Expert Analysis

Joe Mazumdar, Haywood Securities (2/13/12) "Prodigy Gold Inc. announced a "bought-deal" equity financing for gross proceeds of $37.5M equity financing, where a syndicate of underwriters have agreed to purchase 37.5M common shares at CA$0.80/share with an additional 7.894736M common shares to be issued at $0.95/share on a "flow-through" basis; the company has also agreed to grant an over-allotment option to the underwriters to purchase up to an additional 15% of the offering up to 30 days after the closing. . .we have estimated that Prodigy's cash position as of the end of 2011 at ~$25M and have forecast its 2012 budget at over $20M. Prodigy's 2012 budget is based on a significant ~60,000m drilling program to infill/expand the resource at its Magino project."