Insights

Predictive Discovery (ASX:PDI) share price surges 23% on resources update

Shares in the Aussie gold miner are rocketing higher on Thursday
The post Predictive Discovery (ASX:PDI) share price surges 23% on resources update appeared first on The Motley Fool Australia. –

The Predictive Discovery Ltd (ASX: PDI) share price has rocketed 23% higher at the start of Thursday’s session after a resources update from the Aussie company.

Predictive Discovery share price surges 23% on resources update

Shares in the ASX small-cap resources company have been on fire this morning. That comes after an update on its Bankan Gold Project in Guinea.

The company reported a maiden mineral resource estimate of 3.65 million ounces at the site. Predictive Discovery announced an inferred mineral resource of 72.8 million tonnes at 1.56 grams per tonne of gold this morning.

The Aussie resources group recently discovered a high-grade zone that “presents significant potential for further growth”. News of the reserve estimate was good enough for investors with the Predictive Discovery share price surging higher on Thursday morning.

Resource discovery cost per ounce came in at A$4 per ounce with the company controlling 356 square kilometres within Guinea’s Siguiri Basin.

The Aussie miner also said scoping study-level metallurgical test work has been “very promising” with no recovery issues identified thus far.

This morning’s surge in the Predictive Discovery share price represents yet another good day for shareholders. Shares in the Aussie resources group previously rocketed 21% higher following solid drill results just a week ago with a 52% gain back in July.

It’s another welcome update from the company despite the share price paring back some gains following the open.

This morning’s share price surge comes amid broader market gains shown by the All Ordinaries Index (ASX: XAO). The broad market index has gained 0.84% at the time of writing and jumped above the 7,500 points mark.

The post Predictive Discovery (ASX:PDI) share price surges 23% on resources update appeared first on The Motley Fool Australia.

Should you invest $1,000 in Predictive Discovery right now?

Before you consider Predictive Discovery, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Predictive Discovery wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Predictive Discovery (ASX:PDI) share price zooms 21% on drill results
Why the Predictive Discovery (ASX:PDI) share price is rocketing 9%

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!