for Bankan indicating government support for the project from a social and environmental perspective. PDI ended 2QFY25 with a cash position of A$28.8m after A$11.3m of expenditure during the quarter on Exploration and development activities. Spot gold price movements lift our Price Target from $0.52 to $0.55 with a Speculative Buy Rating maintained.
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