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Cormark.. i.e. maybe Sprott... was solely responsible for sell-off yesterday. 526,765 shares sold sounds like fund volume to me. The good news IMO is that selling was isolated to them and them only. They caused all of the price depreciation yesterday. Hopefully when they are done we get a nice bounce. red911
House Positions for C:PDG from 20120131 to 20120131
House
Bought
$Val
Ave
Sold
$Val
Ave
Net
$Net
80 National Bank
317,100
267,848
0.845
132,500
112,915
0.852
184,600
-154,933
33 Canaccord
164,000
137,900
0.841
16,167
13,740
0.85
147,833
-124,160
29 Casimir
137,500
116,605
0.848
0
137,500
-116,605
2 RBC
76,359
62,763
0.822
5,012
4,109
0.82
71,347
-58,654
1 Anonymous
165,500
132,445
0.80
104,500
88,850
0.85
61,000
-43,595
85 Scotia
102,782
86,482
0.841
43,272
36,017
0.832
59,510
-50,465
79 CIBC
143,800
119,790
0.833
88,200
71,467
0.81
55,600
-48,323
9 BMO Nesbitt
29,000
24,690
0.851
1,000
810
0.81
28,000
-23,880
19 Desjardins
38,000
31,940
0.841
18,194
15,271
0.839
19,806
-16,669
22 Fidelity
8,500
7,190
0.846
0
8,500
-7,190
101 Newedge
6,500
5,220
0.803
0
6,500
-5,220
57 Interactive
1,500
1,170
0.78
200
168
0.84
1,300
-1,002
36 Latimer
5,873
4,874
0.83
5,500
4,595
0.835
373
-279
95 Wolverton
3,310
2,777
0.839
4,114
3,479
0.846
-804
702
39 Merrill Lynch
2,000
1,670
0.835
3,000
2,480
0.827
-1,000
810
11,000
9,310
0.846
-11,000
9,310
99 Jitney
17,000
14,330
0.843
61,000
50,960
0.835
-44,000
36,630
7 TD Sec
34,200
28,447
0.832
232,500
199,154
0.857
-198,300
170,707
526,765
432,816
0.822
-526,765
432,816
TOTAL
1,252,924
1,046,141
0.835
1,252,924
1,046,141
0.835
0
0
IMO we could see nice delayed reaction later today or tomorrow... we are now getting support from our anaylst houses and not much for sale. red911
The SW extension and Lovell Lake prelim exploratory drilling is great as it confirms there is likely more gold on this property yet to be discovered but the highlight of this NR IMO was once again the infill drilling and that "These and other drill holes reported below document thick intervals of gold mineralization that were not included in previous Magino gold resource estimates". Remember, these 'infill' holes that many often dismiss are what added 1 million or so open-pittable ounces at 0.5 g/t in 2011 alone. A 200m intercept at 1.27 g/t Au (and other relatively high grage holes here) that were previously not included in resource estimate will add significant ounces with simple resource update. The other exploration areas will obviously required some more work but they did what they were supposed to do, confirm possibility of more gold at Magino. The deep holes will be interesting... i.w. what lies directly below this open pit? Anyone ask them about status of these? Drilled? To be drilled? Assays pending?
red911
Additional ounces... some very shallow. This deposit is getting bigger and bigger and bigger.
http://www.usetdas.com/TDAS/NewsArticle.aspx?NewsID=18939
red911
Prodigy Gold drills 203 m of 1.27 g/t Au at Magino
2012-01-24 08:56 NT - News Release
Mr. Brian J. Maher reports MAGINO DRILLING EXPANDS GOLD ZONE IN MAIN DEPOSIT: 203 METRES GRADING 1.27 GPT AU; CONFIRMS SOUTHWEST EXTENSION TO DEPOSIT Prodigy Gold Inc.'s resource expansion and step out drilling at its Magino mine gold project in Ontario has intercepted significant gold mineralization in multiple areas: Prodigy completed 54 core drill holes totaling 18,077 metres (including condemnation drilling), augmenting and expanding the Magino gold resource potential. Magino in-fill and resource expansion drilling: Highlights include 203 metres grading 1.27 gpt gold in drill hole MA11-177 and 164 metres grading 1.09 gpt gold in drill hole MA11-136. These and other drill holes reported below document thick intervals of gold mineralization that were not included in previous Magino gold resource estimates. Drill hole MA11-149 intercepted 19.0 metres grading 3.38 gpt gold starting at a vertical depth of 227.5 metres, contiguous to other high grade intercepts. Deeper, higher grade gold mineralization, documented in resource estimates, continues to be consistent in the Magino gold deposit. All of the drill holes reported herein were completed after the recent Magino gold resource estimate (NI 43-101 Technical Report dated November 2, 2011) and subsequent Preliminary Economic Assessment (PEA) outlined in a press release dated December 22, 2011 and have the potential to increase minable gold resources at Magino. Additional drilling is being planned for these areas. A complete drill hole table for all 28 in-fill and resource expansion drill holes (10,400 metres) is presented below. Southwest extension of the Magino gold deposit: In late 2011, Prodigy completed an initial test of the southwest extension of the Magino gold deposit (2,054 metres in seven drill holes). The preliminary results confirm widespread gold mineralization southwest of the main Magino gold deposit: 127 metres grading 0.84 gpt gold in drill hole MA11-160. Drilling in this area was preliminary, six drill holes in three fences spaced 100 metres apart. All of these drill holes intercepted gold mineralization, confirming a 300 metre extension to the main Magino gold deposit. Further drilling is planned for this area and farther to the southwest where the gold deposit is unconstrained by drilling. A complete drill hole table and drill hole location map for the southwest extension drilling program is presented below. Lovell Lake area: Preliminary drilling in the Lovell Lake area, 200 metres west of the main Magino gold deposit, also intercepted encouraging gold mineralization: 29 metres grading 1.01 gpt gold in drill hole MA11-162. Gold mineralized drill holes at Lovell Lake, as well as historic drilling, are clustered in a gold mineralized zone with at least 300 metres of strike length. Additional drilling is being planned in the area, targeting potential expansion of the overall Magino project resources. Highlights of the 3,846 metre, fourteen hole, Lovell Lake drilling program and a drill hole location map are shown below. Brian J. Maher, President and CEO of Prodigy Gold Inc. commented "Drilling in the main Magino gold deposit continues to demonstrate the potential to increase the total gold resource. These results, including the confirmation of a southwest extension to the Magino deposit, clearly indicate that the ultimate size of the deposit has yet to be determined. While we continue to grow the gold resource at Magino, we will revise pit optimization studies and evaluate possible expansion of the proposed open pit mining operation. Defining the full scale of the mining operation at Magino is a key step in completing a feasibility study for the project during 2012".* Within and adjacent to the main Magino gold resource,
* The southwest extension of the Magino deposit, and
* The Lovell Lake area 200 metres west of Magino deposit. -***-
Grade
From To 40
Dip Est. (Depth (Depth gpt
(Angle True Below Below Capped
Drill From To Length Azimuth below Thickness Surface Surface (gpt
Hole metres metres metres(360deg)surface) metres metres) metres) gold)
MA11-126 22.0 114.0 92.0 160.0 -50.8 69.9 16.9 87.3 1.06
INCL. 56.0 71.0 15.0 11.4 42.9 54.4 4.03
MA11-129 251.0 365.0 114.0 167.4 -51.4 86.6 192.3 279.6 0.87
INCL. 279.0 365.0 86.0 65.4 213.7 279.6 1.10
INCL. 349.0 365.0 16.0 12.2 267.3 279.6 2.34
MA11-130 259.0 355.0 96.0 162.2 -50.4 73.0 198.4 271.9 0.75
INCL. 330.0 355.0 25.0 19.0 252.8 271.9 1.20
MA11-132 193.0 210.0 17.0 164.8 -50.9 12.9 147.8 160.9 1.07
320.0 336.0 16.0 12.2 245.1 257.4 1.09
MA11-133 228.0 260.0 32.0 164.3 -49.7 24.3 174.6 199.2 0.43
MA11-134 284.0 348.0 64.0 161.6 -50.6 48.6 217.5 266.6 1.01
MA11-135 135.0 343.0 208.0 164.8 -49.8 158.1 103.4 262.7 0.70
INCL. 273.0 343.0 70.0 53.2 209.1 262.7 1.69
MA11-136 209.0 352.0 143.0 164.0 -47.9 108.7 160.1 269.6 1.09
INCL. 219.0 339.5 120.5 91.6 167.8 260.1 1.23
MA11-137 135.0 163.0 28.0 166.5 -50.6 21.3 103.4 124.9 0.75
321.0 359.0 38.0 28.9 245.9 275.0 1.01
MA11-138 262.0 343.0 81.0 166.4 -52.4 61.6 200.7 262.7 1.10
MA11-141 206.0 312.0 106.0 163.0 -50.0 80.6 157.8 239.0 1.01
MA11-143 301.0 353.0 52.0 165.2 -49.7 39.5 230.6 270.4 1.10
MA11-145 65.0 210.0 145.0 167.0 -48.7 110.2 49.8 160.9 0.55
INCL. 159.0 191.0 32.0 24.3 121.8 146.3 1.25
INCL. 223.0 249.0 26.0 19.8 170.8 190.7 1.09
MA11-149 268.0 395.0 127.0 171.4 -50.9 96.5 205.3 302.6 1.06
INCL. 268.0 355.0 87.0 66.1 205.3 271.9 1.34
297.0 316.0 19.0 14.4 227.5 242.1 3.38
MA11-151 203.0 341.0 138.0 167.7 -50.3 104.9 155.5 261.2 0.70
INCL. 280.0 341.0 61.0 46.4 214.5 261.2 1.06
INCL. 299.0 341.0 42.0 31.9 229.0 261.2 1.36
MA11-154 142.0 174.0 32.0 164.8 -47.4 24.3 108.8 133.3 0.82
426.0 452.0 26.0 19.8 326.3 346.2 1.13
MA11-156 160.0 185.0 25.0 165.3 -50.0 19.0 122.6 141.7 1.12
MA11-163 NSV NSV NSV 163.6 -49.6 NSV NSV NSV NSV
MA11-164 304.0 450.0 146.0 162.9 -50.5 111.0 232.9 344.7 0.83
INCL. 338.0 440.0 102.0 77.5 258.9 337.0 1.15
MA11-166 NSV NSV NSV 162.9 -48.5 NSV NSV NSV NSV
MA11-167 302.0 424.0 122.0 162.9 -49.5 92.7 231.3 324.8 0.85
INCL. 311.0 391.0 80.0 60.8 238.2 299.5 1.15
442.0 472.0 30.0 22.8 338.6 361.6 1.83
MA11-168 84.0 110.0 26.0 164.0 -49.2 19.8 64.3 84.3 1.03
INCL. 84.0 94.8 10.8 8.2 64.3 72.6 2.08
131.0 172.0 41.0 31.2 100.3 131.8 0.96
INCL. 146.0 172.0 26.0 19.8 111.8 131.8 1.39
INCL. 148.0 164.0 16.0 12.2 113.4 125.6 2.10
MA11-169 141.0 147.0 6.0 169.6 -48.9 4.6 108.0 112.6 1.65
MA11-170 NSV NSV NSV 166.1 -48.9 NSV NSV NSV NSV
MA11-171 61.0 84.0 23.0 164.7 -50.1 17.5 46.7 64.3 0.52
MA11-173 126.0 148.0 22.0 164.2 -49.6 16.7 0.0 0.0 2.42
MA11-176 NSV NSV NSV 163.9 -47.4 NSV NSV NSV NSV
MA11-177 228.0 431.0 203.0 166.7 -49.8 154.3 174.6 330.1 1.27
INCL. 257.0 341.0 84.0 63.8 196.9 261.2 2.20
-****-
Above, in-fill and resource expansion drilling, main Magino deposit area. NSV = no significant values.
-***-Grade
From To 40
Dip Est. (Depth (Depth gpt
(Angle True Below Below Capped
Drill From To Length Azimuth below Thickness Surface Surface (gpt
Hole metres metres metres(360deg)surface) metres metres) metres) gold)MA11-139 30.0 42.0 12.0 160.8 -52.3 9.1 23.0 32.2 0.64
MA11-140 127.0 150.0 23.0 162.4 -49.9 17.5 97.3 114.9 0.77
276.0 313.0 37.0 28.1 211.4 239.8 0.54
MA11-160 55.0 182.0 127.0 161.7 -50.6 96.5 42.1 139.4 0.84
MA11-161 71.0 125.0 54.0 162.1 -50.3 41.0 54.4 95.8 0.75
208.0 253.0 45.0 34.2 159.3 193.8 1.05
MA11-174 189.0 219.0 30.0 165.7 -47.7 22.8 144.8 167.8 0.55
MA11-178 255.0 278.0 23.0 160.0 -45.6 17.5 195.3 212.9 1.10
INCL. 387.0 400.0 13.0 9.9 296.4 306.4 0.96
MA11-182 NSV NSV NSV 157.6 -50.2 NSV NSV NSV NSV
-****-
Above, southwest Magino extension resource expansion drilling. NSV = no significant values.
-***-
Grade
From To 40
Dip Est. (Depth (Depth gpt
(Angle True Below Below Capped
Drill From To Length Azimuth below Thickness Surface Surface (gpt
Hole metres metres metres(360deg)surface) metres metres) metres) gold)MA11-142 158.0 162.0 4.0 163.2 -49.1 3.0 121.0 124.1 0.87
MA11-144 92.0 111.0 19.0 164.5 -53.0 14.4 70.5 85.0 0.58
135.4 150.0 14.6 11.1 103.7 114.9 0.56
MA11-155 293.7 301.0 7.3 169.7 -49.7 5.5 225.0 230.6 0.79
MA11-159 64.0 75.0 11.0 164.0 -49.6 8.4 49.0 57.5 0.42
209.0 220.0 11.0 8.4 160.1 168.5 0.90MA11-162 165.0 194.0 29.0 165.0 -51.6 22.0 126.4 148.6 1.0
MA11-165 74.0 90.0 16.0 168.8 -46.9 12.2 56.7 68.9 0.55
Above, highlights of resource expansion drilling, Lovell Lake area. NSV = no significant values.
Drill hole plan map, Magino Mine Project.
To view the drill hole plan map, click onto the link below or copy and paste into your browser: www.usetdas.com/maps/prodigy/pdgjan24002.jpg
Condemnation drilling totaling 1,777 metres in five drill holes was completed in areas being evaluated for possible waste dumps, tailings impoundments and process facilities. This program will continue in the first half of 2012.
We seek Safe Harbor.
Great new predentation. Nice to see them post it asap for all shareholders who can't attend conference.
"Transition from explorer to MINE DEVELOPMENT"... Like the sound of that. There is a definitely more of an emphasis on the mining details than we have ever seen before. Costs of less than $500/oz Au is fantastic. 42% institutional and insider ownership is very good. They still have nearly $30M which should be more than enough to get through to full feasibility due in the first half of this year. Hopefully no more dilution anywhere near these prices. We clearly see they have drill more than a few exploration holes to the SW (extension) and NW (new zone) yet we have not seen any results from these zones. They also have likely drilled deep and no results yet. I wonder if they will do another resource estimate update given all infill upgrading drill they are also doing. Either way lots of upside value driver here. They have the institutional support for anyone concerned about 250M shares out (which does not matter for a company with a deposit like this). With numbers like Magino has and being right in the middle of such a prolific mining region you can't help but think a Major or two must have their eyes on this deposit. An unsolicited takeover offer would be some very nice free publicity for PDG at this stage. Not saying they would even entertain such an offer unless at much higher prices but it would create alot more big player interest and put PDG officially 'in play'. Exciting times to come IMO. red911
I agree. Seems ridiculous for anyone to expect news before a show and that it will rocket share price upward.
I don't expect news merely pointing out the fact that news is due here. Also don't expect any sort of 'rocket' but if there was news (which may or may not come it really does not matter to me) I don't think a solid return to the 90s would be extraordinary, which is what I speculated.
BTW... PDG has a history of a NR/update before these shows. They also go out of their way to almost always present (not all participants present) and have freqnently organized a special 'cocktail' event/update for shareholders. Not a promo company anymore? I truly hope not (compared to the past anyway) but someone at PDG certainly still likes to 'promo' the company at these events. Nothing wrong with a little pomor especially now that they actually have something to promo LOL.
Given their history I expect a NR this week. Pure speculation IMO.
red911