it is clear that probe will never develop the rof assets so i would prefer they sell the asset for cash. at our current sp this asset is at zero value. the sale of rof would prevent the near term dilution of our sp and get us well in to the building of a mine before a major amount of capex is required. i am not suggesting palmer give it away for less than market value however because of his efficient use of the market to fund the current drill program he can be patient and wait for the right deal. also the sale of the goldex royalty signals two things to me. 1) probe is moving forward to become a producer. and 2) agnico eagle is not going to be the company that tries to take probe over.
it is interesting to me that on a day when probe makes 14 mil plus shares on a royalty not given credit for that the sp goes down. as a long term shareholder i cannot imagine that release being the motivation to dump my shares. this was a small bit of great news. this was nothing more than someone trying to manipulate the sp on a quiet market day due to the long weekend in the US. by selling the non core assets including rof , probe is unlocking the value in the sp and preventing a low price for a takeover attempt. the cash value alone if the rof was sold would be over 2 dollars a share. given all the uncoming news that could drive the sp up i would prefer to have at least 100 million for the rof before the rest of the news is released. again based on getting a fair price. the sp manipulation is just noise to me and i could care less because i can see the near term potential and when it pops i don't want to be on the sidelines trying to get back in. this company is a winner.
