New Presentation Probe New Presentation 22 Apr 13
Some Facts:
Probe MCap $81.5M at SP $1.20;
Slide 3 - $32M Cash as of 31 Jan 13;
Slide 5 – 67.9 O/S shares, 74.3 F/D shares;
Slide 13 – Discovery Costs $4/oz
https://www.probemines.com/i/pdf/ProbeMines_Presentation_April%2022,%202013%20v2.pdf
Sad state of affairs at these prices, with Borden Gold valued only at $11.51 per ounce from the above numbers with zero value on any other assets, such as Black Creek (ON Budget after hours). We can’t even get the Junior Avg of $35/oz? Prove It and they will come! (Economics)
IMO, they should have presented the Market the PEA, that has already been delayed many times, on the existing and proven by the third Resource Estimate, the 4.3 Moz Open Pit Constrained Resource, noting that in a few months, the Company will be releasing a PEA revision with inclusion of the High Grade Underground new discovery zone, concurrently, with a new Resource Estimate. (Slide 8 - 388 Drill Holes now since Dec 2010 with the last Resource Estimate based on 322 holes)
Only my opinion to regain some lost Momentum.
Cheers, Mark