we only need 1
posted on
Feb 05, 2012 08:53AM
I really can't see a small company like probe taking borden lake all the way to production. they don't have the expertise to go through all the steps. what i do see is probe rapidly trying to prove up what we have in the ground at borden. the goal to get this done while gold is north of 1500. when the latest 43-101 is updated probe will clearly have 2 defined resources with an industry standard value. selling an unknown commodity to a major would be difficult. selling a 5 million plus ounce resource in a mining friendly area will be very easy. it only takes one bigger mining company to swallow up probe for all the shareholders to get their reward. maybe that is why david palmer doesnt spend a lot of money trying to entice the retail investor. he knows if probe proves up the resource that a major will buy it. the goal here is to discover the resource not to go into production. probe is an exploration company. the spring could be a very interesting time to own probe. when a takeover happens it will be very quick and just a matter of a news release. if you arent in at that time you wont have a chance to get in. the probe story will be over. maybe probe sells borden and the chromite and uses some of the money to buy more land. maybe the whole company gets bought out and split up. so thats how i view the future for probe. this to me is a takeover play. i am already happy with my return but i am holding for the takeover at somewhere between 5 and 10 dollars. this depends on the total gold found at borden. i have taken out the emotion involved. this is a math story. time + gold +chromite=sp. it only takes 1 major to want probe for us to all be rewarded.