Highlights:

• PDI Gold has established a 10.1Moz Mineral Resource base, including 4.8Moz of Ore Reserves.
• PDI Gold expects combined 2026 gold output from Kiniero and Nampala to range between 198,000oz and 220,000oz.
• Bankan could materially expand future output if permitting and development milestones progress as planned.

PDI Gold Expands Its West African Footprint

PDI Gold Limited (ASX: PDI) was trading at AU$4.610, down 0.4%, after releasing its updated Mineral Resources and Ore Reserves on 28 September 2026. The latest figures highlight the scale of the company’s enlarged West African portfolio following the Robex merger, while future market attention is likely to centre on operating performance, resource growth and the advancement of Bankan.

Gold Inventory Reaches 10.1Moz

PDI Gold now holds total Mineral Resources of 10.1Moz. Indicated Resources stand at 176.0 million tonnes grading 1.22g/t gold for 6.9Moz, while Inferred Resources total 87.8 million tonnes at 1.14g/t gold for 3.2Moz. The company also reported Probable Ore Reserves of 110.9 million tonnes grading 1.34g/t gold, representing 4.8Moz.

The Robex transaction added 3.991Moz to the Mineral Resource inventory. Mining depletion reduced the resource base by 260,000oz, although geological model revisions contributed 293,000oz and revised economic assumptions added a further 527,000oz.

Kiniero and Nampala Drive Near-Term Output

PDI Gold’s operating portfolio includes the Kiniero mine in Guinea and Nampala mine in Mali. Combined 2026 production guidance is 198,000–220,000oz. Kiniero is expected to contribute 157,000–174,000oz at an AISC of US$1,100–US$1,300/oz. Nampala is targeting 41,000–46,000oz, with AISC guidance of US$2,000–US$2,200/oz.

In the June 2026 quarter, the group poured 64,000oz and recorded gold sales of 49,000oz. Group AISC was US$1,408/oz, while cash and bullion stood at US$364 million.

Bankan Holds the Next Growth Trigger

Bankan remains the largest development opportunity within PDI Gold’s portfolio. The project contains a Mineral Resource of 5.53Moz and an Ore Reserve of 2.95Moz.

Current development assumptions indicate average annual production of about 250,000oz across a 12-year mine life. Pre-production capital is estimated at US$463 million, with life-of-mine AISC projected at US$1,057/oz.

The major near-term variable is permitting, with the mining permit still awaiting final presidential approval in Guinea. Engineering and procurement activities are continuing in parallel. Delivery at Kiniero, further resource additions and progress at Bankan could therefore remain central to how investors assess the company’s next stage of growth.

Note- All data presented is based on information available at the time of writing.

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