Predictive Discovery Ltd (ASX:PDI) has received strong support from shareholders for its share purchase plan, which raised $615,000 at $0.01 per share.
Predictive's board also elected to place the shortfall resulting in another $185,000 being raised, taking the total to $800,000 under the plan.
Another $30,000 was raised from sophisticated investors.
Funds will be allocated to gold exploration in West Africa, including:
- The company’s 35% share of exploration costs in the Toro Gold Joint Venture once Toro Gold Limited achieves its 65% equity by spending US$2.5 million. This will include funding of the exciting Boundiali project in northern Cote D’Ivoire.
- Exploration of the Bobosso Project in Eastern Cote D‘Ivoire.
- If a joint venture with a third party is not concluded on satisfactory terms, ongoing exploration and evaluation of the company’s Bonsiega Project in Burkina Faso, including the Bongou gold deposit, aimed at advancing the project towards a feasibility study.
- New project generation in West Africa.
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