Africa-focused Predictive Discovery and Robex Resources will proceed with their proposed merger after all conditions precedent were satisfied or waived, paving the way for completion later this month.
The companies announced on Wednesday that the transaction was unconditional, with implementation expected on or around April 15.
The merger will be effected through a statutory plan of arrangement under Québec law, with the outside date for completion extended to April 30.
Under the agreed terms, Robex shareholders will receive 7.862 Predictive Discovery shares for each Robex share or CHESS Depositary Interest.
Following implementation, Predictive Discovery has also secured conditional approval for a listing on the TSX.
The transaction brings together a portfolio of West African gold assets, alongside what the companies described as strengthened balance sheet capacity and financing synergies. The combined entity is targeting production of more than 400 000 oz/y by 2029, underpinned by the development of the Bankan project in Guinea and the Kiniero operation.
“This marks a major milestone for both Robex and PDI, with the transaction now unconditional and proceeding to implementation. The combination brings together a portfolio of high-quality gold assets, a strengthened balance sheet and meaningful financing synergies,” said new group CEO Matthew Wilcox.
Predictive Discovery CEO Andrew Pardey, who would become nonexecutive chair of the merged entity, said the transaction would enhance scale and execution capability.
The companies confirmed that approval had been received from Guinea’s mining authorities, while engagement with the government of Mali was ongoing. The Mali-related condition precedent had been waived to align with the implementation timetable.
Post implementation, the combined company will be led by Wilcox as CEO and MD, with Pardey as nonexecutive chair, supported by a board and executive team drawn from both organisations.