November 3, 2011 / 2:54 PM / 6 years ago

Prodigy Gold soars on higher gold estimates

Nov 3 (Reuters) - Shares in Canada’s Prodigy Gold Inc jumped nearly 25 percent on Thursday, a day after it said indicated gold reserves at its flagship mine in Ontario rose 15 percent.

The gold exploration company now has total indicated resources of 2.2 million ounces of gold at the Magino gold project, up from 1.9 million ounces.

The company also said inferred gold resources almost tripled to 1.7 million ounces.

Shares of the Vancouver-based company were trading up nearly 16 percent at 74 Canadian cents on Thursday morning on the Toronto Venture Exchange. They touched a high of 79 Canadian cents earlier in the session. (Reporting by Ankur Banerjee in Bangalore; Editing by Viraj Nair)

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