Taylor says buy Prodigy Gold

2012-09-28 17:56 ET - In the News

Jay Taylor, in the Sept. 17, 2012, edition of Gold, Energy & Tech Stocks, says buy Prodigy Gold Inc., recently 74 cents. Mr. Taylor said buy on June 21, 2011, at 62 cents and again on Jan. 16, 2012, at 85 cents. Assuming a $1,000 investment for each buy, the $2,000 position is now worth $2,063. Prodigy has released a resource update for its Magino project in Northern Ontario. It estimates an indicated resource of 5.8 million ounces of gold and an inferred resource of another 300,000 ounces. It has also released assays from Magino, including 153 metres of 1.05 grams per tonne gold. Mr. Taylor classifies the resource stocks in his buy list into four groups, depending on how far the companies are from production; A1 is for producers, and A4 is for explorers that have not yet released mineral resource estimates. The editor says Prodigy, an A2 stock, is furthest from production within its group, but it is the only one with positive working capital ($50.48-million as of June 30). Mr. Taylor likes this about Prodigy. The gold bug tells his readers that his A1 portfolio has gained 25.06 per cent in the year to date, while his portfolio of A2, A3 and A4 shares has gained 28.7 per cent over the same period.