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Message: My criteria for buying PRB vs FNC and others
To save some typing time I will put FNC aside (as a small chapter can be expressed on their strategy as well as for all in the area I suppose). As for Probe, without typing into oblivion: 1. They spent a lot of cash developing the area of the Mine they have the "Rich" NSR on and to conserve cash for the Victory Area they sold it off, but with the provision they benefit from the hard initial work they expended there. 2. In the Mc Fauld's Lake area all the central players knew there was much of something there but the best anyone came up with was very good Zinc and Very prospective Copper and Chrome. The Exploration cycle was winding down and most were running low on cash (Windfall saved the day for Noront in a big way) and it was becoming a case of who will be the area Claims holder that will give it one more shot or kick at the can before they all would have to hunker down and ride out the ensuing Financial Markets Storm hoping to have enough cash to even keep holding their respective claim properties (without doing excessive share dilution on PP's in a hostile Financial environment). Some companies were already having squables etc. on various kinds of stressors. Noront made the deal to take over the DE1 area if they could do but one drill hole. Probe opted to do that, but also keep the two adjacent properties as their reword should Noront hit very good Zinc or better very good Zinc/Copper. Small but very interesting geophysically and adjacent to where Richard Nemis and John Harvey felt professionally very good about ( DE 1), Probes Mc Fauld's West properties could have been near surface copies of DE1 or better (and maybe deep connections with DE!. This is how my imagination worked out the wheeling and dealing apparently going on six months to two years ago. What we have now is "History in the Making" - as many of us current devotees are HOPING. 3. Tamarack. Probe JV to Mantis and Mantis is doing and paying to earn in for the JV Option. No cash cost to Probe. Early drill results are very encouraging. Corrent drilling has a very strong chance of improving on current known very encouraging results. 4. Probe Management. Don't know a lot of the specifics but the overall impression based on their actions and very steady pace and approach are very encouraging as for building Share Holder confidence. They have my confidence! 5. NOT to be forgotten Victory. Do not know where the name came from but it suggests 'results of long and challenging work'. They have identified some 30 or more very attractive anomalous geological features and have developed several Drill Ready Targets there. Ready to go! 6. And most important of all. Each of the above is a company maker and each acts as an excellent fall back position should any of the others disappoint. Added together what do we have? Relatively low Down Side Risk and many points for high Up Side Reward. Old Joe
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