managemant moves
posted on
May 14, 2012 08:09PM
1) when probe was basically worthless david palmer traded our rof properties to noront to get the chromite property. that propelled us by noront and now it has put us in the middle of cliffs billions dollar proposed mine
2) not dwelling on the chromite david palmer has gone out and bought a land package in an unexplored area of ontario called borden lake. this has turned into a multimillion ounce gold deposit in a mining friendly area that is still open in all directions. this is the flagship of probe.
3) when the market was still doing well palmer went out and got a private placement for much more money than a lot of investors thought was needed. now the market is soft and probe is well funded to continue finding gold at borden for the foreseable future
present day probe is caught up in a the downward spiral that is the gold sector. this will change in the near future according to many analysts. the downward pressure on gold is a near term event created by the house of card in the financial markets. probes sp does not reflect its fundamentals or david palmers guidance.
future i dont know what david palmer is going to do but i suspect that the chromite deposit is an ace in the hole for probe. the changing status of this area holds great potential for probe. the borden lake story is only beginning and the next year will tell the tale.
i kick my own ars for not selling probe when it was at 2.80 but the fundamentals were still strong. i did not see the turmoil in the gold market coming.i would have bought it back at a dollar as i still believe in the story here and will continue to hold. david palmer has proven to me that he is a shrewd player based on his moves in the last few years. he still has his hand close to his vest and when the market turns and the pot is huge then we will see what probe really has for cards. i am going to go away in may with all my shares in pocket and come back when sanity is returned to the market.