Post by
goldhunter11 on Feb 11, 2018 10:45am
Probe Metals A Potential Suitor?
Just looked at a couple of maps (slide 7 PRB Corp Pres, and QMX slide 8) and and activities Probe Metals has carried out during the last little while and my crystal seems to say that PRB is in a prowl (it got to this stage following the merging with AGE) for property acquisition/consolidation. Note: PRB got to this stage of having a resource of 0.77Moz by merging with AGE plus some additional drilling, i.e. they did not start from cratch.
https://www.probemetals.com/investors/presentations/
https://s1.q4cdn.com/118255390/files/20180126-QMX-Corporate-Presentation.pdf
Some key facts/activities:
- consolidate the area around its flagship property Val d'Or East Project (new Beliveau Mine)
- acquire the Bonnefond property from QMX and 11% of QMX which has started drilling in the SouthWestern Zone (next door to Triangle and just north of Orenada)
- 60% JV with AZX on the the Cadillac Break East (~1/3 of AZX property in this area, including Sleepy resource...Note: The property with AZX sold to AEM for $5M is just west of this JV).
- PRB has a JV with AEM next to Goldex. AEM had a sizable stake in PRB before Probe Mines (the old PRB) sold the Borden Gold Project.
- PRB just sold a gold property in Ontario, so most of its holdings are now in Quebec.
- PRB current resource is about 1Moz including the 60% of Sleepy. It could easily exceed 1M oz with a new RE in Q1 2018 (83,000m drilling completed in 2017, another 85,000m/$13M is planned for 2018. They have $25M cash.
- AZX current RE (yes, the current one is dated 2009) for Orenada is 0.5Moz, and could become 1Moz with new drilling. But I am not sure when this would be released.
PRB Slide 7 seems to says that PRB has a firm grip on the Val d'Or East Project from both sides Hwy 117 (solid blue). It would not take much to move westward to absorb the rest from AZX (the grey zone), noting that PRB owns 11% of QMX (covering most properties on the east side of Sigma-Lamaque/Triangle, and seems to know AEM people from the current JV and previous dealing before G came with the $526M offer for Borden.
The question remains how all this will be carried out? Note: G still has ~14% of PRB, does it want to get involve in the Val d'Or area? Also, it would depend on the timing, starting with EO out of the door with the golden parachute, wait for the two REs to come out (would expect that RE for AZX Orenada to come out first, since the BoD want to fast track this, and PRB would want to know the new RE. But people in the know probably got a pretty good idea if Orenada would contain more (or less) than 1Moz. On the hand, PRB may want to come out with a new RE for the New Beliveau to create a jump in its Market Cap. Getting ready for a potential acquisition?
...to complicated for a Sunday morning. Feel free to weigh in.
GH
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Comment by
aulion on Feb 11, 2018 2:04pm
Oh-oh, that has all the earmarks of a sweetheart deal.
Comment by
brandy2000 on Feb 11, 2018 3:51pm
Next phase of moon. Where is the reference for your comments about ES & Probe? You have a grand total of six SH post and your here to save us? OK Talks facts not fiction. There is no deal?
Comment by
biotechguy1 on Feb 11, 2018 9:54pm
BGM....and it's a producer...heavy dilution !!!!!
Comment by
goldopportunity on Feb 12, 2018 5:35pm
Hey NextPhase -- the "Notice" and Henry's 2 PRs appear on the tsx website. goldopp
Comment by
brandy2000 on Feb 11, 2018 3:44pm
Again what deal are you folks talking about? There is no deal on the table only board room squabbles for control. ES warrants are history if there is something cooking. The bigger question is why did the share price rise out of its control range. On Dec the 14th it began to move above .06 and suddenly became a costly concern for someone.
Comment by
NextPhase on Feb 11, 2018 3:53pm
Calm down Brandy, I'm just thinking out loud. GH had an interesting idea this morning, and I am exploring with an open mind. :-) Yes, only Sprott Asset Management, as far as we know, has ownership in Probe Metals. NP
Comment by
NextPhase on Feb 11, 2018 4:16pm
Brandy... c'mon. It's listed on Probe's investor presentation, slide 5. Are you really planning on polluting this board with more of these low-effort posts? :-) NP