PDI Gold (PDI) IMARC Investor presentation summary

Project overview and highlights

• Bankan Gold Project in Guinea is advancing rapidly, targeting tier-1 status with a 5.38Moz mineral resource and 3.05Moz ore reserve, supporting a 12-year mine life and average annual production of 269Koz gold.

• The project features robust economics: pre-production capital cost of US$456m, low capital intensity (US$1,695/oz), and low all-in sustaining costs (AISC) of ~US$1,130/oz.

• Benchmarking shows Bankan as Africa's largest advanced gold development project by production and lowest capital intensity, with a globally competitive grade and resource base.

• Significant exploration upside exists with multiple near-resource and regional targets, including ongoing drilling at BC, Gbengbeden, 800W, Argo, and Bokoro.

• Strong ESG focus, with comprehensive environmental and social impact assessments (ESIA), high community support, and robust stakeholder engagement.

Financial and operational metrics

• PFS Extension Case delivers a post-tax NPV5% of US$668m and IRR of 25% at US$1,800/oz gold, rising to US$1.4bn NPV and 42% IRR at US$2,300/oz.

• Initial capital cost is US$456m, with a payback period of 3.5 years; average C1 cash cost is ~US$970/oz.

• Average LOM gold production is 269Koz/year, with cumulative production of 3.2Moz over 12 years.

• Multiple ore sources (NEB, BC, Gbengbeden, 800W) and simple open pit/underground mining methods de-risk operations.

• Simple, conventional CIL processing with high recoveries (92.6% NEB, 89.5% BC) and potential for further cost reductions via grid power.

Resource and exploration upside

• NEB deposit hosts 3.99Moz open pit (1.53g/t) and 896Koz underground (4.07g/t), with high-grade zones and open extensions.

• BC deposit contains 487Koz (1.24g/t), with 50% in Indicated category and open down-plunge.

• Ongoing infill and resource conversion drilling at BC and Gbengbeden aims to upgrade Inferred to Indicated resources.

• Near-resource targets (800W, SB, Argo, Bokoro) show strong drill results, with maiden resources expected late 2024.

• Regional exploration at Argo and Bokoro South is yielding promising intercepts, supporting future resource growth.