Prodigy Gold Incorporated was created by unifying the assets of two Canadian Junior exploration companies: Kodiak Exploration Limited and Golden Goose Resources Inc. The company’s lead project is the advanced Magino Mine project, with Measured and Indicated gold resources of 453,190 ounces and Inferred gold resources of 1,178,120 ounces*. Currently the Magino Mine project is being evaluated as an open-pit mining opportunity with the potential for deeper, higher grade gold production. Prodigy is currently producing a new 43-101 compliant resource estimate emphasizing the open pit mining potential of Magino. This new resource estimate will be the basis for a Preliminary Economic Assessment (PEA) establishing the economic parameters of an open pit mining operation. The PEA will serve as a basis for a full bankable feasibility study expected in the first quarter of 2011. Bringing the Magino Mine project through the feasibility process and towards production has the potential to add substantial value to Prodigy share holders.
Prodigy's Beardmore-Geraldton gold exploration projects, Hercules, Milestone and West Geraldton, provide exposure to the upside of the exploration process: low cost ounces added through district scale evaluation. During 2011, Prodigy plans to continue aggressive exploration of the district with an emphasis on Milestone, a low grade gold system with considerable volume potential. Drilling will test multiple additional targets, seeking new areas to add gold resources.
Prodigy has strengthened its technical team in anticipation of the company transitioning from pure explorer to emerging gold producer. Strong Board leadership coupled with seasoned management positions the company to advance its projects with an emphasis on sound business planning coupled with an experienced exploration and mine development team. Demonstrated ability to procure financing means the company has the monetary resources to advance all its projects.
Today's Discoveries, Tomorrow's Future: Magino, Milestone, Hercules and more; multiple projects in the exploration and development pipeline; near term gold production potential; an aggressive approach to acquisition opportunities. These are the building blocks of the future of Prodigy: an outstanding young company with a strong bright future at a time of unprecedented gold prices.
*M &I: 2,092,000 mt grading 6.74 gpt gold. Inf: 5,829,000 mt grading 6.29 gpt. Cut-off grade of 3.0 gpt (Technical Report and Mineral Resource Estimate for the Magino Mine, prepared by InnovExplo, 28 May, 2009)
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