Predictive Discovery Limited announced on 28 May 2025 that it has been informed by Guinea’s Ministry of Mines and Geology that over 100 exploration permits have been revoked. Among these, the Argo and Bokoro exploration permits held by entities within the company’s group are affected. The company had previously submitted applications for extensions for these permits in 2021 and 2023, respectively. Although no formal communication has yet been received from the Guinean authorities regarding the matter, Predictive Discovery Limited intends to appeal the revocations in accordance with the country's Mining Code. Notably, the Kaninko and Saman exploration permits, which play a significant role in the Bankan Gold Project’s exploitation permit application by accounting for 5.38 Moz of the overall 5.53 Moz mineral resource, remain unaffected. The news also highlighted recent progress on the Bankan exploitation permit application. The application was reviewed by the Ministry’s Comité Technique des Titres last week and has now been forwarded to the National Mining Commission, signaling a key step forward in the regulatory process. This advancement is particularly important given the significant share of the company's overall mineral resource contained within this project. Technical details from previous announcements were reiterated, including the mineral resource estimates for the NEB and BC deposits and the inferred resources from the Fouwagbe and Sounsoun deposits. For instance, the NEB open pit project includes an indicated resource of 3,900 Koz at 1.55 g/t Au and an inferred resource of 92 Koz at 0.91 g/t Au, with underground inferred resources yielding an additional 896 Koz at 4.07 g/t Au. Similarly, the BC open pit totals 487 Koz, while the Argo area contributes 153 Koz. Overall, the Bankan Project comprises approximately 103.6 million tonnes grading 1.66 g/t Au, containing a total of 5,528 Koz of gold. Market sentiment on the announcement presents both positive and cautious perspectives. On the bullish side, the advancement of the Bankan exploitation permit process coupled with robust technical resources reinforces confidence in the asset’s potential and the company’s strategic progress in the region. However, the revocation of the Argo and Bokoro permits introduces uncertainty regarding near-term exploration activities and regulatory challenges, aspects which may be viewed as bearish by investors mindful of exploration risks.