defining moment
posted on
May 10, 2011 11:20AM
there is a defining moment for probe in the very near future. something big things are going on behind the scenes as we speak. the time delay is not good for our sp because it leads to speculation both good and bad. the borden property has become the flagship of probe and the value will soon be revealed. if the drill results are poor then we will go back down to pre chromite deal prices. my take on all the pieces of the puzzle are as follows. two to three months ago it became clear to the board that borden was a very legitimate gold mining property. they approached bmo for financing in the hopes that upon drilling out the property that probe could move from an exploration company to a gold producing company. this of course takes a considerable sum of money, say 40 million dollars. they bring in 3 drills to accelerate the drilling and hit some consistant seams of gold and the puzzle is completed. this whole process takes time and lots of planning and it may not be best for the company to reveal the whole plan until the time is right. the chromite is the second part of the plan that gives funding for the mine going forward. david palmer told one poster that selling the chromite for cash created a taxation issue. well if you are building a mine you have lots of costs to right off revenue against. maybe i am out to lunch with this theory but time will tell.