PRX - Prodigy Gold

[mr. jeff]

SP $ 0.061
MC $197M

Cash at June $ 23M

The important slides from latest update;





Shows the porphyry resource.

The other thing to note is that they have not seemingly got a development plan in place yet. This is the main concern - all this drilling and capital, all that gold resource, they need to get moving. Mentioned by others already is that they need a 10x share consolidation to break the die as well.

Get some production plans and start making some money while gold is strong. No plans means that you are at least 18 months from making money and moving from a junior explorer to junior producer with exploration upside.
Otherwise perhaps a takeover and roll up into something with more access to development money. A mid sizer could take the ground on with that stand alone 3 year operation which would nearly pay takeover cost back and hand them exploration ground, plus a 2MOz+ JORC'd resource. Lets say 9cps, just get APAC's 19.9% major holding pre-approval.

 

[mr. jeff]

Failed to clear the 6c level again.
Round and round we go, eventually it will move above...

 

[BELLS REEF]

Hi

New holder of ABU and I can't add much of value to the thread, but these attached links are to videos of the Old Pirate site (I think). It looks like footage taken at the establishment stage of the project; some well chosen background music too. -----


http://www.youtube.com/watch?v=wSFqpU2_GQE

http://www.youtube.com/watch?feature=player_detailpage&v=qLY3c08EXOw

BELLS

 

[Guardian2014]

As a holder of ABU I am wondering if the Old Pirate has just taken our money.

Does anybody have any views on this stock?
currently at .026 cents.

 

[MVFC182]

As only a holder of ABU as of this year its interesting to read the past discussion. Some really positive announcements lately and I truely believe these guys are kicking goals.

Currenly 42c, up around the all-time high. I'll be holding onto this and enjoying the ride

 

[System]

On May 21st, 2018, ABM Resources NL (ABU) changed its name and ASX code to Prodigy Gold NL (PRX).

 

[greggles]

Strong move north on high volume today for Prodigy Gold after announcing that it has signed a binding Exploration Farm-in and Joint Venture Agreement with Newmont Exploration Pty Ltd, a wholly owned subsidiary of Newmont Goldcorp Corporation, to advance exploration at the Company's Tobruk Project in the Northern Territory, which is adjacent to Newmont Goldcorp's Callie Gold Mine.

Key Agreement Terms

Earn-in:

Phase 1:

• Newmont Goldcorp to make a nonrefundable A$1.5 Million payment within 20 business days of signing the Agreement;
• NewmontGoldcorp can earn a 51% interest in the Project by spending A$6 Million on exploration on the Project over a period of four years;
• Newmont Goldcorp may withdraw during Phase1 after spending a minimum A$2.5Million;
• Newmont Goldcorp will be manager of the Project.

Phase 2:

• Newmont Goldcorp may elect to increase its interest in the Project to 70% by:

• making an additional cash payment of A$1 Million within 20 business days of electing to proceed to Phase 2;and
• spending an additional A$6 Million on exploration within three years from electing to commence Phase 2;or
• defining a JORC resource of over 500koz

Joint Venture

• Joint venture commences after Newmont Goldcorp earns a 51% interest in the Project (completion of Phase 1);
• Newmont Goldcorp may then elect to earn an additional 19% interest in the Project to increase its aggregate interest to 70%, triggering the Phase 2 earn-in (refer to previous section).

This is good news for Prodigy Gold with the agreement with Newmont designed to fast track exploration of the Tobruk Project.

The PRX share price has jumped up 10.47% to 9.5c today with an intraday high of 11c. Volume of more than 1.6 million shares is the second highest daily volume in the last 12 months.

 

[Telamelo]

PRX seems cheap @ 8.6c very bulish looking chart with extensive gold drilling underway in the NT - previously reported quite high-grade gold samples so seems to me like a decent risk/reward play imo

https://www.marketindex.com.au/asx/prx

https://asx.swingtradebot.com/equities/PRX:ASX

DYOR as always.. Cheers tela

 

[Telamelo]

PRX recent Quarterly

 Exploration staff now on the ground at Tanami tenements following COVID-19 delays
 Prodigy Gold to screen 19 high priority targets for large-scale gold deposits during the
FY2021 field season across the Tanami and North Arunta Regions
 Exploration work will comprise up to 27,000m of aircore drilling - campaigns of field
mapping and geochemical sampling of drill spoils and rock chips will be run concurrent to
the drilling programs
 Northern Territory co-funding application successful for planned RC drilling on the Lennon
Prospect on the North Arunta Project
 Western Australia EIS co-funding application successful for planned RC drilling on Lake
Mackay JV tenement
 COVID-19 management plan in place for safe activity in the NT and for the return of staff to
their place of residence. All planned exploration occurs more than 50km from communities
in the Tanami and North Arunta

Joint Ventures:
 Lake Mackay (IGO) – Six targets with RC and diamond drilling planned for Lake Mackay in
FY2021
 Euro (Newcrest) – No activities were completed in the Tanami Province during the quarter
due to COVID-19 restrictions
 Tobruk JV (Newmont) – Results of deep sensing geochemical surveys has identified three
targets

 Managing Director’s presentation at Noosa Mining Virtual Conference in July 2020
 Prodigy maintains a healthy cash balance of A$10.7M at 30 June 2020

https://www.asx.com.au/asxpdf/20200731/pdf/44l1fpw78q046m.pdf

 

[finicky]

Amost a 3 bagger since the March low due to the China Plague.
Candidate for my crash spec list although haven't read it up yet.

 

[Telamelo]

PRX going well +11.39%! plenty of drilling underway as we speak..

 

[Telamelo]

USD gold price down $35 to $2035 however because of a .007 drop in AUD against USD, our AUD gold price is only down 18cents closing at about $2,843.80oz AUD

Aussie gold stocks at the current record gold prices are very profitable indeed so no better time than to be drilling/mining etc. to find more gold!

https://www.investorstream.com.au/prodigy-gold-release-august

https://www.prodigygold.com.au/projects/

Cheers tela

 

[Telamelo]

Guy Le Page of RM Corporate Finance recently had this to say:

The other big news this past week was the gold price smashing through a new record to over $US2070 (AUD$2851) an ounce.

“There’s no end to that at the moment,” Le Page said.

The strong moves this week prompted RBC Capital Markets to launch a new ‘high’ scenario where gold crosses $US3,000/oz (AUD$4,139/oz).

 

[Telamelo]

PRX another green day @ .086c +4.88%

Cheers tela

 

[Telamelo]

PRX recent "Golden Cross" occurred on 7th Aug meaning the 50dma crossed above it's 200dma (bullish sign!)

https://asx.swingtradebot.com/equities/PRX:ASX

Cheers tela

 

[Padowan]

On the 23 March 2021 Prodigy gold reported a wide drilling intersection of sulphides to the ASX,

the laboratory testing of the sulphides intersected in drilling is being completed

hopefully they will get reported in April, as I have picked PRX in the monthly competition

 

[greggles]

Well, @Padowan's post above was a sign of what was to come, with Prodigy Gold announcing today that is has intercepted "exceptional" high grade copper intersections at the Phreaker Prospect within the Lake Mackay JV.

The grades are better in 21PHDD002 but it does look promising. The drilling to date is very broad spaced so there will need to be more done to define the resource properly.

The share price spiked hard early, hitting an intraday high of 7.8c before steadily declining to be currently at 5.8c, up 11.54% from yesterday's close of 5.2c.