Probe Mines

Growth through Discovery Canadian Base and Precious Metal Exploration

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almost 8 years ago

Below is my post on AZX board, attached here for info. Would add that AZX is a good target for a merger. Dave did it once with AGE, he can certainly do it again with AZX which is dirt cheap at a Mkt Cap of just over $17M (@0.05, at 0.045 the Market Cap is $15.57M). A reasonable offer from PRB would receive a nod from AZX shareholders (noting than PRB is friendly with AEM which is AZX major shareholder). If PRB went for a merger it can get some 2.5Moz Au/AuEq ($8/oz, insitu, dirt cheap) including 100% of Sleepy, etc... without doing any drilling. PRB could then forget about the JV once it gobbled the whole thing. This is a no-brainer. ICG is just next door and it might have the same idea.

-------------------posted on AZX board-----------------------

Probe formed JV with Alexandria (Sleepy)

posted on Dec 04, 2016 01:39AM

Use the IP Check tool [?]

Looks like PRB is on the move. The JV involves about 1/3 of AZX land. The Cadillac East Property includes Sleepy deposit (~0.3MozAu inferred). PRB 100% property is at the western end of the JV property. The old Sigma mine (ICG) is a stone's throw from the northern boundary. It would not be a surprise to see PRB grabbing that portion as well to consolidate the land parcel. A good map of the JV surrounding is shown at the end of the NR (scroll to the end for Figure 1), link below.

https://www.probemetals.com/news/2016/probe-metals-options-the-cadillac-break-east-property-from-alexandria-minerals-corporation-1/