PROBE MINES LTD. - (PRB - CAD$1.35)
Target Price: CAD$4.00 Recommendation: BUY

Expands Resource At Borden Lake

Increases resources to 5.85 Moz (from 4.06 Moz), and releases constrain resource of 3.42 Moz, exceeding our expectations

Higher grade core of 1.6 Moz at 1.42 g/t improves potential economics

Should not also overlook chromite value

Confident in $5.25 NAV and $4 target price

A good BUY

By Barry Allan - 2012/04/03