Robex greenlights $1.45B merger with Predictive Discovery

Reuters | December 30, 2025 | 5:18 pm Markets Australia Canada Gold

Predictive Discovery drilling off the Bankan project, in Guinea. (Image courtesy of Predictive Discovery.)

Australia’s Predictive Discovery said on Wednesday, shareholders of Canada’s Robex Resources approved a A$2.17 billion ($1.45 billion) merger, paving the way to create a mid-tier gold producer in West Africa.

At Robex’s special meeting, around 94.54% of votes backed the deal under which Predictive would acquire the Canadian gold miner with Robex shareholders receiving 7.862 fully paid ordinary shares in Predictive for each Robex share.

Post-merger, Robex shareholders would own around 46% of the combined entity.

The tie-up would create a more diversified gold producer in West Africa, combining Predictive’s Bankan project with Robex’s Kiniero mine, which has recently commenced commissioning activities.

These assets, located just 3  kilometres apart in Guinea, offer significant operational synergies.

The merged entity would have a market capitalization of around $2.4 billion, as per LSEG data.

Shares of the company fell as much as 5.2% earlier in the session before closing 3.9% down.

“Investors sell on uncertainty, not headlines,” said Greg Boland, market strategy consultant at Moomoo Australia, adding that the drop in the share price reflects integration and execution risks, dilution concerns, as well as profit-taking after a strong rally in gold prices.

Predictive, headquartered in Western Australia, was once at the centre of a potential bidding war with fellow miner Perseus Mining circling the firm as well.

Earlier in December, gold miner Perseus tabled a takeover offer valuing Predictive at A$2.1 billion, higher than Robex’s A$1.32 billion bid earlier in October.

Perseus Mining gatecrashes Predictive-Robex gold tie-up

However, on December 11, Perseus dropped its pursuit of Predictive after rival bidder Robex had hiked its offer to A$2.17 billion.

The deal comes at a time of surging gold prices, repeatedly hitting record highs. The bullion has gained over 60% this year and was set to log its best year since 1979.

($1 = 1.4937 Australian dollars)

(By Sneha Kumar and Rajasik Mukherjee; Editing by Tasim Zahid)