Re: NEWS - Probe Mines Announces $2,000,000 Non-Brokered Private Placement with
posted on
Feb 06, 2008 11:03AM
Looks like it was a private.... private placement I think Mineralfields took the whole thing.... Likely they called up and offered to throw $2 million at them..... PRG got a bit better deal than the last placement.... no discount to market and a $1.50 ... 1/2 wt rather than a $1.00 wt.
Since the placement is flow through, and they are using this for exploration.... flowing through the tax credit costs PRB little.
Always better to take cash when it's offered, as one never knows what the market is going to do next month.
With cash in hand.... I think about 5 to 6 million
Last financial has several subsequent events that added cash plus this placement.... This should fund them through this year and if the stock price runs up the wts have escalator classes to draw them in.
Lets the drills turn!