Prodigy Gold NL : Interim Financial Report for the Half-Year Ended 31 Dec 2021

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Prodigy Gold NL

ABN 58 009 127 020

INTERIM FINANCIAL REPORT FOR THE HALF-YEAR ENDED 31 DECEMBER 2021

For personal use only

Contents

	ABN 58 009 127 020 ACN 009 127 020
Directors	Mr Gerard McMahon (Chairman)
	Mr Brett Smith (Executive Director)
	Mr Neale Edwards
Secretary	Ms Jutta Zimmermann
Alternate Secretary	Ms Patricia Farr
Auditors	BDO Audit (WA) Pty Ltd
	Level 9, Mia Yellagonga Tower 2
	5 Spring Street
	PERTH WA 6000
Bankers	Australia and New Zealand Banking Group Limited
	Level 10, 77 St Georges Terrace
	PERTH WA 6000
Share Registry	Automic Pty Ltd (Automic Group)
	Level 5, 191 St Georges Terrace
	PERTH WA 6000
	Telephone: [phone] or [phone]
Solicitors	Ward Keller
	Northern Territory House
	Level 7, 22 Mitchell Street
	DARWIN NT 0800
	Piper Alderman
	Level 16, 70 Franklin Street
	ADELAIDE SA 5000
Stock Exchange	Australian Securities Exchange Limited
	ASX Code: PRX
Registered Office	Level 1, 141 Broadway
	NEDLANDS WA 6009
Principal Place of Business	Level 1, 141 Broadway
	NEDLANDS WA 6009
	Telephone [phone]
	Fax: + 61 8 9423 9733
Postal Address	Level 1, 141 Broadway
	NEDLANDS WA 6009
Website	www.prodigygold.com.au
Email	[e-mail]

For personal use only

Contents

	Page
Directors' Report	4
Auditor's Independence Declaration	6
Interim Financial Report
Consolidated Statement of Profit or Loss and Other Comprehensive Income	7
Consolidated Statement of Financial Position	8
Consolidated Statement of Changes in Equity	9
Consolidated Statement of Cash Flows	10
Notes to the Consolidated Financial Statements	11
Directors' Declaration	16
Independent Auditor's Review Report to the Members	17

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DIRECTORS' REPORT

The Directors of Prodigy Gold NL (Prodigy Gold) present their report on the consolidated entity (Group), consisting of Prodigy Gold NL and the entities it controlled at the end of, and during, the half-year ended 31 December 2021.

Directors

Mr Gerard McMahon	Non-Executive Chairman	Appointed 29 November 2021
Mr Brett Smith	Executive Director
Mr Neale Edwards	Non-Executive Director	Appointed 29 November 2021
Mr Thomas McKeith	Non-Executive Chairman	Resigned effective 27 September 2021
Mr Matthew Briggs	Managing Director	Resigned effective 7 January 2022
Mr Michael Stirzaker	Non-Executive Director	Resigned effective 1 December 2021

The Directors have been appointed for the whole period unless otherwise disclosed.

Operating Results

The consolidated loss of the Group for the half-year ended 31 December 2021 after providing for income tax amounted to $4,022,352 (2020: loss of $1,779,065).

Review of Operations

Since the start of the 2022 financial year Prodigy Gold:

• Continued exploration on the Company's under-explored and highly prospective tenement holdings in the Tanami region
• Received results from a RC drilling program completed during the June 2021 quarter at the Reynolds Range Project
• Undertook aircore and diamond drilling at the PHD gold target located within the Hyperion Project
• Completed a diamond drill hole at the Tregony Deposit
• Assayed select zones from historical diamond drill holes from the Golden Hind Deposit
• Undertook an aircore drilling campaign at the Buccaneer Resource
• Completed a program of geotechnical and metallurgical diamond drilling at Buccaneer to provide samples for metallurgical and comminution test work
• Received results of testing to estimate unconfined compressive strength, crushing work index (CWi) and bond abrasion index (Ai) for Buccaneer
• Progressed Buccaneer scoping study work
• Terminated the operator agreement with Davidson Gold over the Old Pirate Project
• Signed a binding Exploration Farm-In and Joint Venture Agreement with Newmont Exploration Pty Ltd to advance exploration at the Monza Project
• Divested 90% of five tenements located in the North Arunta region to Australasian Metals (ASX: A8G)
• Underwent a board renewal process with Tommy McKeith and Mike Stirzaker departing, Matt Briggs resigning and Gerard McMahon and Neale Edwards joining the board.

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For personal use only

DIRECTORS' REPORT

Planned 2022 Activities

Subject to funding and strategy decisions a steady pipeline of exploration activity is planned for the coming months:

• Continue ongoing metallurgical test work to determine optimal crush size and column leach testing for a heap leach scenario at Buccaneer
• Further progression of the Buccaneer scoping study
• Follow up results at Lake Mackay, Tregony and Buccaneer
• Conduct a downhole electromagnetic survey at the Reynolds Range project
• Progress rehabilitation work of drill sites from historical programs
• Continue the Company's strategy to divest, and where appropriate keep an interest in, non-core assets by expediting discovery by third parties and reduce tenement holding cost.

Subsequent Events

• Subsequent to the end of the reporting period Managing Director Matt Brigg's employment with the Group concluded and the Company cancelled 7,150,000 unlisted options.
• Prodigy Gold divested 90% of five tenements located in the North Arunta region to Australasian Metals (ASX: A8G).
• Appointment of Mark Edwards to the role of Managing Director effective 1 May 2022.

Auditor's Independence Declaration

A copy of the auditor's independence declaration as required under Section 307C of the Corporations Act 2001 is set out on page 6.

This report is made in accordance with a resolution of Directors.

BRETT SMITH

Executive Director

Dated this 10th day of March 2022

Perth, Western Australia

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