Gold today $1,208.80
On February the 6th this year, Martin Armstrong voiced a prediction that if the metal made a weekly close under $1.227.00 there would be a (price) break following. The lower anticipated gold price could really turn the tables on both Dave Palmer and Chuck Jeannes of GoldCorp concerning the proposed $5 equivalent take over of Probe's expanding Borden Lake gold asset being exchanged with GoldCorp's shrinking valued paper. Where's the beef? Where's the downside protection for the remaining Probe shareholders??? It would have been nice if the heist had some insurance coupled into it so Probe holders wouldn't have to watch the offering share exchange financially diluted with a poorly acting GoldCorp.
Now if we were dealing with these leaders who had some creative supportive sense for our shareholders who were losing one of Canada's key new gold finds, they would have proposed and accepted a much better structured offering. The offering should have had in it a $5 equivalent in shares of GoldCorp no matter what the price of GoldCorp was if this deal ever finalized. Exchange amount of shares to be determined at the close of trading prior to the offer being accepted by Probe shareholders. Of course, if rejected then Dave must turn over drill core results or, presumably, be asked by authorities what does he think he is doing keeping them from owners?
