"In this market climate, PEA would have been worthless "
Maybe, for the initial SP result the PEA may be worthless but not so for the interested Buyer(s), as the economics imo would be very alluring compared to the manipulated undervaluation of this stock, now with a $78M MCap.
I don't know but my feeling the way this market trades all the juniors, manipulating SP's lower and the POG, the chances of financing into production through massive dilution are not enticing and slim at best. (Banks only Win)
Now if Probe was normally priced say at $50/oz, which a few years back was still cheap, we could finance a mine at $4.70 ($50 x 5.8 moz + $30m cash / 68m shares) based on PEA then Feasibility's.
The quandry for this junior and future strategy hinge on whether to push on to a) Production or push on for b) Buy-out
To Production or to Buy-out?
I would opt today under current market circumstances for a Buy-out and a more realistic valuation, hopefully bids by more than one interested party. The PEA may be that convincing!
Cheers, Mark
