Predictive Discovery has agreed to invest A$10 million, equivalent to approximately C$14.15 million, in Awalé Resources, establishing an estimated 12.3 per cent interest in the Canadian-listed gold explorer. The strategic placement expands Predictive’s West African exposure beyond its Bankan project in Guinea and directs new capital toward exploration in Côte d’Ivoire.
Announced on 15 July 2026, the transaction centres on Awalé’s Odienné gold and copper-gold district in north-western Côte d’Ivoire. The district covers 2,346 square kilometres across seven permits and permit applications. Predictive will use cash to fund the subscription and has stated that the investment will not affect financing requirements for Bankan. The transaction therefore adds exposure to Awalé’s exploration portfolio while keeping Predictive’s existing development funding separate.
Odienné portfolio and Newmont joint venture
Awalé’s most advanced ground comprises a 797-square-kilometre joint venture with Newmont Corporation. Newmont is solely funding exploration under the agreement, while Awalé is responsible for managing the exploration programme. The joint venture contains an initial inferred resource of 32.4 million tonnes grading 1.64 grams per tonne gold-equivalent, equivalent to 1.71 million gold-equivalent ounces. The resource covers the BBM, Charger and Empire deposits.
Predictive’s investment is intended primarily for Awalé’s 100 per cent-owned exploration ground, rather than the acreage funded by Newmont. The arrangement leaves Newmont responsible for expenditure within its joint venture while providing Awalé with additional capital to advance targets where it retains full ownership.
Funding position and exploration expenditure
Awalé expects to have more than C$30 million available after closing. The enlarged financial position is expected to support a larger drilling programme without an immediate additional equity raising.
The investment remains exploration funding rather than mine-development capital. Further technical work is required before any of the deposits can support construction, including resource conversion, metallurgical studies, infrastructure definition and economic evaluations. For Predictive, the A$10 million subscription provides exposure to another West African exploration platform without drawing on funds allocated to Bankan. The company is funding the placement from its existing cash resources.
Transaction remains subject to closing requirements
The proposed investment has been announced but has not yet been completed. Final share issuance and Predictive’s resulting ownership will depend on closing conditions and applicable exchange approvals. If completed, the transaction will establish Predictive as an estimated 12.3 per cent shareholder of Awalé while connecting the company to exploration activity involving both Awalé and Newmont in the Odienné district.
