From Another Board
posted on
Feb 29, 2020 02:46PM
1, 'Volume of shares trading of Probe is very small, telling us that people and institutions are not interested',
There are 121.5 M shares of Probe Metals plus warrants and options, it is agreed that the daily volume is small but this is really not unusual in this company and also in the former Probe Mines. The low trading volume imo is definately not due to interest, why continue to hold this play if it fails to meet your expectations. I venture that the groups that are holding can read the writing on the wall and do not want to sell. Just last month the CEO noted in the Jan 7, 2020 releaase, 'Tremendous exploration upside growth...' and 'confidence that we will continue to grow our resource both locally and regionally..' From my place it is highly unusual for a geoscientist to include 'tremendous' in a script unless of course there is unusual positive supporting data in the back pocket. Recent news has noted the importance of new 'high powered IP' which appears to identify the position of sulphides [pyrite] in underlying rock. Since the gold is generally associated with the sulphides this new IP becomes an important tool in Daves equipment box which should reduce the number of 'dud' holes. As a geophyical technicial and geologist I understand the importance of equipment that can 'light up' zones within the rock that have a higher potential, in this case to have gold. Dave's team will have used this higher powered equipment over known trends that have gold and use the IP signature in non gold areas. When the equipment is used outside know gold trends and sulfide zones are projected this becomes a drilling target.
2, 'To be viable , I guess several closely spaced zones will make up a small camp'. Probe has an experienced Board and management team and last fall outlined a resource of 3.1 m ounces. Given the success to date and the NEW high powered IP how long will it be before they double the resource again, I know I am projecting but with 2 parallel zones alone Pascalis and the success of other companies to the west, Eldorado, QMX, some of which are along bedrock structure, FAULTS, how long will it be before PRB adds more ounces.
A strong technical team that understands rock and the power of geophysics. Little wonder the vast majority of shares are on hold, not trading. More then a small camp but the beginning or a large camp.
mh