# 28 Apr 2026 Source Brief: https://evesgoldminers.com/research/source-briefs/predictive-discovery-ltd-2026-04-28-28-apr-2026-be93df89 Original source: https://pdi.live.irmau.com/pdf/e9a68fcd-d610-4a3d-99c7-af47b7c34f63/Quarterly-ActivitiesAppendix-5B-Cash-Flow-Report.pdf?Platform=ListPage Original published: 2026-04-28 EGM generated: 2026-09-04 Company: Predictive Discovery Ltd (PDI) ## Use Note This is the Eve's Gold Miners normalized Markdown copy of an official or regulatory public source. It is provided for readability, search discovery, and research resilience. The original source remains authoritative for legal, regulatory, and investment decisions. ## Extracted Document Text # 28 Apr 2026 Source: https://pdi.live.irmau.com/pdf/e9a68fcd-d610-4a3d-99c7-af47b7c34f63/Quarterly-ActivitiesAppendix-5B-Cash-Flow-Report.pdf?Platform=ListPage Published: 2026-04-28T00:00:00+00:00 Fetched: 2026-05-12T15:49:39.812+00:00 Source artifact: be93df89-02cf-44ad-9b29-69e672044d94 Normalizer input: text ## Content # 28 Apr 2026 Announcement 28 April 2026 QUARTERLY ACTIVITIES REPORT FOR PERIOD ENDED 31 MARCH 2026 Predictive Discovery Limited (ASX:PDI, TSX:PDI) (“PDI” or the “Company”) is pleased to announce its Quarterly Activities Report for the three-month period ended 31 March 2026. Post quarter, PDI’s merger with Robex Resources Inc. (“Robex”) was completed, and accordingly, this Quarterly Activities Report also includes information on Robex’s activities and financial position for the March quarter. HIGHLIGHTS1 • Merger between PDI and Robex advanced during the quarter and completed on 15 April 2026, creating a leading West African gold production and development company targeting 400,000oz Au per annum production by 2029.2 • Kiniero and Nampala mines produced a total of 48,178oz Au during the March 2026 quarter. • Average all-in sustaining cost (“AISC”) of US$1,192/oz across both operations, reflecting a 37% reduction driven by the commencement of lower-cost production at Kiniero. • Kiniero achieved a March quarter AISC of US$1,043/oz. • Gold sales totalled 41,799oz Au, representing a 271% increase relative to the December quarter as Kiniero production ramped up. • Cash margin from operations of US$139M, reflecting the strong cash generation at both the Kiniero and Nampala gold mines. • Group production guidance for 2026 is 198,000-220,000oz Au, comprising 157,000-174,000oz Au from Kiniero and 41,000-46,000oz Au from Nampala. Cost production guidance will be released in the June quarter, following two full quarters of production at Kiniero. • Bankan Project execution planning activities progressed in collaboration with the Robex development team. Front-end engineering design (“FEED”) advanced following contract award to Primero. Preparation underway for tendering of long lead items; several packages issued for tender. • As at 31 March 2026, Robex held A$351.2M (US$240.4M3) cash and A$189.9M (US$130M3) debt; PDI held A$32.5M (US$22.2M3) cash and no debt. Robex also held gold bullion of US$14.6M. 1 All figures in this announcement are unaudited. Amounts may not sum due to rounding. 2 2029 production based on Bankan Project 2029 estimated production of 272koz Au (assuming first production commences in April 2028) as reported in the Definitive Feasibility Study for the Bankan Project (as released by PDI to ASX on 25 June 2025 in its announcement titled “Bankan DFS Confirms Outstanding Project Economics”) and Kiniero Project 2029 estimated production of 155koz Au as reported in the updated feasibility study for the Kiniero Project (as released by Robex to ASX on 22 August 2025 in its announcement titled “Amendment to Kiniero Gold Project Technical Report”). 3 Based on an AUD:USD exchange rate of 0.6845 as at 31 March 2026. Robex’s cash balance at that date includes US$80 million in restricted cash and a US$10 million term deposit maturing on 9 April 2026. Predictive Discovery Limited ASX: PDI, TSX: PDI ABN 11 127 171 877 predictivediscovery.com 4 Charles Street, South Perth WA 6151 T +61 8 9216 1000 SUMMARY OPERATIONAL AND FINANCIAL METRICS Units Mar-26 Quarter Dec-25 Quarter Var % Gold Production oz 48,178 11,818 308% Gold Sales oz 41,799 11,272 271% Average Realised Price US$/oz 4,806 4,235 13% Revenue US$M 200.8 47.7 321% AISC US$/oz 1,192 1,894 (37%) Robex Cash Balance4 US$M 240.4 165.2 46% PDI Cash Balance US$M 22.2 29.4 (24%) Gold Bullion on Hand oz 3,154 790 299% • Gold production for the March 2026 quarter increased to 48,178 ounces, up 308% from 11,818 ounces in the December 2025 quarter. The increase was driven by the ramp-up of Kiniero production as operations expanded during the period, combined with continued steady output from Nampala. • Gold sales totalled 41,799 ounces, an increase of 271% compared to 11,272 ounces in the December 2025 quarter. The increase reflects higher production volumes across the portfolio, partially offset by timing of bullion shipments during the period. • Average realised gold price increased to US$4,806 per ounce, up 13% from US$4,235 per ounce in the December 2025 quarter. The improvement reflects stronger prevailing gold market prices during the quarter. • Revenue from operations increased significantly to US$200.8 million, up 321% from US$47.7 million in the December 2025 quarter, driven by higher gold sales volumes and improved realised pricing across operations. • Average AISC decreased to US$1,192 per ounce, down 37% from US$1,894 per ounce in the December 2025 quarter, reflecting improved operating leverage from higher production levels and lower-cost production at Kiniero. • Cash balance: Robex’s cash balance increased to US$240.4 million, up 46% from US$165.2 million in the December 2025 quarter. The increase reflects strong operating cash flow generation. • Gold bullion on hand increased to 3,154 ounces, valued at US$14.6 million based on a gold price at 31 March 2026 of US$4,629 per ounce. 4 Cash balance as at 31 March 2026 includes restricted cash of US$80 million and a term deposit of US$10 million maturing on 9 April 2026. Page 2 of 15 OPERATIONS AND PROJECTS Kiniero Gold Mine, Guinea Units Mar-26 Quarter Dec-25 Quarter Var % Financial Summary Gold Production (Poured) oz 38,178 790 4,733% Gold Sales oz 32,306 - - Average Realised Price US$/oz 4,808 - - AISC US$/oz 1,043 - - Production Summary Ore Mined dmt 2,137,273 1,133,860 88% Total Material Mined dmt 5,105,131 2,345,251 118% Stripping Ratio t:t 1.4 1.1 30% Processed Ore dmt 1,607,851 126,998 1,166% Head Grade g/t 0.87 0.96 (9%) Recovery % 90.1 80.0 13% Gold Recovered5 oz 40,573 3,131 1,196% • Total Material Mined: During the March 2026 quarter, total material mined increased to 5,105,131 tonnes, up 118% from 2,345,251 tonnes in the December 2025 quarter. This included 2,137,273 tonnes of ore mined, an 88% increase quarter-on-quarter, with the balance comprising waste material. The strong uplift reflects increased mining activity and higher operational output across active pit areas, demonstrating strong operational mining performance. • Ore Processed: 1,607,851 tonnes of ore were processed during the March 2026 quarter, up from 126,998 tonnes in the December 2025 quarter. The increase reflects substantially higher plant throughput compared to the prior period, which was characterised by limited processing activity and staged commissioning of equipment, including crushers and milling circuits. • Head Grade: Average head grade for the March 2026 quarter was 0.87g/t, a decrease of 9% from 0.96g/t in the December 2025 quarter. The reduction reflects the processing of a broader ore blend as mining activities expanded across different zones of the orebody. • Recovery: Gold recovery for the March 2026 quarter improved to 90.1%, up from 80.0% in the December 2025 quarter. The improvement reflects strong metallurgical performance, with enhanced process stability and improved overall recovery across the processing plant. 5 Gold recovered differs from the figure reported on 7 April by Robex following reconciliation adjustments and updates to smelter returns. Page 3 of 15 Nampala Gold Mine, Mali Units Mar-26 Quarter Dec-25 Quarter Var % Financial Summary Gold Production (Poured) oz 10,000 11,028 (9%) Gold Sales oz 9,493 11,272 (16%) Average realised price US$/oz 4,800 4,235 13% AISC US$/oz 1,699 1,894 (10%) Production Summary Ore Mined dmt 658,907 518,297 27% Total Material Mined dmt 2,808,365 2,534,890 11% Stripping Ratio t:t 3.3 3.9 (16%) Processed Ore dmt 504,354 582,618 (13%) Head Grade g/t 0.71 0.68 4% Recovery % 86.4 87.2 (1%) Gold Recovered oz 10,000 11,028 (9%) • Total material mined increased to 2,808,365 tonnes, up 11% from 2,534,890 tonnes in the December 2025 quarter. This comprised 658,905 tonnes of ore mined, representing a 27% increase quarter-on- quarter, with the balance consisting of waste. The increase in ore mined and overall material movement reflects improved access to ore zones following the completion of elevated waste stripping undertaken in prior quarters, which was strategically focused on removing overburden to facilitate access to deeper ore zones. • Total ore processed during the March 2026 quarter was 504,354 tonnes, representing a 13% decrease from 582,618 tonnes in the December 2025 quarter. Despite the lower quarter-on-quarter throughput, the Nampala mine delivered a strong operational performance during the quarter, with processing rates averaging 291t/h. This performance reflects improved plant efficiency and stable operations during the quarter. • Average Head Grade for the March 2026 quarter was 0.71g/t, an increase of 4% from 0.68g/t in the December 2025 quarter. The improvement reflects a higher proportion of relatively higher-grade ore feed, supported by improved access to exposed ore zones following prior stripping activities. • Gold recovery for the March 2026 quarter was 86.4%. The result reflects normal operational factors during the period and resulted in a modest reduction in overall gold recovery. Page 4 of 15 Bankan Gold Project, Guinea Execution planning activities at Bankan advanced during the quarter in collaboration with the Robex development team, with the intention of being able to commence construction as soon as possible after the award of the Exploitation Permit, which remains in the final stage awaiting issuance to PDI’s local subsidiary. The tender package for FEED was awarded to Primero to progress the process design, develop the detailed project layout, and define and tender long lead mechanical equipment. Process review is well underway with refinements being made to the DFS process plant design and flowsheet. The optimised process flowsheet and process design criteria are nearing completion and the process and instrumentation diagrams are advancing. Layout development is progressing with the primary crushing and oxide crushing areas well-defined. Identification of long lead items has been completed and the tender processes are being advanced. Multiple packages have been issued for tender, including the power station, the SAG and ball mills, primary crusher, primary feeder and vibrating grizzly feeder. A recommendation for the power station has been issued for board approval and recommendations for the SAG and ball mills are in progress. Tender packages for structural steel and platework fabrication are in development. The development team is also investigating alternative shipping options for the bulk structural steel and platework into Guinea based on the learnings from Kiniero’s construction. Environmental and social activities focused on advancing key workstreams required to support future construction. Environmental baseline monitoring continued and key technical studies were advanced, including completion of water modelling and progress with biodiversity data collection. Engagement with environmental authorities continued in relation to proposed cooperation frameworks and management of environmental and social measures, alongside preparation for further field activities and specialist studies. Land access and resettlement activities progressed to completion of baseline surveys, with all asset inventory and household data collected. HEALTH AND SAFETY PDI reported zero recordable injuries in the March 2026 quarter, with its rolling 12-month total recordable injury frequency rate (“TRIFR”) remaining at 0.0 as at 31 March 2026. Robex recorded one medical treatment injury at Kiniero during the quarter and no lost time injuries (“LTIs”), with its rolling 12-month TRIFR improving to 2.3 as at 31 March 2026, from 3.4 at 31 December 2025. During the quarter, PDI exceeded 2.0 million LTI-free hours in G [Excerpt trimmed for readability. Open the original source for the complete filing or document.]