Probe Gold
Primary ticker: TSX: PRB
Stage of development: Exploration, Development
Primary minerals: Gold
Project to promote: Novador
Project location: Val d ‘or, Quebec
Website: www.probegold.com
Probe Gold Inc. is a leading Canadian company focused on the acquisition, exploration, and development of highly prospective gold properties. The Company is well-funded and dedicated to exploring and developing high-quality gold projects. Notably, it owns 100% of its flagship asset, the multimillion-ounce Novador Gold Project in Quebec, as well as an early-stage Detour Gold Quebec project. Probe controls a large land package of approximately 1835-square-kilometres of exploration ground within some of the most prolific gold belts in Quebec. The Company’s recent Novador updated Preliminary Economic Assessment outlines a robust mining plan with an average annual gold production of 255,000 ounces over a 12.6-year mine life.
Val-d’Or properties include gold resources totaling 6,728,600 ounces in the Measured and Indicated category and 3,277,100 ounces in the Inferred category along all trends and deposits.
Cash: CAD$27mm
Debt: /
Major shareholders:
Eldorado Gold
CDPQ
Franklin Templeton
Merk
Konwave
Management ownership – 6%
Financials
Management Profile
Dr David Palmer, President and CEO
Dr. David Palmer has over 25 years of experience as an exploration geologist in the Canadian and international mining industry. Dr. Palmer was appointed the President and CEO of Probe Mines in 2004, leading the successful team that was responsible for two major mineral discoveries, including the multi-million ounce Borden Gold deposit, until it was acquired by Goldcorp in 2015. In addition to working extensively throughout Canada, he has a broad range of experience in a variety of commodities in South America, South Africa, India, Greenland and Scandinavia.
What is your rationale for taking part in 121 Mining Investment?
Exposure to US investors and 1 on 1 meetings
What recent news would you like to highlight to investors attending?
Sep 2024 – resource growth to 10mOz
What are your key goals for the next 3, 6 and 12 months?
3 Months:
Infill drilling
6 Months:
exploration drilling and pushing permitting process
12 Months:
PFS study
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Market volatility and geopolitical volatility
What do you think makes your company such a compelling investment?
Largest landholdings in one of the best mining jurisdiction Quebec; 10MOz of gold resource and growing, robust PEA numbers ($910mm after tax NPV, 32% IRR, 12 year mine life, 255,000 average annual gold production) and PFS on the horizon. Two year in the permitting process. Team with a solid track record of building projects. Last project sold to Goldcorp for $526mm.
What are the top 3 key investor takeaways?
One of the largest gold resource (+10mOz and still growing.
Largest land position in one of the most mining friendly jurisdiction.
Robust PEA economics.