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Message: Goldcorp Is On The Prowl: Other Attractive Targets For A Failed OSK Acquisition

Probe Mines

Probe Mines Limited (OTCPK:PROBF) is the final company on our list, and is much more speculative than the prior two companies. Probe Mines is exploring and developing the Borden Gold project in Ontario that offers the opportunity to be a high-grade open-pit mine. The company is still in the very early stages of de-risking the project, but current resources are close to 4 million ounces of gold, and with recent drilling hitting high-grade intercepts, the potential for Borden to grow significantly is quite large.

What's interesting with Probe Mines, though, is that it has received significant financial backing from Agnico-Eagle, as they own close to 10% of the outstanding shares of Probe Mines. Besides the fact that Borden could easily be consolidated and thoroughly explored by a major miner like Goldcorp, it would be quite a slap in the face to Agnico-Eagle to have Goldcorp acquire Probe Mines - which Agnico-Eagle has already shown interest in. Investors shouldn't fool themselves into thinking that business doesn't get personal - Goldcorp may be a bit insulted by Agnico-Eagle's white knight offer for Osisko, and may take the opportunity to acquire Probe Mines to make a point. It also helps that Probe Mines has one of the most exciting early-stage exploration projects in Canada.

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