Prodigy Gold’s lead project is the advanced Magino mine project, located northeast of Wawa, Ontario. Prodigy is currently evaluating the development of Magino as an open-pit mining opportunity with the potential for deeper, higher grade gold production.
An updated Preliminary Economic Assessment for the Magino Mine, was announced in December 2011. The economics of the project are outstanding, including an NPV over $939 million (5% discount), almost three times higher than the previous project NPV. The PEA calls for production capacity of 20,000 tpd. Gold would be recovered from the open pit mine at a rate of 249,300 ounces per year, or 2.6 million ounces of gold over a mine life of 11 years.
Resource Intelligence’s Doug Hadfield spoke with President and CEO Brian Maher about the company’s recent developments.