Perseus aborts takeover of Predictive Discovery

PERSEUS Mining terminated its A$2.1bn takeover proposal for Predictive Discovery, the company said on Thursday.This was after Canada’s Robex Resources exercised its right to match any takeover offer for Predictive Discovery in terms of merger proposals the two companies agreed in October.“As such, the Perseus binding offer for Predictive which was subject to Robex not successfully executing its matching right, is terminated,” the company announced. Shares in Perseus fell 1.13% on the Australian Securities Exchange while Predictive Discovery shares shed just over 11%.Robex and Predictive Discovery, which both operate in Guinea, had previously agreed to merge in a A$2.35bn ($1.55bn) all-share transaction.In terms of this deal, Robex and Predictive Discovery agreed to combined their Guinea projects which are located about 30 kilometres apart. The combined entity was projected to exceed 400,000 ounces of annual production by 2029, backed by 9.5 million oz in resources and 4.5 million oz in reserves.Predictive Discovery is developing the Bankan gold prospect in Guinea’s Siguiri Basin. According to a prefeasibility study, Bankan will operate for 11 years, producing 292,000 oz annually for the first seven. Total life-of-mine costs are estimated to be $1,130/oz.The termination of the merger is a rare setback for Perseus in merger and acquisitions having previoiusly built production which is expected to exceed 500,000 oz/year through dealmaking.A deal for Predictive Discovery would have taken Perseus to over 800,000 oz/year, excluding potential gold from Nyanzaga, a 3.16 million resource ounce project in Tanzania Perseus acquired last year. Perseus produced 496,551 oz in its 2025 financial year.In January, Perseus gave the green light to the $124.6m expansion of its Yaouré gold operation in Côte d’Ivoire – a development that will see mining continue at the site until at least 2035.The post Perseus terminates takeover for Predictive Discovery appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com