Probe Gold Inc T.PRB

Lost money

[himmler]

I have to admit I made a big mistake buying Probe...it's just went straight down since the $1.60 - $ 1.70 range.
It's unfortunate since all the signs for buying gold companies appeared good...heck..gold itself is wayyy up and Probe goes the opposite way. 
The selling is relentless .
I get it too that exploration companies like this one are generally a gamble,but any news they put out,doesn't create interest at all .
I guess that despite their drilling, the results are bad...simply put if they were good they would attract investors..or even gamblers.
I see no such thing.

[mtzorfas]

The drilling results are generally pretty good, and the last results were amazing.  But yes, it doesn't seem to matter.  The drill reslts are like a tree falling in the forest.  They have no strategic plan to effectively market the company.  At this point, I'm just hoping for a buyout of any kind and the sooner the better to just get the money out.  This management

[biotechguy1]

MTZORFAS, It is certainly disheartening to see the price action and most likely Significant Wash trading that is going on I am sure this is all computerized stuff  A lot of share holders are disappointed.   Challenge is having a large position to sell...and you hold in hopes of a 3-4 dollar buyout. I would put all my shares up at 3 bucks..but CIBC won't let you do that "

[mtzorfas]

Totally agree, Biotech.  And glad to hear someone is thinking about what can be done, even if it's no one at Probe!  I'm not sure if that will also work in the U.S., but I would gladly take $3 US so if so I'm game to put up all my shares at that price.  What they really need to do is combat the short selling and bank maniuplation (on behalf of potential acquirers) by

[himmler]

You know that telling people on this board to stop selling will never work. In theory if everyone did that it would work but it's impossible. Here's why: Washing as you call it can occur between multiple houses..we retail investors mean zero  Even if every retail investor sells nothing it wouldn't matter..simply because that kind of trading doesn't need retail investors.Its

[biotechguy1]

Himmler, All very true and "all of it" is aided by computer and AI.   I never used to see Companies going private...but in the news it seems to be a more common occurence. First go around with PRB I was trying to sell Goldcorp shares.  I had level 2 data and on a Friday between 3:55 and 4:00 pm....about 30000 shares traded with a lot size that did not exceed 6 shares per

[djStainlessS]

You could have the greatest asset in the world, but unless you work hard to raise visibility we'll go no where.  My nonstop complaint with PROBF is the lack of elbow grease from all the hammock swingers.  Look at the executive compensation of everyone.  Absolutely mind blowing that they keep handing out stock to all these turds.   Board:  Salary - share based

[mtzorfas]

This is really great info- and very eye opening.  I guess another option would be to consider a lawsuit.  I mean I don't mind them making good money when they are making us money, but again, the stock is down 10% over the last 5 years and other than Dave and probably Jamie, I can't think of a single thing the rest of them did to deserve any of that money.  They are

[Bobwalkerstocks]

Does anyone have experience with or know how to initaite said lawsuit? I've seen this floated in here a bit but now feels like the time. They have heard and seen our feedback about everything from the compay to the leadership to Seema and not one positive update or change has materialized.

[mtzorfas]

I'm a former lawyer but this is a very specialized area of law- in the U.S., we have securities litigation attorneys that deal with this sort of thing, but I'm not sure we would have grounds for a lawsuit in Canada (or here for that matter).  You have to prove that they are breaching their fiduciary duty to the shareholders.   It's worth getting an actual expert opinion,

[Bobwalkerstocks]

Thanks, Mtzforas! This is really helpful. Starting from your last point, because most of the shares are held internally I don't really think we actually ever had teh chance to vote them out. I do think getting an expert opinion might be helpful though. Even a demand letter or letting them know we will sue may be beneficial because right now they're literally sitting on their thrones