Australia's Prodigy Gold eyes best day in 3 months on stake increase in JV

Prodigy Gold NL

18/05/2022 04:06

** Shares of gold explorer  PRX.AX  jump as much as 15.8% to
A$0.022, on track for their biggest one-day jump since Feb. 16  
    ** Co restructures joint venture with nickel and lithium
miner IGO  IGO.AX  to give PRX majority interest in gold
tenements  urn:newsml:reuters.com:*:nASM000C7E
    ** Says IGO will transfer 40% stake in the gold tenements
after which Prodigy will hold 60% in JV 
    ** Says in return, PRX will solely fund agreed drilling
programs on gold and base metal tenements 
    ** Shares hit their highest since April 29 
    ** Stock down 47.2% this year, as of last close, vs a 3.5%
decrease in the benchmark S&P/ASX 200 index  .AXJO  


 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))