trending Market Intelligence /marketintelligence/en/news-insights/trending/CbCZpjNwd35VB5-GRDmpdw2 content esgSubNav
In This List

Prodigy Gold raising A$12M for exploration, expansion

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


Prodigy Gold raising A$12M for exploration, expansion

Prodigy Gold NL launched a placement to raise A$12 million to fund ongoing exploration, joint venture contributions, and acquisition and farm-in opportunities, as well as for working capital.

The company said Aug. 21 that it will issue approximately 100 million shares at 12 Australian cents apiece, with shares expected to be allotted and start trading on Aug. 29. The offering is fully underwritten by Canaccord Genuity (Australia) Ltd.

Prodigy Gold noted that the share price represents a 20% discount to the Aug. 20 closing price of 15 cents on the stock, and a 12% discount to its 15-day volume-weighted average price of 13.6 cents.

The company granted Newmont Goldcorp Corp. a 75% option on its Tobruk gold project in Australia's Northern Territory in May. Earlier in the year, it said the area of its Lake Mackay gold-copper joint venture with Independence Group NL had increased by 50% to 19,202 square kilometers.