I continue to like PRB for many reasons.I posted 6/16 on the potential of the Black Creek chrome resource (50/50 JV with Noront) to propel sp to higher levels.Now that it appears CLF has prevailed in its takeover of SPQ, lets look at the price that CLF paid for SPQ and what they got for their money at the Big Daddy chrome deposit and compare it to what PRB/NOT may have at Black Creek.(This assumes that CLF would be interested in Black Creek.Certainly, there are no guarantees, but I like the chances. Just look at the map.)

Per a recent article, CLF ended up paying C$125 million.This was essentially for SPQ’s 26.5% interest in Big Daddy.Big Daddy’s 43-101 showed approximately 40 million tons of chrome resource.Doing some math, this converts to CLF paying C$125 million for approximately 10.6 million tons of chrome resource.

PRB’s 43-101 resource estimate for Black Creek should come out towards the end of July per NR.Lets say the chrome resource comes in at around 10.6 million tons (for hypothetical comparison purposes only).What then would Black Creek sell for, a comparable price of C$125 million?If it comes in a somewhat less or somewhat more, adjust the figures accordingly.The chrome % is a little less so adjust according for that as well.But let say, for hypothetical purposes only, that it ends up having a value of around C$100 million.Split that 50/50 with Noront, and each company would get a very nice cash infusion of C$50 million with no dilution.What would that do for sp of PRB and NOT.I would think both would go up, a lot, in a short time frame.Sales of this nature do that.But since PRB has only 36 million shares outstanding and a current market cap of only around $15 million, I would think that PRB’s sp would go up much higher % wise.Even if the figures come in at 50% of above hypothetical case, I think sp would still be impacted very nicely.

But again, this is only one of PRB’s projects.The also have completed (or should be near completion) drilling at Cree Lake and Borden Lake gold projects.Lets see what these assay results hold. Also, drilling will hopefully commence very soon for nickel on MW land 400 meters north of Eagles Nest.I am hoping that just the announcement of this drilling will create a lot of interest and help sp. If anyone knows when we can expect this NR, please share. I am hopeful it will be before end of July. In addition, we should hopefully be getting news on LSG’s option at West Timmins soon as well as information on the Goldex 5% NSR royalty.I am hopeful that this will be a great summer for PRB, one that shareholders have long been waiting for.

I continue to like PRB a lot and think it is very undervalued.I added to my position last week.

Profitz