Robex Announces Amendment to Arrangement Agreement With Predictive Discovery; Special Meeting Postponed to December 30, 2025
Highlights
- Amended Arrangement Agreement: Robex and Predictive Discovery have agreed to revised terms under the amended arrangement agreement. Robex Shareholders will receive 7.862 Predictive Shares for each Robex Share, resulting in Robex Shareholders owning 46.5% of the combined company on a fully diluted in-the-money basis.
- Strong Shareholder Support: Shareholders have expressed strong support for the transaction, with major shareholders, directors and officers of Robex (representing ~23.8% of the outstanding Robex Shares) entering into separate amended voting agreements.
- Strategic Benefits: The merger creates one of West Africa's leading gold producers, combining two large, low-cost, and advanced projects with significant growth potential.
- Accretive Value: The transaction is expected to be accretive to shareholders of the combined company over the medium term, supported by attractive exposure to the merged group's high-quality assets, increased scale, increased asset diversification, and potential index inclusion.
- Meeting Update: The deadline for Robex Shareholders to vote their Robex Shares by depositing proxies is revised to 5:00 p.m. (Eastern Time) on December 29, 2025 (6:00 a.m. Australian Western Standard Time on December 30, 2025). The deadline for Robex CDI Holders to submit their CDI Voting Instruction Form is revised to 5:00 p.m. (Eastern Time) on December 28, 2025 (6:00 a.m. Australian Western Standard Time on December 29, 2025). NO FURTHER ACTION IS REQUIRED OF ROBEX SHAREHOLDERS WHO HAVE ALREADY VOTED THEIR ROBEX SHARES FOR THE ARRANGEMENT RESOLUTION IF THERE IS NO CHANGE TO THEIR VOTE.
QUEBEC CITY, Dec. 11, 2025 -- Robex Resources Inc. ("Robex" or the "Corporation") (TSX-V: RBX, ASX: RXR) announces that it has entered into an amending agreement (the "Amending Agreement") with Predictive Discovery Limited ("Predictive") (ASX: PDI) and 9548-5991 Québec Inc. ("Acquireco") to amend the previously announced arrangement agreement dated October 5, 2025 (the "Arrangement Agreement"), pursuant to which Acquireco, a direct wholly-owned subsidiary of Predictive, will acquire all of the issued and outstanding common shares of Robex ("Robex Shares") by way of a statutory plan of arrangement under Chapter XVI - Division II of the Business Corporations Act (Québec) (the "Arrangement" or the "Transaction").
Under the terms of the Amending Agreement, holders of Robex Shares ("Robex Shareholders") will now receive 7.862 fully paid ordinary shares in the capital of Predictive ("Predictive Shares") for each Robex Share held (the "Amended Consideration"). Following completion of the Transaction, existing Predictive shareholders and former Robex Shareholders will own approximately 53.5% and 46.5%, respectively, of the combined company on a fully diluted in-the-money basis.
The terms of the Amending Agreement were agreed following receipt by Predictive of a competing superior proposal ("Competing Offer") announced by Predictive on December 3, 2025 for all of the issued and outstanding Predictive Shares. In accordance with the terms of the Arrangement Agreement, the board of directors of Predictive subsequently determined that the Amending Agreement results in the Competing Offer ceasing to be a superior proposal under the Arrangement Agreement. A copy of the Amending Agreement has been filed on Robex's SEDAR+ profile at www.sedarplus.ca.
Matthew Wilcox, Managing Director and CEO of Robex, commented:
"We want to sincerely thank the major shareholders for their unified view that strong potential value creation is only available in this transaction. The amended agreement provides both Robex and Predictive shareholders with attractive exposure to the merged group's high-quality assets and positions them to benefit from a higher share price re-rate as we deliver our medium-term growth pipeline. This combination creates a stronger company with near-term cash flow from Kiniero and Bankan, project synergies, and access to a world-class mine building team with very recent construction experience in Guinea. Together, the combined company is well placed to deliver meaningful returns and build one of West Africa's leading gold producers with the creation of a tier-1 gold mining hub in Guinea."
Rationale for the Transaction:
- Shareholder Support: Strong support from major shareholders for the amended transaction.
- Strategic Combination: The merger creates one of West Africa's leading gold producers, combining two of the region's largest, lowest-cost, and most advanced gold projects-Kiniero and Bankan-with projected production of 400koz+ annually by 2029 and combined resources of ~9.5Moz Au.
- Financial Flexibility: Cash flows from Kiniero and warrant proceeds from Robex provide funding capacity for Bankan's development, reducing financing risk.
- Project Synergies: Proximity of projects enables a tier-1 mining hub, optimising development, exploration, and workforce deployment.
- Enhanced Market Profile: Greater scale and multi-asset nature position the combined company for potential inclusion in major indices (ASX 200, GDXJ), improving liquidity and investor appeal.
- Experienced Leadership: A strengthened management team with proven in-country expertise and dual-listed company experience to drive effective execution.
- Share Price Re-Rate: Potential for a higher relative share price re-rate of the merged group driven by increased scale, imminent gold production growth, multi-asset profile, and enhanced index inclusion opportunities.
Second Fairness Opinions and Board Recommendation
The board of directors of the Corporation (the "Robex Board") has received an updated opinion of Canaccord Genuity Corp. and the special committee of independent directors of the Robex Board (the "Robex Special Committee") has received an updated opinion of Cormark Securities Inc. (together, the "Second Fairness Opinions") to the effect that, as of the date of each such Second Fairness Opinion, and based upon and subject to the assumptions, limitations and qualifications set forth therein, the Amended Consideration to be received by Robex Shareholders is fair, from a financial point of view, to the Robex Shareholders.
Based on the unanimous recommendation of the Robex Special Committee, and after consultation with its outside financial and legal advisors, the Robex Board has unanimously determined that the Arrangement (as amended by the Amending Agreement) is in the best interests of Robex, and that the Amended Consideration to be received by Robex Shareholders pursuant to the Transaction is fair, from a financial point of view, to the Robex Shareholders, and that THE ROBEX BOARD UNANIMOUSLY RECOMMENDS TO ROBEX SHAREHOLDERS THAT THEY VOTE FOR THE ARRANGEMENT RESOLUTION (AS DEFINED BELOW) AT THE MEETING (AS DEFINED BELOW).
Amended Voting Agreements
Pursuant to the terms of the Amending Agreement, the Cohen Group, Eglinton Mining and all of the directors and certain members of senior management of Robex (each, a "Supporting Shareholder"), who in the aggregate own approximately 23.8% of the issued and outstanding Robex Shares, have each entered into amended and restated voting support agreements with Predictive, pursuant to which each Supporting Shareholder has consented to the Amended Consideration contemplated by the Amending Agreement and agreed to vote all of their Robex Shares in favour of approving the Arrangement Resolution at the Meeting.
Meeting Postponed to December 30, 2025
Robex' special meeting of shareholders called to consider the Arrangement (the "Meeting"), previously scheduled for December 15, 2025 at 8:00 a.m. (Eastern Time) (9:00 p.m. Australian Western Standard Time), has been postponed to December 30, 2025 at 8:00 a.m. (Eastern Time) (9:00 p.m. Australian Western Standard Time) to allow Robex Shareholders with additional time to deposit proxies or voting instruction forms to vote FOR the Arrangement Resolution. The Meeting will be held virtually, via live video webcast at www.icastpro.ca/q04g09 (English) or www.icastpro.ca/hzwy58 (French). Robex Shareholders are required to pre-register for the Meeting at the foregoing links to be able to vote their Robex Shares in person at the Meeting and are urged to vote in advance of the Meeting by proxy.
At the Meeting, Robex Shareholders will be asked to consider and vote on a special resolution (the "Arrangement Resolution") to approve the Arrangement. The Arrangement can only proceed if, among other conditions, the Arrangement Resolution receives the approval of not less than two-thirds (66?%) of the votes cast on the Arrangement Resolution by Robex Shareholders represented in person or by proxy at the Meeting.
Deadline to Deposit Proxies Revised to December 29, 2025
The form of proxy and voting instruction form (including CDI voting instruction forms) that were mailed to Robex Shareholders with the Management Information Circular in late November 2025 remain valid. Due to the postponement of the Meeting, Robex has extended the deadline to deposit proxies and CDI Voting Instruction Forms. The Robex Board urges Robex Shareholders to deposit their proxy form or voting instruction form and vote FOR the Arrangement Resolution ahead of the revised proxy deadline of 5:00 p.m. (Eastern Time) on December 29, 2025 (6:00 a.m. Australian Western Standard Time on December 30, 2025) (the "Revised Proxy Deadline"). Robex CDI Holders should submit their CDI Voting Instruction Form by to 5:00 p.m. (Eastern Time) on December 28, 2025 (6:00 a.m. Australian Western Standard Time on December 29, 2025) (the "Revised CDI VIF Deadline").
- No further action is required of Robex Shareholders who have already voted their Robex Shares FOR the Arrangement Resolution if there is no change to their vote.
- Robex Shareholders who have not already voted are encouraged to vote their Robex Shares FOR the Arrangement Resolution promptly, and in any case, prior to the Revised Proxy Deadline or Revised CDI VIF Deadline (as applicable), using the instructions provided in their proxy form or voting instruction form.
- Robex Shareholders who previously voted their Robex Shares AGAINST the Arrangement Resolution are encouraged to cast a new vote FOR the Arrangement Resolution promptly, and in any case, prior to the Revised Proxy Deadline or Revised CDI VIF Deadline (as applicable). The later-dated proxy or voting instructions supersedes any previous submission.
- In accordance with the terms of the Interim Order, the record date for the postponed Meeting remains November 3, 2025.
Addendum to Information Circular
Pursuant to the terms of the Amending Agreement, Robex will issue a further press release and file an addendum (the "Addendum") to the management information circular of the Corporation dated November 11, 2025 (the "Circular") in respect of the Meeting, to provide Robex Shareholders with updated information in sufficient detail to permit them to form a reasoned judgment concerning the Arrangement Resolution. The Addendum will be supplemental to the information contained in the Circular and will be delivered to Robex Shareholders as well as made publicly available on SEDAR+, along with any other ancillary materials as required, in accordance with the terms of the Interim Order. The Circular will otherwise remain unchanged.
Shareholder Questions and Voting Assistance
Robex Shareholders who have questions about the information contained in this press release or require assistance with voting their shares, may contact Robex proxy solicitation agent and shareholder communications advisor:
Laurel Hill Advisory Group
Toll-Free: 1-877-452-7184 (for Shareholders in North America) or 1-800-861-409 (for CDI holders in Australia)
International: 1-416-304-0211 (for Shareholders outside North America)
By Email: assistance@laurelhill.com
Robex has engaged Canaccord Genuity as financial advisor, Peloton Legal Pty Ltd as Australian legal advisor, Osler, Hoskin & Harcourt LLP as Canadian legal advisor. Cormark Securities Inc. has been engaged as financial advisor to the Robex Special Committee.
This announcement was approved by the Managing Director.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Robex Resources Inc.
Matthew Wilcox, Managing Director and Chief Executive Officer
Alain William, Chief Financial Officer
Email: investor@robexgold.com
Investors and Media:
Michael Vaughan, Fivemark Partners
Phone: +61 422 602 720
Email: michael.vaughan@fivemark.com.au
ABOUT ROBEX RESOURCES INC.
Robex Resources is a Canadian gold mining company listed on the TSX-V and ASX, and headquartered in Quebec, Canada. Robex's material properties consist of the Nampala Project in Mali and the Kiniero Project in Guinea.
Not an Offer
No securities regulatory authority has either approved or disapproved of the contents of this news release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The securities being offered have not been registered under the U.S. Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws.
Forward-looking Statements
This announcement contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "Forward-looking Information"). These include statements regarding future outlook and anticipated events, such as the consummation and timing of the Transaction and the satisfaction of the closing conditions under the Arrangement Agreement and the Amending Agreement; the timing of the Meeting and of the Revised Proxy Deadline; the filing and delivery of the Addendum, press release and any other ancillary materials; pro forma ownership of the combined company; and future plans, projections, objectives, estimates and forecasts and the timing related thereto. All statements, other than statements of historical fact, that address circumstances, events, activities or developments that could or may or will occur are Forward-looking Information. Forward-looking Information is generally identified by the use of words like "will", "create", "enhance", "improve", "potential", "expect", "upside", "growth", "estimate", "anticipate" and similar expressions and phrases or statements that certain actions, events or results "may", "could", or "should", or the negative or grammatical variations of such terms, are intended to identify Forward-looking Information. Although Robex believes that the expectations reflected in the Forward-looking Information are reasonable, undue reliance should not be placed on Forward- looking Information since no assurance can be provided that such expectations will prove to be correct. Forward-looking Information is based on information available at the time those statements are made and/or good faith belief of the officers and directors of Robex as of that time with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the Forward-looking Information. Forward-looking Information involves numerous risks and uncertainties. Such factors may include, but are not limited to, risks related to the closing of the Arrangement, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary approvals, licenses and permits and diminishing quantities or grades of reserves, political and social risks (including, but not limited to, in Guinea, Ivory Coast, Mali and West Africa more broadly), changes to the legal and regulatory framework within which Robex operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation, as well as the risks identified in the section titled "Risk Factors" in Robex's most recently filed Annual Information Form which is available on SEDAR+ at www.sedarplus.ca. Forward-looking Information is designed to help readers understand Robex' views as of that time with respect to future events and speak only as of the date they are made. Except as required by applicable law, Robex assumes no obligation to update or to publicly announce the results of any change to any Forward-looking Information contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the Forward-looking Information. If Robex updates any Forward-looking Information, no inference should be drawn that Robex will make additional updates with respect to such or other Forward-looking Information. All Forward-Looking Information contained in this announcement is expressly qualified in its entirety by this cautionary statement.
JORC CODE AND CIM DEFINITION STANDARDS
The term "Ore Reserve" defined by the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves prepared by the Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia ("JORC Code") is equivalent to the term "Mineral Reserve" defined by the CIM Definition Standards for Mineral Resources & Mineral Reserves adopted by the Canadian Institute of Mining, Metallurgy and Petroleum May 19, 2014 ("CIM Definition Standards"). "Inferred Mineral Resources", "Indicated Mineral Resources" and "Measured Mineral Resources" have the same meaning under both the JORC Code and CIM Definition Standards. "Proved Mineral Reserves" under the JORC Code has the same meaning as "Proven Mineral Reserves" under the CIM Definition Standards, and "Probable Mineral Reserves" under the JORC Code has the same meaning as "Probable Mineral Reserves" under the CIM Definition Standards. The JORC Code is an acceptable foreign code under NI 43-101.
Mineral Resources and Ore Reserve Estimates, and Production Targets
This announcement refers to PDI and Robex having combined Mineral Resource and Ore Reserve estimates of approximately 9.5Moz Au and approximately 4.5Moz Au respectively. Further information regarding the individual Mineral Resource and Ore Reserve estimates of each of PDI and Robex is set out below.
PDI
Mineral Resource and Ore Reserve Estimates
The Mineral Resource estimates for the NEB and BC projects were released to ASX on 7 August 2023 in an announcement by PDI titled "Bankan Mineral Resource Increases to 5.38Moz" and the Mineral Resource estimates in respect of the Fouwagbe and Sounsoun projects were released to the ASX on 23 April 2025 in an announcement by PDI titled "Maiden Argo Mineral Resource Estimate of 153koz". The Ore Reserve estimate in respect of the Bankan Project was released to ASX on 25 June 2025 in an announcement by PDI titled "Bankan DFS Confirms Outstanding Project Economics". PDI confirms it is not aware of any new information or data that materially affects the Mineral Resource or Ore Reserve estimates and all material assumptions and technical parameters underpinning the Mineral Resource and Ore Reserve estimates in the relevant market announcement continue to apply and have not materially changed, noting that PDI intends to appeal the Argo (and Bokoro) revocations announced on 28 May 2025 in accordance with the Mining Code, and that the Argo Inferred Mineral Resources account for just 2.8% of PDI's overall Mineral Resource.
Production Targets
The Production Targets and forecast financial information in respect of the Bankan Project were released to the ASX on 25 June 2025 in an announcement by PDI titled "Bankan DFS Confirms Outstanding Project Economics". PDI confirms that all the material assumptions underpinning the Production Targets and forecast financial information derived from the Production Targets in the previous announcement continue to apply and have not materially changed.
Robex
Mineral Resource and Ore Reserve Estimates
The Mineral Resource and Ore Reserve estimates in respect of Robex's Kiniero Project were released to ASX on 22 August 2025 in an announcement by Robex titled "Amendment to Kiniero Gold Project Technical Report", and in respect of the Nampala Project in an ASX announcement by Robex dated 6 May 2025 titled "Replacement Prospectus". Robex confirms that it is not aware of any new information or data that materially affects the Mineral Resource and Ore Reserve estimates included in the relevant market announcement and all material assumptions and technical parameters underpinning the estimates in the announcement continue to apply and have not materially changed.
Production Targets
The production targets and forecast financial information in respect of Robex's Kiniero Project was released to ASX on 22 August 2025 in an announcement by Robex titled "Amendment to Kiniero Gold Project Technical Report", and in respect of the Nampala Project in an ASX announcement by Robex dated 6 May 2025 titled "Replacement Prospectus". Robex confirms that all the material assumptions underpinning the production targets and forecast financial information derived from the production targets in the relevant market announcement continue to apply and have not materially changed.
National Instrument 43-101
All scientific and technical information in this presentation relating to Robex has been reviewed and approved by Mr. Jeames McKibben, a Chartered Professional Fellow of the Australian Institute of Mining and Metallurgy and a member of the Australian Institute of Geoscientists, and a "qualified person" as defined in NI 43-101.
Readers are referred to the technical report for the Nampala Project entitled "Independent Technical Report on the Nampala, Mininko, Gladie and Kamasso Permits and a Mineral Resource and Reserve Estimate of the Nampala Gold Mine, Mali, West Africa" effective September 30, 2024 (the "Nampala Technical Report), and the amended and restated technical report for the Kiniero Project entitled "Technical Report, Kiniero Gold Project, Guinea (Amended)" with an effective date of December 6, 2024, as amended and restated on June 12, 2025 (the "Kiniero Technical Report"), each of which has been prepared in accordance with NI 43-101 and is available on Robex's profile on SEDAR+ at www.sedarplus.ca.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
PDI ORE RESERVE AND MINERAL RESOURCE STATEMENT
Bankan Ore Reserve Statement1,2
| Deposit | Mining Method | Classification | Tonnage (Mt) | Gold Grade (g/t Au) | Contained (Koz Au) |
| NEB | Open Pit | Probable | 40.2 | 1.36 | 1,751 |
| Underground | Probable | 7.9 | 3.95 | 1,002 | |
| Total | 48.1 | 1.78 | 2,753 | ||
| BC Open Pit | Open Pit | Probable | 3.5 | 1.78 | 200 |
| Total | 3.5 | 1.78 | 200 | ||
| Total Open Pit | 43.7 | 1.39 | 1,951 | ||
| Total Underground | 7.9 | 3.95 | 1,002 | ||
| Total Bankan Project | 51.6 | 1.78 | 2,953 |
Bankan Mineral Resource Statement3,4
| Deposit | Classification | Tonnage (Mt) | Gold Grade (g/t Au) | Contained (Koz Au) |
| NEB Open Pit | Indicated | 78.4 | 1.55 | 3,900 |
| Inferred | 3.1 | 0.91 | 92 | |
| Total | 81.4 | 1.53 | 3,993 | |
| NEB Underground | Inferred | 6.8 | 4.07 | 896 |
| NEB Total | 88.3 | 1.72 | 4,888 | |
| BC Open Pit | Indicated | 5.3 | 1.42 | 244 |
| Inferred | 6.9 | 1.09 | 243 | |
| BC Total | 12.2 | 1.24 | 487 | |
| NEB Area Total | 100.5 | 1.66 | 5,376 | |
| Fouwagbe | Inferred | 2.2 | 1.68 | 119 |
| Sounsoun | Inferred | 0.9 | 1.19 | 34 |
| Argo Area Total | 3.1 | 1.54 | 153 | |
| Total Bankan Project | 103.6 | 1.66 | 5,528 |
ROBEX MINERAL RESERVE AND RESOURCE STATEMENT
Kiniero Mineral Reserve and Resource Statement5,6
| Deposit | Tonnage (Mt) | Gold Grade (g/t Au) | Contained (Moz Au) |
| Probable | |||
| Jean | 4.2 | 1.53 | 0.20 |
| SGA | 5.1 | 1.52 | 0.25 |
| SGD | 3.4 | 1.34 | 0.14 |
| Sabali South | 7.4 | 0.89 | 0.21 |
| Sabali North and Central | 1.5 | 0.96 | 0.05 |
| Mansounia | 17.7 | 0.81 | 0.46 |
| Stockpiles | 6.3 | 0.48 | 0.10 |
| Total | 45.5 | 0.97 | 1.41 |
| Indicated | |||
| SGA | 12.1 | 1.46 | 0.57 |
| Jean | 4.7 | 1.69 | 0.26 |
| Sabali North and Central | 3.7 | 1.21 | 0.14 |
| Sabali South | 11.1 | 0.91 | 0.32 |
| West Balan | 3.0 | 1.45 | 0.14 |
| Banfara | 0.9 | 1.00 | 0.03 |
| Mansounia Central | 24.0 | 0.78 | 0.60 |
| Stockpiles | 11.6 | 0.37 | 0.14 |
| Total | 71.2 | 0.96 | 2.20 |
| Inferred | |||
| SGA | 10.6 | 1.43 | 0.49 |
| Jean | 2.2 | 1.47 | 0.1 |
| Sabali North and Central | 0.7 | 1.39 | 0.03 |
| Sabali South | 2.7 | 1.01 | 0.09 |
| West Balan | 2.0 | 1.27 | 0.08 |
| Banfara | 0.7 | 1.45 | 0.03 |
| Mansounia Central | 26.3 | 0.82 | 0.7 |
| Stockpiles | 0.2 | 1.31 | 0.01 |
| Total | 45.3 | 1.05 | 1.53 |
Nampala Mineral Reserve and Resource Statement7,8
| Weathering Type | Tonnage (Mt) | Gold Grade (g/t Au) | Contained (Koz Au) |
| Probable | |||
| Oxide | 3.3 | 0.90 | 94.6 |
| Transition | 0.8 | 1.06 | 26.4 |
| Total | 4.0 | 0.93 | 121.0 |
| Indicated | |||
| Oxide | 5.9 | 0.84 | 158.3 |
| Transition | 2.1 | 1.13 | 76.0 |
| Fresh | 0.1 | 3.00 | 9.4 |
| Total | 8.0 | 0.94 | 243.7 |
| Inferred | |||
| Oxide | 0.3 | 0.79 | 8.1 |
| Transition | 0.2 | 1.62 | 8.5 |
| Fresh | 0.01 | 2.53 | 0.4 |
| Total | 0.6 | 0.95 | 17.0 |
________________________________
1 Refer to PDI ASX release "Bankan DFS Confirms Outstanding Project Economics" dated 25 June 2025.
2 Reserve cut-off: Open Pit 0.38-0.48 g/t Au, Underground 2.0 g/t Au.
3 Resource cut-off: NEB Open Pit indicated & inferred 0.5 g/t Au, NEB Underground inferred 2.0 g/t Au, BC Open Pit indicated and inferred 0.4 g/t Au, Fouwagbe and Sounsoun inferred 0.5 g/t Au.
4 In relation to the Fouwagbe and Sounsoun deposits (Argo Permit), PDI intends to appeal the Argo and Bokoro revocations announced on 28 May 2025 in accordance with the Mining Code. Refer to PDI ASX release "Argo and Bokoro Exploration Permits Update" dated 28 May 2025.
5 Refer to Robex announcement titled "Amendment to Kiniero Gold Project Technical Report" dated 22 August 2025 and the Kiniero Technical Report.
6 Resource/reserve cut-off grade (Resource at US$2,200/oz, reserves at US$1,800/oz): SGA, Jean and Banfara: laterite 0.3 g/t Au, saprolite (oxide) 0.3 g/t Au, saprock (transition) 0.3 g/t Au, fresh 0.4 g/t Au; Sabali South: laterite 0.3 g/t Au, mottled zone/saprolite/lower saprolite (oxide) 0.3 g/t Au, saprock (transition) 0.5 g/t Au, fresh 0.6 g/t Au; Sabali North and Central: laterite 0.3 g/t Au, saprolite (oxide) 0.3 g/t Au, saprock (transition) 0.6 g/t Au, fresh 0.6 g/t Au; West Balan: laterite 0.3 g/t Au, saprolite (oxide) 0.3 g/t Au, saprock (transition) 0.3 g/t Au, fresh 0.5 g/t Au; Stockpiles reported as Mineral Resources have been limited to those dumps which exhibit an average grade >0.3 g/t Au for the entire stockpile assuming no selectivity.
7 Refer to Robex announcement titled "Replacement Prospectus" dated 6 May 2025 and the Nampala Technical Report.
8 Resource cut-off grade (at US$2,200/oz): Laterite 0.35 g/t Au, Oxide 0.35 g/t Au, Transition 0.43 g/t Au, Fresh 1.89 g/t Au; Reserve cut-off grade (at US$1,800/oz): 0.4 g/t Au (laterite, mottled zone, saprolite and transition).
