Predictive Discovery Ltd (ASX:PDI) directors Paul Roberts, Phillip Jackson and Steven Michael have participated in the company’s recent $10.6 million placement which will drive exploration at the Bankan Gold Project in Guinea, West Africa.
Director participation was approved by shareholders at a general meeting on December 11.
Roberts acquired 714,500 shares at 5.6 cents per share on December 18 in an indirect interest, bringing the total number of securities in that interest 5,974,171
Jackson also acquired 714,500 shares on that date, which increased the total holding in an indirect interest to 1,247,834 shares.
In addition, Michael purchased 178,580 ordinary shares in an indirect interest and this represented his first acquisition of fully paid ordinary shares.
Placement funds
PDI received firm commitments from sophisticated and institutional investors for the placement to raise gross proceeds of A$10.6 million.
There was strong demand for the placement shares from both offshore and domestic institutions, successfully introducing a number of well-regarded global funds to the share register.
Bankan drilling campaign
The company is well-funded to carry out an aggressive drill campaign at its Bankan Gold Project with the key objective to deliver a maiden JORC resource by mid-2021.
There are three rigs on site - one diamond and two power auger - with a second diamond rig expected at site shortly.
This will see a total of four rigs drilling for 25,000 metres for several months ahead of the first batch of drilling results expected in January.