• Perseus submits offer to acquire all shares of Predictive Discovery

• Bid values Predictive at $1.4 billion, above terms of merger with Robex

• Move positions Perseus to add Bankan to its portfolio and expand in West Africa

Perseus Mining said in a note published on Wednesday, December 3, that it has submitted an offer to acquire all outstanding shares of fellow Australian firm Predictive Discovery. The move comes one month after Predictive announced a planned $1.5 billion merger with Canada’s Robex Resources to create in Guinea a new gold producer expected to exceed 400,000 ounces per year by 2029.

Announced in early October, the planned merger covers the future Bankan mine (Predictive) and the Kiniero mine (Robex), both under development in Guinea. With its offer, Perseus inserts itself into the deal, leveraging its position as Predictive’s largest shareholder with a 17.8 % stake. It now seeks to acquire the remaining shares.

According to the details provided, the transaction reflects a fully diluted valuation of $1.4 billion for Predictive Discovery. Predictive’s board has already described the offer as “superior” to the terms of the proposed merger with Robex Resources.

Beyond its role as a shareholder, Perseus cites the growth potential of the acquisition. Bankan could join its portfolio with an expected average output of about 250,000 ounces of gold per year over more than 12 years, based on current plans. The addition would accelerate the company’s geographic diversification, complementing operations at Yaouré and Sissingué in Côte d’Ivoire, Edikan in Ghana, and the Nyanzaga mine in Tanzania, slated to start up in 2027.

However, the finalization of any acquisition agreement remains uncertain. Robex said it will review the “options available” following this development. It has five business days to submit a competing offer, should it choose to do so.

As a reminder, the merger agreement allows either party to cancel the deal by paying 37 million Australian dollars to the other party. Perseus has already offered to pay this amount to Predictive as a secured loan under its proposal.

Aurel Sèdjro Houenou