PDI Gold takes 9.9% stake in Côte d'Ivoire gold explorer Skylark in $3.58M deal
What's the deal? PDI GoldDealroom has a profile for this one. Try Dealroom → will invest US$3.3M for a 9.9% stake in Côte d'Ivoire gold explorer Skylark Minerals. The commitment anchors Skylark's US$12.9M two-tranche placement, priced at US$0.16 per share.
How is it structured? The deal splits into two tranches: about US$1.42M settling on November 6, 2026, and US$1.88M expected in early December, pending shareholder approval. A 24-month standstill clause caps PDI's stake at 9.9%, so this is a strategic investment rather than a takeover.
Why now? The investment follows a sharp upgrade at Skylark's flagship Zaranou project, where the inferred resource more than tripled to 1.2 million ounces in October after drilling confirmed mineralisation across two kilometres at M'Basso.
What's the endgame? Proceeds will fund further drilling and help Skylark lift its Zaranou interest from 51% to 90%. PDI, a South Perth-based West African gold producer, said the funds will strengthen Skylark's balance sheet and support its next phase of exploration. PDI will finance the stake from existing cash, with no impact on its Bankan project in Guinea.
"PDI Gold has established a substantial gold production and development business in West Africa, supported by an experienced team with a strong track record of advancing projects across the region," said Skylark executive chair Nikolai Zelenski.
What could go wrong? The second tranche still needs shareholder approval. Skylark's exploration results and future resource growth remain key execution risks.
The signal: The deal gives PDI a near-10% foothold in a fast-growing asset while signalling broader investor appetite for West African gold, echoed by recent financings such as Turaco GoldDealroom has a profile for this one. Try Dealroom →'s US$77.6M raise for its own Côte d'Ivoire project.
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Image credit: Phillie Casablanca
