On April 15, 2026, Predictive Discovery Limited and Robex Resources Inc. completed their merger of equals, creating a leading West African gold production and development company. Effective as of April 15, 2026 in Québec, PDI, through its wholly owned subsidiary 9548-5991 Québec Inc., acquired all of the issued and outstanding common shares of Robex by way of a statutory plan of arrangement under the Business Corporations Act (Québec). The combined company has an implied market capitalization of approximately A$2.35 billion on a fully diluted, in-the-money basis.
Under the arrangement, Robex shareholders received 7.862 PDI shares for each Robex share held, following an amendment to the original exchange ratio of 8.667. Existing PDI shareholders and former Robex shareholders own approximately 51 percent and 49 percent of the merged company, respectively, on a fully diluted, in-the-money basis. The Robex shares were delisted from the TSX Venture Exchange effective at the close of market on April 17, 2026, and PDI shares began trading on the Toronto Stock Exchange on April 20, 2026 under the symbol “PDI.” The combined company remains listed on the Australian Securities Exchange.
The merger brings together two of West Africa's largest, lowest-cost and most advanced gold projects, with the combined company targeting production of more than 400,000 ounces of gold per annum by 2029. Its portfolio comprises PDI's tier-one Bankan Gold Project and Robex's Kiniero Gold Project, both in Guinea, together with the Nampala gold mine in Mali. The combined company is led by Matthew Wilcox, formerly CEO and managing director of Robex, as CEO and managing director, with Andrew Pardey serving as non-executive chairman.
Osler, Hoskin & Harcourt LLP acted as Canadian legal counsel to Robex Resources Inc., with a team led by Alan Hutchison that included Jean-Philippe Bertrand, Minji Park, Kim Maguire, and Fabrice Benoît. Peloton Legal Pty Ltd. acted as Australian legal counsel to Robex, Simmons & Simmons LLP advised Robex on African matters, BAO & Fils acted as Robex's Guinean counsel, and Crux Law Pty Ltd. acted as Robex's finance counsel.
Fasken Martineau DuMoulin LLP acted as Canadian legal counsel to Predictive Discovery, with a team led by John Sabetti and Zach Austin that included Richard Steinberg, George Soules, Brittany Vanword, and Arjun Sodhi (Capital Markets and M&A); Neil Kravitz (Cross-Border and International); Brandon Farber (Litigation); Remi Slama (Corporate/Commercial); Huy Do (Competition); Christopher Steeves (Tax); and Anthony Foreshew and Tom Chong (Articling Students). Herbert Smith Freehills Kramer acted as Australian legal counsel to Predictive Discovery, and ADNA advised Predictive Discovery on Guinean matters.