Expert Analysis

Tara Hassan, National Bank Financial (11/3/11)

"Prodigy Gold Inc. issued an updated global resource estimate for its flagship Magino project (Ontario), posting a notable and larger-than-expected increase. Total resources (Indicated and Inferred) have increased to 3.9 Moz Au, up 55.2% over the February 2011 estimate. . .given the substantial increase in resources, we expect the company will evaluate an expansion of the proposed open-pit project. . .despite the sizable boost in resources, additional growth is likely; Prodigy has outlined a number of areas of upside within and around the pit as well as the Lovell Lake area as potential areas for resource additions. . .we reiterate our Outperform rating."