a,b, or c
posted on
Oct 31, 2011 10:50AM
the way i see borden lake playing out for probe is as follows.
a) there is nothing found at the nose fold and the existing deposit gets converted to proven.
b) the nose fold assays are similiar to the existing deposit and the proven resource doubles to about 10 million ounces.
c) the grades exceed the existing grades and we have 10-20 million proven ounces
a) well this is a possibility we must be prepared for. based on the timing of the private placement and the pending mobilization of 3 more drills i think this unlikely. however if this happens some will sell and the sp will go down
b) this should be the catalyst that gets us at least to the 5 dollar mark. at that point we either get taken out or we use the chromite deposit to finance future production.
c) game changer causing the sp to exceed 10 dollars and make this a very attractive property for takeover.
based on the speed of assays in the past i dont expect any from the nose fold until 2012 and we are going to be here maybe under 3 dollars til the assays are released. the news releases in the next 2 months may be changing the inferred resource to proven in the existing discovery area. i am more than glad to wait til early 2012 as i have a big capital gain already and dont want to pay tax til next year. my gut feeling is this will play out somewhere between the b and c option and we will all be very happy 6 months from now. hopefully the price of gold continues to rise and something positive happens at rof. i have held every share for years now and this is my view on how probe plays out. the manipulation and games played with this stock dont bother me because i believe i will be rewarded in the future for my patience. so let the financial institutions play games with the floating shares. mine are not going to be traded until the price is right.