PERTH: Predictive Discovery Ltd. and Robex Resources Inc. announced Monday a definitive agreement to merge in an all-share transaction valued at approximately A$2.35 billion (C$2.17 billion), forming one of West Africa’s leading mid-tier gold producers.
Under the terms of the deal, Predictive Discovery (ASX: PDI) will acquire all outstanding shares of Robex (TSX-V: RBX, ASX: RXR) through a statutory plan of arrangement under Quebec law. Robex shareholders will receive 8.667 PDI shares for each Robex share held, resulting in a combined entity with a projected annual gold output exceeding 400,000 ounces by 2029.
The merger consolidates two of Guinea’s most advanced gold projects—Predictive’s Bankan Project and Robex’s Kiniero Project—located within 30 kilometers of each other. The combined company will hold approximately 9.5 million ounces in mineral resources, including 4.5 million ounces in ore reserves.
“This transaction positions Guinea to become one of Africa’s top five gold producers,” said Andrew Pardey, CEO of Predictive Discovery, who will serve as non-executive chairman of the merged company. Robex CEO Matthew Wilcox will assume the role of CEO and managing director.
The merger is expected to close by year-end, pending shareholder, court and regulatory approvals. Robex’s two largest shareholders, the Cohen Group and Eglinton Mining, which collectively own 25.2% of Robex shares, have agreed to vote in favor of the deal.
The combined company will maintain its ASX listing and seek a dual listing on Canada’s TSX Venture Exchange. Analysts say the merger could boost the company’s capital markets profile and pave the way for inclusion in indices such as the ASX 200 and VanEck’s Junior Gold Miners ETF.
Robex’s Kiniero Project is on track for first gold production in December, while Predictive’s Bankan Project is targeting a final investment decision by mid-2026. The merger will allow Predictive to leverage Robex’s cash flows and in-the-money warrants to de-risk Bankan’s development.
Boards of both companies unanimously approved the transaction, supported by fairness opinions from Canaccord Genuity and Cormark Securities.