“Do you really think companies put out a PEA and say....gee this doesn't look financially viable...I guess we just pack up our tent put out the fire....and go back to work.”
No. I really think companies keep moving the release date forward until they have an economically viable scenario.
I have concerns on two fronts.
1.The recent change in how we assess the BL deposit has “reset the clock” and added some risk. The PEA has been delayed once again because we shed the low grade stuff and need to find more high grade.
2.The land deal is obviously in trouble …delay..delay..delay.
“Mike Hocking...is not the only say on PRB a number of other equally competent analysts seem to have different views...3 bucks 3.90 4.25....”
Yes. Mike Hocking is not the only say on PRB. Unfortunately, he is the only one having an impact on the share price and it’s not positive. Are we at $3 bucks?, $3.90?…No. We are at $2.40 and dropping while the price of gold moves up. In my mind Hocking’s reports have devalued the company.
“If selling is the only way for you to sleep at night....then sell.”
I have never sold a Probe share from my portfolio (10 years and counting). The thought has crossed my mind recently and should have sold some when we failed to break the $2.80 barrier.
I invested in Probe for the long-term and will wait for the eventual buyout. The plan has not changed. I know Dave is looking for >$6/share. This works for me.
Rosehill
