RE:Probe Metals A Potential Suitor?GH
Good summary...yes well. I think if they can arrange a share swap without too much dilution...say 20 or 40 or 50 to 1 share probe....that would in there best interest.
3 Things can happen.
1) Maybe.............
AZX goes for a 10-15 for 1 roll-back then incompetently stumbles forward drilling to prove a resource of maybe 1,500,000 ounces. So maybe another another ( 581,000,000 / 15 ) result 38,800,000 shares @ $ 1.05...try to offer flow through and a potential warrant for say....1.80 ( 20,000,000 shares with 10,000,000 warrants ) exercisable at 2.50......or whatever the math works out too.
At the end of the day...they have maybe 1,000,000 ounces today and they have to drill for the rest. This of course means : they need a successful drilling program!!!
They gave away about 10-14 km on Cadillac break east ( 70 % Cadillac Break Eastand 70 % of sleepy )
If there is nothing there....and Dave P can't find it...doesn't matter he has 70 % of something a junior might want./Need so it's valuable!
2) Not Likely
They manage to do a financing at 0.08 for say 100,000,000 shares....for 8 million dollars for drilling and of course bonuses ! They find another viable 500,000 ounces good luck !
3) Likely.............
PRB annnounces amazing results on Cadillac break east ( see previous NR 4,000 metre drill program ) and now ....they complete there investment to get the 70 %.....so...........someone would have to buy the ASSET ( Sleepy south and Cadillac break east ) from PROBE and not from AZX !!!
AZX does not want ot be left out in the cold sucking there thumb...so they agree to a share swap....and finalize a deal with PRB.
Say 40 - 1 ( seems fair to me since I hold PRB ) but 50 is realistic.
That means an addtional 14,500,000 shares of PRB that can double or triple in Value with all the land under one PRB lead PRB / AZX umbrella!
Klunk all the AZX folks and let PRB ( Dave P ) run the show.
Maybe offer 20,000,000 shares at 3.50 flow through with a 1/2 warrant....maybe or option.
Go Forward with roughly $ 85,000,000 in the treasury....
All told about 110,000,000 PRB shares and a blended treasury with about 16,000,000 cash and about 3.0 million ounces of Gold by the end of 2018...
Announce a 180,000 metre drill program 2019 Val Dor ( Current PRB expansion Drilling + Sleepy + Orenada.
Expansion Drilling in 2019 ....or sell when they hit 4,000,000 ounce.
I think AEM and G will want to get in on it either way....so we will see.
Item 3 the only way really....the only way.
If you hold AZX well, your in trouble unless number 3 happens...
JMHO