The share price of ASX-listed Prodigy Gold increased by nearly 11% on Thursday on the announcement of an exploration farm-in and joint venture (JV) agreement with gold major Newmont.
Under the terms of the agreement, Newmont would make a A$1.5-million non-refundable payment on the signing of the agreement, with the miner to earn a 51% interest in the Tobruk project, in the Northern Territory, by spending A$6-million on exploration over a four-year period.