Rosehill,

Thanks for your patient and understandable comments in your last two posts. Very useful, even if you are not a geologist, just a careful student of what has been successful in comparable settings on nearby properties.

I guess my emphasis on who is in the team at the top is somewhat similar, but less sophisticated by a mile, since it puts most of the emphasis on the people and the process that got us to this point on the property. Palmer and Oosterman are the key geologists, and I trust them because of past success and careful process. I see attorney Peterson as a crucial background figure insuring that people are vetted, financing and contractors carefully arranged, titles are researched and all the other things done properly when the leader says, "Make it so". Every member of the team is crucial, and not all get appropriate recognition: Witness the failure of Adventure Gold, QMX, Alexandria to take advantage of high potential land positions over many years. The Probe Metals team has far more talented and tested members, at this point, than Canstar, but I suspect that some lunch conversations occur between the two, with some benefits to the more junior company.

Your analysis of comparative properties adds a lot, I think, because it can give you the added conviction that allows you to take a major position before results are forthcoming, a step that combined with patience appears to have been very successful in your investments.

Both analytical paths now have us waiting the moment of truth: the drill bit. Bring it on!!

Again my thanksfor your thoughtful comments,

NSS

Rosehill,

you have been through the wars with Probe and Canstar, with much success. Maybe you could help me with two questions:

First, geopysical images in the new presentation look like a high correlation between surface samples/channel cut data and the subsurface views. How much of your confidence in successful drill results comes from this new geological view?

Second, the property oulines show what seems to be gaps in Canstar's position. Am I interpreting that right? If so, are they looking to add to their land position?

I'm delighted to see someone with your experience confident about the prospects for both Canstar and Probe Metals. Sounds like we followed similar reinvestment strategies with the Goldcorp proceeds. To a successful outcome! Hope some of our old friends from the Probe site did likewise, and will begin commenting more actively.

NSS

David Palmer and Dennis Peterson, the historical leaders of the Probe Mines (sold to Goldcorp for $500 million Canadian)  board of directors, hold similar roles at Probe Metals and Canstar,  although the Probe Metals board is now larger and more broadly credentialled as befits a strongly financed and diversified exploration firm. Still, the key projects at Canstar reflect that earlier period of leadership that predated Probe Mines dramatic success, and thus have merited ongoing attention.

Canstar's initial drill campaign just started, with the potential of the Kenora project laid out in a new presentation that shows some very intriguing IP images. While my major bet remains on the Val D'Or flagship at Probe Metals, plus its other promising projects and deep treasury,  Canstar is worth reviewing by those who respect the PRB team, with the caveat that the stock has jumped on rising volume this week. I think that's a positive indication, but we all have been fooled before.

looking forward with great interest to the next assay reports from Probe, and the first  drill reports from Canstar on the Kenora project.

NSS

So we knew about the Probe Metals/Canstar board overlap before Canstar brought in Danniel Oosterman to head the company following the set back in Newfoundland, as well as the overlapping oversight at the diversification into the Kenora gold project, and we watched that effort blossom in another "underexplored" area of Ontario through last week's dramatic update of the Canstar presentation. Dramatic if as a non geologist I'm a little bit right about the drill potential of the newly released IP maps.

With a several day lag the shares have jumped sharply in Canada (no US trades since 12/14/16, apparently) on much improved volume. Drilling is said to have started, so it shouldn't be long now before the first assays support (or refute) the positive soil, grab and channel samples plus the promising IP images.

As a holder, I'm hoping the stock price jump reflects geologically sophisticated buyers who are voting in favor of positive first assays and who thus have a reasonable chance of being right. Still, the big price jump is a reason for some caution, in my view at least, because the recent buyer(s) might not be as sophisticated in exploration matters as I would like to hope. 

My bet remains with management and the board: Oosterman, Palmer and Peterson. At Canstar, and more substantially at Probe  Metals.

NSS

The latest geophysical update showed meaningfully increased possibilities, and with permits finally in hand, even the modest initial 1000 meter drill program could provide some excitement. Early days still, but the pace is finally picking up. Starting to get interesting...Good luck, Danniel, wishing you great success, as I am sure all Canstar holders are as well.

NSS

Pretty quiet at Probe as Dave P and his team put together a major property position in the area of the long identified Val d'Or "flagship" target. Now we have the "discovery" announcement, suggesting that the company is nearing completion of the black out period that must accompany negotiations for new land. Look at the maps: "Voila!" as they might say in Quebec. Deals with Richmont, QMX and Alexandria, plus a cash investment in QMX which has lots of property, a new (and experienced ) management and a strengthened balance sheet. Not so quiet anymore!

Meanwhile, two geologists continue to work West Porcupine, which I have heard Dave wanted to buy ten years ago. If he wanted it then, he has to have been thinking about its potential for a long time. Enough to make a guy who likes to solve puzzles pretty curious. Thus, my hunch is that a drill will be turning there without any fanfare, just to "test" the underlying rocks while we're all focussed on Val d'Or. I know, we all recognize that Dace is a famously patient guy, but, I mean, 10 years of wondering!!

I have to conclude the Probe team has built a lot of value since the AGE acquisition, and look forward to the roll out of drill results, perhaps with a little less patience than Captain Time, but still with a lot of conviction about where the Probe team is taking us.

NSS