Re: Probe Mines Sells Its Goldex Royalty Interest to Agnico-Eagles Mines for $18 M
posted on
Nov 23, 2012 12:17PM
Why sell the Goldex Royalty now? Collecting coins for it now and some high priced AEM currency later doesn't do it for me. Now unless Dave is ready to do a deal, what's the rush?
Dave could have waited for a better day to deal the royalty. Sean Boyd has repeatedly bragged at getting the original Goldex property cheaply. Will this be another one of his great deals? I hope selling this little jewel works out but I suspect it would have been better for us to hold it awaiting much higher gold prices and some income or the time that we REALLY needed it for drilling.
Exchanging a gold asset for cash is not a comfortable feeling for me. Receiving the cash might make some feel good but was the price right? Taking the contrary position is never easy with some but I remember a day past when I took the same position under fire from co-owners of a owned sign location on Sunset Strip by refusing to sign a lease for, IMO, an inferior increase. I proved my case by bringing CBS into the picture and the end result was an increase of nearly 100%.