Hi all,

in the mean time Swiss UBS is also progressing on the stock split / reverse split which will finish in 2 weeks (!) in which I can not trade. No problem as I was not planning on selling either before the upcoming news flow. Anyway, some more coverage:

Matthew Zylstra, Northern Securities (11/14/12) "We are transitioning coverage of Probe Mines Limited with a Buy recommendation and a 12-month target of $3.50/share. . .the company is, in our opinion, considerably undervalued given the potential of its flagship Borden Lake gold deposit. . .based on capex of $450M, we expect an operation at Borden Lake could produce an average of 188 Koz annually at a cash cost of $638/oz, over a 17.5-year mine life. . .Probe is well-funded with ~$23 million in cash and no outstanding debt and will benefit from an NSR on Agnico-Eagle's Goldex property, which could provide $2–3M annually starting in 2014. . .we believe Probe Mines is considerably undervalued and is a takeover target."

Christos Doulis, Stonecap Securities (11/8/12) "Probe Mines Limited announced the acquisition of the Ava-Claire property from Red Pine Exploration Inc., located approximately 20Km east of its flagship Borden Lake project. . .this is still early stage, but we believe the acquisition of this grass root property bodes well for the company as it gives Probe further land package to explore prospective regional targets on its belt. . .we are maintaining our Outperform rating and $3.50 price target."

Have a good one,

Snoek