Alexandria Minerals Corp ALXDF

Probe Metals A Potential Suitor?

[goldhunter11]

Just looked at a couple of maps (slide 7 PRB Corp Pres, and QMX slide 8) and and activities Probe Metals has carried out during the last little while and  my crystal seems to say that PRB is in a prowl (it got to this stage following the merging with AGE) for property acquisition/consolidation. Note: PRB got to this stage of having a resource of 0.77Moz by merging with AGE plus some additional drilling, i.e. they did not start from cratch.

https://www.probemetals.com/investors/presentations/
https://s1.q4cdn.com/118255390/files/20180126-QMX-Corporate-Presentation.pdf

Some key facts/activities:
- consolidate the area around its flagship property Val d'Or East Project (new Beliveau Mine)
- acquire the Bonnefond property from QMX and 11% of QMX which has started drilling in the SouthWestern Zone (next door to Triangle and just north of Orenada)
- 60% JV with AZX on the the Cadillac Break East (~1/3 of AZX property in this area, including Sleepy resource...Note: The property with  AZX sold to AEM for $5M is just west of this JV).
- PRB has a JV with AEM next to Goldex. AEM had a sizable stake in PRB before Probe Mines (the old PRB) sold the Borden Gold Project.
- PRB just sold a gold property in Ontario, so most of its holdings are now in Quebec.
- PRB current resource is about 1Moz including the 60% of Sleepy. It could easily exceed 1M oz with a new RE in Q1 2018  (83,000m drilling completed in 2017, another 85,000m/$13M is planned for 2018. They have $25M cash.
- AZX current RE (yes, the current one is dated 2009) for Orenada is 0.5Moz, and could become 1Moz with new drilling. But I am not sure when this would be released.

PRB Slide 7 seems to says that PRB has a firm grip on the Val d'Or East Project from both sides Hwy 117 (solid blue). It would not take much to move westward to absorb the rest from AZX (the grey zone), noting that PRB owns 11% of QMX (covering most properties on the east side of Sigma-Lamaque/Triangle, and seems to know AEM people from the current JV and previous dealing before G came with the $526M offer for Borden.

The question remains how all this will be carried out?  Note: G still has ~14% of PRB, does it want to get involve in the Val d'Or area? Also, it would depend on the timing, starting with EO out of the door with the golden parachute, wait for the two REs  to come out (would expect that RE for AZX Orenada to come out first, since the BoD want to fast track this, and PRB would want to know the new RE. But people in the know probably got a pretty good idea if Orenada would contain more (or less) than 1Moz. On the hand, PRB may want to come out with a new RE for the New Beliveau to create a jump in its Market Cap. Getting ready for a potential acquisition?
...to complicated for a Sunday morning. Feel free to weigh in.
GH
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