Predictive Discovery’s Bankan Project boasts a 5.4Moz Resource at 1.7g/t with 77% reporting to indicated, all since the initial auger assays in 2020. In October PDI announced the upgrade of its scoping to study to a PFS with a maiden ore reserve at slight delay of 1 quarter. We view the trade-off as a great outcome. The completion and submission of the study and ESIA, planned for release this quarter, paves the way for PDI to commence permitting negotiations with the Government, a critical milestone for the project given its location. With our updated gold price forecasts and price target methodology, we forecast a price target of A$0.37, a slight increase from our previous valuation.
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