An interesting Northern Miner article about O3 mining might give some insight into Probe.
The CEO of O3 disclosed that they received a $10m investment in June.
The CEO states " that clearly shows there's interest for the quality of the project we have, although due to legalities we aren't allowed to say who it is "
He goes on to say
"But you might say that based on different players in Val-d'Or , it could be Eldorado or Wesdome or Agnico. In my view , I don't think someone from outside of Val-d'Or would come for less than 3 million ounces. Someone from outside Val-d'Or would come for something much bigger "
Hmm If I had to guess he might be referring to Agnico and Probe???
The CEO also pleaded that "I've been very vocal in saying it is time for mining companies to work together "
So what potential opportunities could it mean for Probe?
Firstly Probe and Cartier Resources (2.35m ounces resource) could merge at a no premium deal
Shareholders include O3 14.2% and Agnico 15.5%
Aslo Probe takes out the remaining of Sleepy (40% currently owned by O3)
Lastly settle the $10m claim of the Quebec government ( investissement Quebec) for the assets of. Monarch Mining which was placed under the protection of the CCAA.
Monarch mining landholding of 143km2 which includes a resource of 862 000 ounces ( but would exclude the 750 t/day mill.)
If the above scenario would play out in full or in part then everyone involved would benefit because the sum of the parts would be worth much much more .
Overnight Probe could be transformed into a major player with over 9m ounces!
The CEO of Agnico ringing endorsement who previously stated that " arguably the best place(to mine) in the entire world is the Abitibi "