Email for IR - Raised $7 million from exercise of warrantsGreat stuff.....drill results tomorrow???
Probe Metals has raised $7mm from the warrant exercise (NR attached). The extra cash bolsters Probe’s balance sheet which now stands at $31.4mm as we wind down 2021. We would like to thank all our existing shareholders for their continued support.
2021 was another successful year for the company on all accounts. Here is a quick recap of our accomplishments this year:
- Updated resource estimate – crossed 4mm ounces threshold for Val-d’Or east project exceeding a goal we set out in 2015
- Solid Drill results from Monique, Pascalis, Courvan and Detour Gold trends. Monique trend was the standout performer.
- Successful completion of development studies – geotechnical and metallurgical (over 95% recoveries)
- Robust Preliminary Economic Assessment (PEA) that showed profitable mining operations of well over 200,000 ounces of gold per year for a minimum of 10 years.
- Solid balance sheet - ended the year with of over $31mm in cash and investments
As we head into 2022, we are in a strong financial position to begin our 2022 programs on Val-d’Or East and Detour. Here is what to expect:
- Accelerate our drill programs to capture the exploration upside while continuing to increase confidence in the resource and the project economics. Note that we have only drilled 15% of the property so far.
- An aggressive 150,000 metres of drilling planned for 2022 - will represent our largest exploration programs to date. The focus of the Val d’Or drill program will be on resource conversion and resource growth. More details to follow.
- Continuous advancement towards Pre-Feasibility Study (PFS)
- More drill results from 2021 Monique drilling
- Drill results through-out the year
As always, don’t hesitate to contact me directly with your questions.
On behalf of the Management and the Board, I wish you Merry Christmas and Happy Holidays!!
Cheers,
Seema