Predictive Discovery (ASX: PDI) is raising up to $1.2 million from a placement of 63.2 million shares at $0.019, with commitments already received for $1.1 million of this.
Showing strong support for PDI's gold operations in Burkina Faso, African Lion 3 Fund are contributing $500,000 to the placement, along with a new director to the PDI board.
PDI's focus is on the high grade Bongou Prospect, where reverse circulation has previously delivered some higher grade broad results such as: 48 metres at 4.3g/t gold from 34 metres, including 16 metres at 9.7g/t gold.
A highlight for Bongou is that it has returned a 94% gold recovery from primary gold mineralisation in preliminary metallurgical testwork.
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