Split Probe re: Spin-Off
Rosehill, “I have been in Probe for a long time. Dave is does not allow shareholder to influence his decisions regarding explorations. He a very conservative professional geologist. The guy won't make a move unless he has the data to back up his decision. This is exactly what he is working on in Borden. You can scream and shout all you want. Dave will work diligently to get results but he will not let shareholders interfere. “
Respect your opinion Rosehill as I do all posters here and would wager that all who post here would agree Dave has done a fabulous job on the exploration front. First gaining 100% of Black Creek, then proving 10 MT’s Chromite and then the now with Borden.
As for the split, the numbers don’t lie and I for one can’t imagine he is happy with Probe sporting a $125M MCap on these 2 great assets and for all the hard work he has put into this company.
Probe Gold (PRB) and Probe Chrome (PRC)?
A Split does not have to be total. Dave’s Main Concern “Probe Gold” could still have a controlling interest like 20% for some start-up cash, but then it wouldn’t be a 1:1 for existing shareholders to maintain the same float. Dave could spin-out 80% to existing shareholders holding 20%. A New Management Team would be required for Probe Chrome. Probe Gold owning 20% would have Board representation, maybe even a Chairman, Dave.
The Big Question, What would the market value the new Probe Chrome, the assets being, Black Creek, Victory, McFaulds West and Tamarack. The Main Asset BC’s 10MT’s Chromite, maybe some more drilling and deep! Were we not still open at depth? Maybe Nickel or PGM’s deeper? Many other good targets up there!
Cheers, Mark
