Investing in African Mining Indaba 2017
Across the continent, the Africa Mining Vision, adopted by African heads of state in 2009, is gaining momentum with broader development imperatives aimed at integrating mining into industrial and trade policy.
As Africa develops, so its sovereign and operating risk will diminish, and its infrastructure will improve. Already the African Development Bank expects growth across African economies to accelerate next year to reach 4.2 percent in 2018.
A case in point is Nigeria, which has embarked on a long-term development of its mining sector, targeting $5 billion in investments over the next 10 years under a new industry roadmap. It recently also issued a three-year tax holiday for investors in the mining sector.
Predictive Discovery ‘leading the West African discovery pack’, says Sprott in initial report
The company has made a second satellite discovery at its NE Bankan Project, with 14 metres at 4.0 g/t and 37 metres at 1.8 g/t in the first hole. With both discoveries made only last year, a maiden resource is targeted this year.
Predictive Discovery Ltd (ASX:PDI) has secured a BUY rating and price target of A$0.16 per share from Sprott Equity Research which initiated coverage of the explorer in a report titled ‘Initiation: leading the West African discovery pack.’
The company’s flagship NE Bankan open pittable gold asset in Guinea was only discovered last year, with the main deposit extending over 1.3 kilometres and diamond-drill highlights of 52 metres true thickness (TT) at 2.9 g/t and 82 metres (TT) at 1.8 g/t demonstrating the scale and grade.