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Lundin family, Zijin Mining to buy stake in Australia's Predictive Discovery, shares rise

Feb 4 (Reuters) - Shares of Australia's Predictive Discovery (PDI.AX) , opens new tab were set for their best session in nearly six months on Tuesday after the gold explorer said that China's Zijin Mining (601899.SS) , opens new tab will invest A$24.1 million ($15.00 million), while Lundin family will invest A$45.1 million in it, to acquire a 3.5% and a 6.5% stake, respectively. Shares of the company gained as much as 13.2% by 0020 GMT and were set for their biggest single-day rise since mid-August, 2024. Meanwhile, the broader benchmark S&P/ASX 200 index (.AXJO) , opens new tab was up 0.6%. Predictive said it received firmed commitments from both parties to raise a total of A$69.2 million at an issue price of A$0.265 per share, the same as the company's last close on Jan. 31. Proceeds from the placement will be used to accelerate the miner's key asset Bankan Gold Project in Guinea, it said. Lundin family is a majority shareholder in Lundin Group, which manages public companies, such as Canada's Lundin Mining Corp (LUN.TO) , opens new tab, that are focused on the minerals, metals, renewables and energy sectors. ($1 = 1.6069 Australian dollars) Sign up here. https://www.reuters.com/markets/commodities/canadas-lundin-family-chinas-zijin-mining-buy-stake-australias-predictive-2025-02-03/
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