Prodigy Gold Reports 1.03Moz Gold Resource and $7.13M Capital Raise in Q3 2025

Exploration Milestones and Resource Growth

Prodigy Gold NL has marked a significant step forward in its development with the release of its annual Mineral Resource statement, confirming over one million ounces of gold across its 100% owned deposits in the Tanami North and Twin Bonanza project areas. This milestone underscores the company's growing footprint in the prolific Tanami Gold Province.

During the September 2025 quarter, the company completed a comprehensive Reverse Circulation (RC) drilling campaign at the Hyperion Deposit, comprising 21 holes totaling 2,495 metres. This drilling targeted key lodes including Seuss, Hyperion, and Tethys, aiming to enhance resource confidence and extend mineralisation boundaries. Concurrently, an eight-hole program at the Tregony Deposit added 762 metres of drilling focused on resource expansion and upgrading inferred categories.

Geophysical Surveys and Mining Approvals Progress

Complementing drilling efforts, Prodigy Gold completed a dipole-dipole Induced Polarisation (IP) survey at Hyperion to better delineate mineralisation at depth and refine future drill targets. This geophysical work is critical given indications that near-surface gold mineralisation has been depleted, suggesting deeper zones remain underexplored.

On the regulatory front, the company is advancing its mining lease application for the Hyperion Deposit, a prerequisite for transitioning from exploration to development. Key steps such as government agency consultations, landholder notifications, and advertising have been completed, with upcoming milestones including mining plan finalisation, environmental impact assessments, and negotiations under the Aboriginal Land Rights Act.

Joint Ventures and Capital Strengthening

Prodigy Gold’s joint ventures continue to progress, with Newmont Corporation conducting drilling at the Tobruk JV and pending results from geochemical surveys at the Monza JV. Meanwhile, the Lake Mackay JV with IGO Limited remains under review for potential partnerships or divestment, reflecting a strategic focus on core Tanami assets.

Financially, the company bolstered its position through a partially underwritten entitlement offer and placement, raising approximately A$7.13 million before expenses. Major shareholder APAC Resources Limited and new investor Plutus Prospecting Pty Ltd played pivotal roles in underwriting the raise, with Plutus also securing a 19.9% stake and appointing Ben Lin as a new non-executive director. This capital injection is earmarked to fund exploration and development activities over the next two field seasons.

Outlook and Strategic Focus

With a strong cash balance of A$6.7 million and no debt, Prodigy Gold is well-positioned to advance its exploration and development agenda. The company plans to commence co-funded diamond drilling at Hyperion imminently and is actively working to secure all necessary approvals for mining at key deposits including Old Pirate and Hyperion. Additionally, a proposed 1-for-20 share consolidation is set to be considered at the upcoming Annual General Meeting, aiming to streamline the capital structure.

Managing Director Mark Edwards emphasized the company's commitment to progressing from exploration to production, highlighting the importance of regulatory approvals and ongoing drilling programs. The next phases of assay results and environmental assessments will be critical in shaping Prodigy Gold’s path forward.