G's offer is on the table and the general feeling it that it's a done deal and Probe sharehodlers would be accepting 1 PRB for 0.1755G (approximately $5.0/s for Probe) and the new PRB (RoF property with 10 Mtonnes of chromite at BC and a Tamarack and Victory). The entire new PRB package is worth about $0.20/s ($19M cash/90.8Ms OS, ignoring the value of the chromite which could be substantial if all the stars are perfectly aligned) for current PRB shareholder. Goldcorp has a good deal with this share swap. Some stats:

- Borden Gold: with 4.3Moz high grade (~5gpt) and lower grade (just over 1gpt)...and growing, especially in the high grade zone along the SE strike length toward landfall and beyond. This package alone could be holding 10Moz, once the 4Moz low grade (slightly less than 1gpt) kicks in if POG gets above $1300/oz.

- In addition, nothing has been said above the East Limb which, reportedly, has been drilled since October 2014 (not a beep about the results). Dave said the Borden zone hosts a potential 75km strike length (more hits, parallel zones?).

In summary, Borden Gold alone would be worth ~10Moz. So, paying $526M for 10M+oz = ~50/oz (with a high grade core) would be a great deal for G (good mark for them as a shrew negotiator...they throw in the RoF package as a bone).

So, the deal is on the table, what to do, what to do? There are a few possibilities to look at:

- Possibility#1: Everything is going smoothly and G scooped up the price (~10Moz delivered gift wrapped along with the hot off from the oven land deal). We get the G shares and the leftover PRB ($0.20/s worth) and hope for great things would happen in the future (the RoF blooming, or Dave back in the old saddle finding more gold for us). This deal would be just fine for early PRB investors (bought in at~ $1.00/s or way below), but others may want not to cash in.

- Possibility #2: If there is no other bidder and despite of the BoD blessing G does not get the required 2/3 majority then G has 2 options: (a) up the anti a bit, say to $6/s or even $7.0/s (unlikely, if there is no other bidder) ; and (b) take the $/5.0 bid off the table to teach PRB dissenters a lesson.

- Possibility #3: Take a more exciting scenario where G would decide to teach PRB shareholders a lesson, i.e. walk away from the deal causing PRB share to drop (like a stone?) back to the pre-bid level, say just over $3.00/s, keeping in mind that the POG has been going up to the 1300 level, so the drop would be expected to be cushioned somewhat by the POG rise. Are PRB shareholders willing to be exposed to this excitement? Enduring a lower SP...until Dave issues a series of NRs telling the world about the drill results. Then SP goes back up again to the 5, 6...level? People may have to wait for a few months, but if there is enough patience. Fingers crossed for POG above 1300. May be this is Dave Plan B? It's worth noting that the current deal is blessed by Probe BoD and Management, but 4.6% is not really a big block.

There are other possibilities, but the above would be enough to chew on during the next little while, 2 weeks?

Just some idle speculation.

goldhunter