That was me. I don't have a link, sorry. Just the PDF report.

Here is the summary page:

Resources Grow at Borden Lake; Higher Grade Zone Highlighted

Event

Probe Mines provided a resource update on its 100%-owned Borden Lake deposit. The resource estimate showed total global resources of 267Mt grading 0.68g/t gold (5.8Moz) using a cut-off grade of 0.3g/t gold, growing 44% over the previous estimate. The resource update also provided initial in-pit resource estimates at a range of cut-off grades.

Impact

Positive. Relative to our previous resource assumption, the in-pit resource showed significantly higher grade. Upon adopting the in-pit resource at a 0.6g/t cut-off grade into our DCF together with other changes to our estimates, BMO Research’s 10% NAV estimate at spot gold increased 44%.

Forecasts

LOM production at Borden Lake could be approximately 3.1Moz gold at an average total cash cost of ~US$552/oz gold. Production is forecast to commence in 2016, averaging ~260koz gold per year over a 12-year mine life.

Valuation

Probe’s shares trade at a P/NAV of 0.65x (35% discount) to the 10% NAV estimate of US$2.10/share using the spot gold price of US$1,677/oz. Junior and emerging gold producers in BMO Research’s coverage universe trade, on average, at a 22% discount (0.78x P/NAV) to 10% NAV estimates.

Recommendation

BMO Research continues to rate Probe Mines Market Perform (Speculative).