PDI Gold Makes $5.1M Strategic Bet on West African Gold Explorer Skylark Minerals
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PDI Gold Limited (ASX: PDI) has announced on 2 November 2026 that it has made a strategic investment of $5.1 million to acquire a 9.9% stake of West African explorer Skylark Minerals Limited.
It is a part of Skyland’s larger $20 million two-tranche placement at $0.24 per share which will be utilised to fund its flagship Zaranou Gold Project in Cote d’Ivoire.
The deal includes two tranches with an initial tranche of $2.2 million settling on 6 November 2026 and a shareholder’s approved second tranche of $2.9 million in early December 2026.
The funds will be used to increase its Zaranou project interest from 51% to 90% and to accelerate drilling across a prospective 50 kilometre strike to build upon its updated 1.20 million ounce Inferred Mineral Resource.
Net proceeds will allow Skylark to increase its interest in the Zaranou project from 51% to 90%, and accelerate drilling across a prospective 50 kilometre strike to build upon its updated 1.20 million ounce Inferred Mineral Resource.
PDI Gold management has highlighted the asset's rapid resource tripling over the preceding 12 months and significant exploration upside across its three primary deposits as key justifications for establishing exposure to the emerging explorer.
This move complements PDI Gold’s wider West African portfolio that integrates early stage pipeline optionality alongside producing assets in Guinea and Mali and its Tier 1 Bankan Gold Project which underpins the company's long term production target exceeding 400,000 ounces per annum by 2029.
PDI Gold confirmed the investment will be funded entirely from existing cash reserves with no impact on Bankan development funding subject to a 24 month standstill and pro rata equity participation agreement.
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