Robex Shareholders to Own 46.5% After Amended Merger with Predictive Discovery

Amended Merger Terms Signal Strategic Shift

Robex Resources Inc. and Predictive Discovery Limited have agreed to amend their previously announced merger arrangement, increasing the exchange ratio to 7.862 Predictive Shares for each Robex Share. This adjustment means Robex shareholders will hold approximately 46.5% of the combined company on a fully diluted basis, a notable shift from earlier terms. The amendment follows a competing proposal for Predictive shares, which the revised agreement has effectively neutralized, clearing the path for the transaction to proceed.

Strong backing from Robex’s major shareholders, including directors and officers representing nearly a quarter of outstanding shares, underscores confidence in the deal’s value proposition. These stakeholders have entered into amended voting agreements to support the transaction, reflecting a unified front ahead of the upcoming shareholder vote.

Creating a West African Gold Powerhouse

The merger combines Robex’s Kiniero Project in Guinea with Predictive’s Bankan Project, forming one of West Africa’s largest and most advanced gold producers. Together, the projects boast combined resources of approximately 9.5 million ounces of gold and are projected to produce over 400,000 ounces annually by 2029. The proximity of these assets offers operational synergies, including optimized development and workforce deployment, positioning the merged entity as a tier-1 mining hub in the region.

Financially, the deal is expected to be accretive over the medium term, supported by near-term cash flows from Kiniero and funding from Robex’s warrant proceeds to advance Bankan’s development. The increased scale and diversification also enhance the company’s profile, potentially paving the way for inclusion in major indices such as the ASX 200 and GDXJ, which could improve liquidity and investor appeal.

Governance and Next Steps

The Robex Board, supported by updated fairness opinions from Canaccord Genuity and Cormark Securities, unanimously recommends shareholders vote in favor of the amended arrangement. To accommodate additional shareholder consideration, the special meeting originally scheduled for December 15 has been postponed to December 30, 2025. Proxy deadlines have been extended accordingly, with shareholders urged to vote promptly to ensure their voices are counted.

Robex has committed to providing an addendum to its management information circular, offering updated details to assist shareholders in making an informed decision. The virtual meeting format aims to facilitate broad participation despite geographic dispersion.

Outlook and Considerations

While the amended terms and strong shareholder support bode well for the transaction’s completion, certain regulatory uncertainties remain, notably Predictive’s ongoing appeal of permit revocations affecting some exploration areas. Market conditions, commodity price fluctuations, and execution risks inherent in mining projects also warrant close attention as the combined company moves toward integration and production ramp-up.