Prodigy Gold Inc (CVE:PDG) (PINK:KXLAF) stock price shot up after the company announced news on their flagship property.
PDG stock price gapped up 15.6% on Thursday. The session’s trading volume was the heaviest recorded over the past year and reached nearly 6.3 million. The 90-day average volume is only 545.8 thousand.
Prodigy stock price broke out through stubborn resistance at 65 cents per share that the stock price was actively testing for the past two months. PDG still has one more resistance around 80 cents per share before it could claim a new 52-week high.
The price gap up is related to an update on exploration which stated the company was able to expand their resource estimates on Magino gold project in Ontario. On November 2nd the company announced their resources estimates have doubled when adjusted according to new exploration results.
Following the latest update, the resource estimates for Magino are 2.176 million ounces of indicated and 1.721 million ounces of inferred gold resources grading roughly at 1 g/t. A full report will be available at SEDAR within 45 days.
