NS is undoubtedly right about a release announcing the closing on Tuesday, but for the impatient I'd note Probe gave themselves a little leeway by saying "on or about" February 28. I too hope for Val d'Or drill results in the same release or immediately thereafter.

My math says the 15% overallocation, if fully subscribed at the same Ontario to Quebec flow through share ratio as the upsized offer would net about Cad.$12.9 million, suggesting an enhanced Treasury of over $Cad. 40 million. That should leave flexibility to upsize the 50,000 meters of drilling targeted in the February presentation and preserve some non-flow through funds for further property consolidation and other steps.

One element of the financing intrigues: the Ontario flow through shares were increased by nearly 48%, versus "only" 15.7% for the Quebec issuance (both before the 15% over allottment potential, where the split will be determined by the underwriters). I think that means exploration expenditures in Ontario were jumped from $Cad 1.0 million to $Cad 1.5 million(before any over allocation shares or the 6% commission).

I'm interpreting that as an early signal of a potentially meaningful exploration and drilling program on the 180 square kilometer West Porcupine project. Other theories?

NSS