Australia’s Predictive Discovery (ASX: PDI) and Canada’s Robex Resources (CVE: RBX)(ASX: RXR) have announced an all-share merger valued at A$2.35 billion ($1.55 billion), creating a new mid-tier gold company in Guinea.
Under the agreement, Robex shareholders will receive 8.67 Predictive shares for each Robex share, giving them approximately 51% ownership of the combined entity. The merger brings together two of West Africa’s most advanced gold projects.
“By combining two of West Africa’s largest and most advanced gold development projects and leveraging the proven track record of both management teams in Africa, we are creating a company that positions Guinea to become one of Africa’s top five gold producers,” said Predictive CEO Andrew Pardey. Robex CEO Matthew Wilcox will lead the merged company, with Pardey serving as chair.
The merger will be submitted to a shareholder vote in December, requiring approval from at least two-thirds of Robex investors. Key shareholders, including Cohen Group and Eglinton Mining, have already expressed support.
Consolidation in Gold Mining
This deal reflects the broader consolidation trend in the gold sector, driven by record metal prices and growing M&A activity among mid-tier producers.
The merger combines Predictive’s Bankan project and Robex’s Kiniero project, located just 30 km apart. The combined operation is expected to produce over 400,000 ounces of gold annually by 2029, supported by 9.5 million ounces in resources and 4.5 million ounces in reserves.
Robex, which listed on the ASX in June, plans to start production at Kiniero in December. Revenues from this operation will support the development of Bankan, which targets a final investment decision by mid-2026. Robex also operates the Nampala gold mine in Mali, expected to produce 47,000 ounces this year.
Guinea’s Growing Gold Appeal
Traditionally known for bauxite and iron ore, Guinea is attracting renewed interest from gold explorers despite challenges from artisanal mining and regulatory crackdowns. In May, the government revoked over 50 mining licences and exploration permits, impacting companies such as Endeavour Mining, Resolute Mining, Arrow Minerals, Kebo Energy SA, and Emirates Global Aluminium.
For example, Canada’s Fortuna Mining (TSX: FVI) signed a joint venture with Australia’s Desoto Resources (ASX: DES) to explore the Siguiri basin in northeastern Guinea this month.
The merger positions the new company to become a significant player in Guinea’s gold sector, combining advanced projects, experienced management, and strong production potential.