Why the Predictive Discovery (ASX:PDI) share price is in a trading halt

This gold explorer isn’t going anywhere today…

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The Predictive Discovery Ltd (ASX: PDI) share price won’t be going anywhere on Monday.

This morning the gold exploration company requested a trading halt.

Why is the Predictive Discovery share price halted?

The Predictive Discovery share price was placed in a trading halt this morning at the company’s request.

According to the release, the request relates to its Bankan project in Guinea’s Siguiri Basin.

It commented: “The Company has received information that a media report is pending relating to the Company’s operations at the Bankan project in Guinea and requests a trading halt of its securities to allow it time to prepare an announcement so that the market is fully informed in relation to this issue.”

The company has requested that the Predictive Discovery share price be halted until the earlier of the release of its announcement or the commencement of trading on 13 October.

What is the report?

As of yet, the media report alluded to has not surfaced and therefore the “issue” in question has not been revealed.

However, it is worth noting that last month Guinea’s President Alpha Condé was ousted following a military coup.

And while the leader of the coup, Col Mamady Doumbouya, made miners exempt from a nationwide curfew, things can change rapidly in these circumstances.

Predictive Discovery shareholders are likely to have to wait patiently until Wednesday to get an answer.

They will no doubt be hoping that the news doesn’t have a negative impact on the Predictive Discovery share price. It has been smashing the market this year and was up almost 300% in 2021 prior to today’s trading halt.

This has been driven by some very promising drilling results from the Bankan project in recent months.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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