Prodigy Gold

Good stuff exguy. Also correct - a PEA can use Measured, Indicated and Inferred, whereas a Feasibility Study (or even Pre Feasibility Study) can only use Proven and Probable.

The number of ounces always tends to drop with that transition, as a good bit of the Inferred get thrown out. The strategy generally is to do a lot of infill drilling between the two to get the number back up.

The 3.25 million oz is just a "possible" figure I gave at 30% probability - my 70% says 2.x million oz. But there are multiple reasons for the resource estimate to go up, as you outlined.

Remember the classic mining chart showing the stages of a mining company - when you get to Feasibility and mine planning, often the stock drops precipitously, as then you need a buyer or very deep pockets.

http://i.imgur.com/PDSDS.jpg