Predictive, Robex merge in $1.5B Guinea gold deal

[Redator]

Australia’s Predictive Discovery (ASX: PDI) and Canada’s Robex Resources (CVE: RBX)(ASX: RXR) have agreed to merge in an all-share deal worth A$2.35 billion ($1.55 billion), creating a new mid-tier gold producer in Guinea.

Robex shareholders will receive 8.67 Predictive shares for each Robex share, giving them about 51% ownership of the combined company. The merger, announced jointly by the West Africa-focused developers, combines two of the region’s most advanced gold projects.

“By combining two of West Africa’s largest and most advanced gold development projects and leveraging the proven track record of both management teams in Africa, we are creating a company that positions Guinea to become one of Africa’s top five gold producers,” Predictive chief executive officer Andrew Pardey said.

Robex CEO Matthew Wilcox will lead the merged company, while Pardey will serve as chair. 

The merger will go to a shareholder vote in December, requiring approval from at least two-thirds of voting Robex investors. Robex’s board and major shareholders, Cohen Group and Eglinton Mining, have already pledged support.

Consolidation trend

The proposed deal continues a wave of mergers and acquisitions in the gold sector, fuelled by record metal prices and growing consolidation among mid-tier players.

The merger unites Predictive’s Bankan and Robex’s Kiniero gold projects, located just 30 km apart in Guinea. Combined, they are expected to produce more than 400,000 ounces of gold annually by 2029, supported by 9.5 million ounces in resources and 4.5 million ounces in reserves.

Robex, which listed on the ASX in June, plans to begin production at Kiniero in December. Revenues from that operation will help fund development of Bankan, which targets a final investment decision by mid-2026. Robex also operates the smaller Nampala gold mine in Mali, expected to produce 47,000 ounces this year.

Shifting landscape

Guinea, better known for bauxite and iron ore deposits, is drawing renewed attention from gold explorers despite ongoing challenges from artisanal mining and recent regulatory crackdowns. In May, the government revoked more than 50 mining licences and exploration permits, affecting companies such Endeavour Mining, Resolute Mining, Arrow Minerals, Kebo Energy SA and Emirates Global Aluminium.

Canada’s Fortuna Mining (TSX: FVI), for example, signed a joint venture this month with Australia’s Desoto Resources (ASX: DES) to explore the Siguiri basin in northeastern Guinea.