Thanks brutus, Great content:

Probe Mines Limited (PRB:TSX.V) is a junior with a new, low-grade gold system discovery in an Ontario greenstone belt where no significant gold had ever been discovered and mined. The company did not publish an expected preliminary economic assessment (PEA) in Q1/13 based on its 4 million ounces (4 Moz) 1 gram/tonne gold. Instead, its drilling last December discovered a new aspect to the existing gold zone. This opened up the potential for underground gold mining at a higher grade and may indicate that the low-grade gold system is part of something much bigger and richer.

Probe gives you a dual hedge. If gold turns around, the low-grade, open-pittable resource becomes very valuable again. Or if we have a brand-new discovery play on our hands, nobody will care about the gold price because the grade will work at even lower gold prices.

TGR: When do you expect a PEA?

JK: At the end of 2013, with a resource estimate issued in September 2013. Probe Mines is closing some property agreements to consolidate ownership of the land position. The stock is in a holding pattern. Once these loose ends are tied up, the stock will stand out.

TGR: Could Probe be a takeover target for Agnico-Eagle Mines Ltd. (AEM:TSX; AEM:NYSE)?

JK: Agnico-Eagle has bought just below 10% already. Probe still owns its Borden project 100%, but Agnico-Eagle has an equity foothold and is in a position to provide technical advice. When a takeover bid becomes justifiable, Agnico-Eagle would have a head start on any competitors, but it would still be an auction among any interested producers. Incidentally, Probe Mines has $39M in working capital.