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my broker says it should be tomorrow (the 20th), but they say it is possible it may happen one day later (the 21st).
Not sure people are fully understanding how great this PR really is. Here is the current map after the acquisition: http://www.probemines.com/s/Borden_Lake.asp?ReportID=687212&_Type=Borden-Gold.
That is correct, we own the entire play. This is extremely rare. There is no quesiton in my mind that Probe has held up better than most gold explorers because it owned a great deal of land adjacent to its major find in an area that has not been explored. Now we own the entire land package. 6.6% is about how much a normal financing costs us in dilution, so we are not talking about much dilution here, and the $25 million is replaceable as soon as gold continues its move and PRB stock jumps due to gold going up and this deal.
Thanks for solving another piece of this puzzle Dave.
Here is what I am seeing:
Black Horse 78 Mt at 35% -KWG/Bold
Black Thor 111 Mt at 31% -Cliffs
Blackbird 43 Mt at appox 34% -Noront
Big Daddy 43 Mt at approx 27% -Cliffs/KWG
Black Creek 10Mt at 37% Probe
Here is where I got some of the data: http://www.mndm.gov.on.ca/sites/default/files/northwest_mining_and_exploration_status_report_2013.pdf
On commenting on the summer drill program one of the analysts states that it is reasonable to assume that the recent program undercut the main zone of the system. One can easily read between the lines seeing that this analyst agrees with Dave's interpretation that the winter HGZ gold content will increase with increased drilling and thus he is also disagreeing with the Scotia analyst's view that the winter drilling returned uneconomic grades. It is a pity that one of the more junior analyst's comments seem to trump more seasoned analysts' views according to the media. That is why I have issues believing half of what I read in newspapers, since they are generally into sensationalism vs. realism.
Our new COO (who has been actively involved in the development and growth of the Borden Gold project as our lead consultant since 2012 ), who did not have to leave a high paying job to join Probe says the following: Dr. Yves Dessureault, Chief Operating Officer of Probe, states, "Progress has been encouraging and suggests that the HGZ is a large, continuous mineralized zone amenable to lower-cost bulk underground mining methods at reasonable cut-off grades. Later this year, the completion of a PEA will be a significant de-risking milestone for the project and create value for our shareholders."
HEY SCOTIA...WAKE UP AND SMELL THE COFFEE!