Prodigy Gold Inc fka PDG (PDG)

[Picassa]

TGR: Let's get into some of your favorite positions operating in Canada.

JW: One of my favorites is Prodigy Gold Inc. (PDG:TSX.V). The company is developing the Magino deposit in Ontario. Its Feb. 3 updated preliminary economic assessment (PEA) increased its resources and projected profitability.

TGR: It just did a financing, too.

JW: It just announced another 60,000 meters (m) of drilling and will issue a full feasibility study late this year updating the gold resource based on that drill program. It just keeps getting bigger and better. There is no longer much doubt that this will become a mine.

At this point, it has Indicated gold resources of more than 2.1 million ounces (Moz) at 1 gram per ton (g/t) and 1.7 Moz Inferred. At the end of the day, if it puts those Inferred ounces into an Indicated category, you are looking at a deposit of more than 4 Moz, going into production with a 250,000 ounce (Koz)/year production rate over 11 years.