Predictive Discovery Ltd (ASX:PDI) substantial shareholder Capital DI Limited has increased its holding to 14.69% after participation in the company's recent $$612,490 placement.
On April 17, the investor based in Mauritius purchased 30 million shares valued at $150,000 and now holds 90 million.
Placement well supported
The placement earlier this month was well supported by a number of the company's large shareholders with binding subscription agreements received.
There were almost 122.5 million ordinary fully paid shares issued at a price of 0.5 cents per share, which represents the company’s entire 25% available allocation under ASX Listing Rules 7.1 and 7.1A.
Exercise of options
This was followed up with the early exercise of listed options which added $180,000 in cash proceeds.
Predictive now has available cash on hand of approximately $1.8 million following the completion of the placement and options exercise.
It is well-funded to execute the next phase of fieldwork on the recent gold discovery at Kaninko Gold Project in Guinea, as well as the broader Guinea portfolio, including the recently announced Koundian project.
Strong Kaninko results
Last week, the company received broad, high-grade results of up to 46 metres at 6.58 g/t gold from 4 metres, which confirmed a new discovery with strong growth potential at the Kaninko project in Guinea.
Results from a 24-hole aircore and reverse circulation program on North-East Bankan prospect, demonstrate broad north-trending zones of at least 450 metres long and open in all directions.
Within the 46-metre intersection was 10 metres at 26.52 g/t from 34 metres while another strong result was 42 metres at 2.92 g/t from 8 metres.