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  • Prodigy Gold will raise $12 million in a placement to fund its exploration activities at its projects
  • The company will issue 100 million ordinary new shares at an offer price of 12¢ per share

Prodigy Gold will raise $12 million in a placement to fund its exploration activities at its projects.

The company will issue 100 million ordinary new shares at an offer price of 12¢ per share.

The placement will take place in a single tranche and is fully underwritten by Canaccord Genuity.

The funds will significantly strengthen Prodigy’s balance sheet and enable Prodigy to undertake exploration activities at the Company’s existing projects.

Funds will also be used for planned joint venture contributions, acquisition and farm-in opportunities and general capital work requirements.

Prodigy Gold is an exploration company with a unique greenfields and brownfields exploration portfolio in the Tanami Gold district in the Northern Territory.

The company firmly believes that the Central Desert is one of the final frontiers for gold discovery where further world-class deposits remain to be found.

In 2017, Prodigy collected large volumes of historic data and has generated a large number of high priority targets. Drilling at these targets has generated large scale bedrock gold anomalism.

Prodigy plans on advancing these targets with multiple aircore and RAB drilling programs.

Prodigy Gold remains steady on the ASX today and is currently selling shares at 15¢ per share.

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