Bankan DFS Confirms US$1.6bn NPV and 250koz Annual Gold Output

Bankan Project Overview

Predictive Discovery has released the results of its Definitive Feasibility Study (DFS) for the Bankan Gold Project in Guinea, confirming the asset as one of Africa’s most significant upcoming gold developments. The study outlines a robust, long-life mining operation with an average annual production of approximately 250,000 ounces of gold over a 12.2-year mine life. This positions Bankan as a top-tier project in the continent’s gold sector.

The project benefits from a substantial mineral resource base of about 5.5 million ounces, including nearly 3 million ounces classified as ore reserves. These reserves underpin the production targets and provide a strong foundation for sustainable operations.

Financial Strength and Cost Competitiveness

The DFS highlights compelling economics, with a post-tax net present value (NPV) of US$1.6 billion and an internal rate of return (IRR) of 46% based on a conservative gold price of US$2,400 per ounce. At the current spot price of over US$3,300 per ounce, the project’s NPV nearly doubles to US$2.9 billion, and the IRR climbs to 73%, demonstrating strong leverage to gold price fluctuations.

Capital expenditure is estimated at US$463 million, aligning closely with previous studies, while the all-in sustaining cost (AISC) averages US$1,057 per ounce over the life of mine. This cost structure is competitive within the African gold mining landscape, enhancing the project’s attractiveness to investors and financiers.

Operational and Technical Optimisations

The DFS incorporates several mining and processing optimisations that de-risk the project and improve efficiency. Notably, steeper pit wall angles and a shallower transition from open pit to underground mining reduce the strip ratio and increase underground mining rates. The processing plant is designed for a throughput of 4.5 million tonnes per annum, employing conventional gravity and carbon-in-leach methods with an average gold recovery rate of 92.8%.

Mining will combine open-pit and underground operations, with early underground development targeting high-grade ore to enhance early cash flow. The project’s design also includes environmental safeguards such as tailings filtration and cyanide destruction, reflecting a commitment to sustainable mining practices.

Regulatory and Community Context

Bankan is located in Guinea, a stable jurisdiction with a strong mining culture and supportive regulatory environment. The project has secured environmental approvals and is in the final stages of obtaining its exploitation permit. Predictive Discovery has engaged extensively with local communities and authorities, implementing social programs and environmental stewardship initiatives, including collaboration with the Upper Niger National Park.

The company’s leadership team brings decades of African mining experience, and major institutional and strategic investors hold approximately 60% of the company’s shares, underscoring confidence in the project’s potential.

Looking Ahead

With financing discussions underway and a final investment decision targeted for early 2026, Predictive Discovery aims to commence production by the second quarter of 2028. The DFS also highlights significant exploration upside across the 35-kilometre Siguiri Basin margin, suggesting potential for resource growth beyond current estimates.