Probe Metals Inc. is pleased to announce that as a result of strong investor demand, the Company has amended its agreement with a syndicate of underwriters led by Canaccord Genuity, and including Sprott Capital Partners, CIBC Capital Markets, BMO Capital Markets, iA Private Wealth, Research Capital Corporation and Laurentian Bank Securities, to increase the size of its previously announced "bought deal" private placement [...]
Probe Metals Inc. is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. on behalf of a syndicate of underwriters, pursuant to which the Underwriters have agreed to purchase, on a "bought deal" basis, 4,840,000 flow-through units of the Company at a price of $3.10 per Flow-Through Unit for gross proceeds of $15,004,000. Each Flow-Through Unit will consist of one common share of the [...]
Highlights: Expansion drilling shows continued extension along strike and at depth for the Monique gold zones B zone returned 4.2 g/t Au over 5.5 m, 4.4 g/t Au over 15.8 m and 6.0 g/t Au over 4.0 m at 275, 375 and 585 m vertical depth, respectively I and M zones returned 2.0 g/t Au over 30.0 m, 23.4 g/t Au over 1.2 m, 1.6 g/t Au over 15.6 m and 1.7 g/t Au over 13.4 m between surface and 300 metres vertical depth A and E [...]
2021 Achievements: Updated Val-d'Or East Gold mineral resource - doubled Measured and Indicated ounces to 1.8M and increased inferred ounces to 2.3M. Positive Preliminary Economic Assessment study based on 2.58M ounce resource in open pit and underground mining. Robust economic model - average annual production of 207,000 ounces, peaking at ~230,000 ounces, after-tax Net Present Value of C$598M, and IRR of 32.8%1 [...]
Probe Metals Inc. is pleased to announce that it has raised $7.0 million from the exercise of 5,376,249 share purchase warrants with a strike price of $1.30 . The Warrants were originally issued as part of the private placement completed in December 2019. As of today, the Company has approximately $31.4 million in cash and investments. David Palmer, President and CEO of Probe, states, "The exercise of warrants has not [...]
Highlights: New results continue to return impressive gold grades and thickness M zone resource expansion drilling results returned best intercept to date on the Monique property: 4.7 g/t Au over 26.0 metres , including 182.0 g/t Au over 0.9 metre at 300 metres vertical depth, open along strike and at depth Drilling results continue to confirm expansion and continuity of the A, B, I & M zones with highlights of up to 3.8 [...]
Probe Metals Inc. is pleased to announce the filing of the independent Preliminary Economic Assessment technical report for its 100% owned Val-d'Or East project, located in Val-d'Or, Qu?bec. The Val-d'Or East PEA supports a robust mining plan that averages over 200,000 ounces per year of gold production, with over 230,000 ounces per year in the first eight years of the 13 year mine life, and boasts an impressive after-tax [...]
Highlights: New results from the 2021 drill program surrounding the Former Monique Mine show good continuity of the gold zones, which are still open along strike and at depth Expansion drilling continues to return impressive results, including 21.8 g/t Au over 2.0 metres, 7.2 g/t Au over 4.1 metres, 6.5 g/t Au over 4.8 metres, 1.9 g/t Au over 10.9 metres, 1.6 g/t Au over 16.0 metres and 1.5 g/t Au over 44.8 metres between [...]
Probe Metals Inc. is pleased to announce the appointment of Ms. Ann Lamontagne as the director of infrastructure, environment and sustainability. Ms. Lamontagne is a civil engineer with a PhD in Mining Environment from the department of Mines & Metallurgy Engineering at Laval University. She has worked for several mining consulting firms, including SNC-Lavalin and Golder, and founded her own company, Lamont Inc. in 2010 [...]
Highlights: Robust economics with after-tax net present value of C$598M, internal rate of return of 32.8% and payback of 2.7 years estimated with gold price of US$1,500 per ounce 12.5 year mine life producing 2.58 Million ounces of gold Average annual gold production of 207,000 ounces over life of mine , with an average of 231,000 ounces per year in the first eight years Average cash cost of US$786/oz and all-in [...]
Probe Metals Inc. is pleased to announce that it has completed the second payment due in consideration of a binding option agreement previously announced on July 9, 2020 with Midland Exploration Inc. , whereby Probe may earn up to a 65% interest in the La Peltrie gold property . The details of the transaction are described in the Company's press release dated July 9, 2020. Pursuant to the Agreement, the Company issued [...]
Newmont announced that on July 20, 2021, through its wholly owned subsidiary, Goldcorp Inc., it disposed of it 15,148,646 common shares of Probe Metals Inc.. Immediately prior to the Disposition, Newmont beneficially owned or exercised control or direction over 15,148,646 Common Shares, representing approximately 11.6 percent of the issued and outstanding Common Shares. Following the Disposition, Newmont no longer has [...]
