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Probe Gold Inc T.PRB

Alternate Symbol(s):  PROBF

Probe Gold Inc. is a Canadian gold exploration company focused on the acquisition, exploration, and development of highly prospective gold properties. The owns 100% of its flagship asset, the multimillion-ounce Novador Gold Project in Quebec, as well as an early-stage Detour Gold Quebec project. The Company holds a large land package of approximately 1685-square-kilometres of exploration ground within some of the prolific gold belts in Quebec. Its Casa Cameron Project includes the Casagosic, Sinclair-Bruneau and Florence properties, which are located north of the towns of La Sarre, Amos and Lebel-sur-Quevillon, northwest region in Quebec. It also holds three properties in the James Bay Lowlands area of northern Ontario, Canada: the Black Creek Property, the Tamarack-McFauld’s Lake Property, and the Victory Property. The Company has a 50/50 joint venture with Pan American Silver on the Meunier-144 property. It also owns 100% interest in the Croinor Property located in Val-d’Or, Quebec.


TSX:PRB - Post by User

Bullboard Posts
Comment by goldhunter11on May 23, 2018 9:35am
146 Views
Post# 28068604

RE:News!

RE:News!In general, PRB had a good deal, raising ~$16M with minimal dilution (~13% dilution). It's a good price, $1.90, for the FT units. For the hard unit it was 1.15 which is consistent with the current SP. Some info is still missing:
- Since we don't know exactly the proportion of the FT and hard units, we can only provide estimates.
- who are the major participants in this PP. It would be interesting if EricS is a major participant (that would say something about this PP with the potential merger/further development between PRB and AZX.
- Is G maintaining its 13.7%, or will it let the holding slide to about 11.3% after this PP. A merger between PRB and AZX would drop this holding further, if G does not have a special arrangement to maintain the %.
- What about AEM?
After this PP PRB has a very very healthy war/treasure chest (25 +16 = ~$40M). May be not to spend all in acquisition, but some on additional  JVs with some neighbours (e.g. QMX, PRB has ~9.1%). The rest is for exploration, lots of exploration the east side, and north... and south of ELD. Nice piece of land. I am betting that in 1.5-2 years they/i.e. PRB will prove up over 5Moz for that area, which is just about right level of resource for a major to jump in.

Just speculating, folks. Do your own DD.
Cheers,
GH
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Rosehill1 wrote: Now you know why the wall is up for the stock price.

https://www.probemetals.com/site/assets/files/1390/probemetals_release_2018-05-22_private_placement_final.pdf


Bullboard Posts