Issue link: http://resourceworld.uberflip.com/i/142113
PREMIER GOLD MINES LTD. [PG-TSX] PROBE MINES LTD. [PRB-TSXV] Market Capitalization........$347,020,292 Shares Outstanding.............149,577,712 52-week high-low.............$6.79 – $1.57 Commodity........................................gold President/CEO....................Ewan Downie Region............................. Ontario/Nevada Premier Gold Mines Ltd. is a partner with Goldcorp Inc. [G-TSX; GG-NYSE] on two gold projects in the Red Lake area of northern Ontario: the Rahill-Bonanza and East Bay Projects. At The Rahill-Bonanza Project, Goldcorp is the operator and holds a 51% interest with Premier Gold with 49%. Rahill-Bonanza is adjacent to, and along strike from, Goldcorp's flagship Red Lake Gold Mines (RLGM), considered the world's richest gold mine, in the heart of the main Red Lake Mine Trend between the RLGM complex to the east, and the new Cochenour (Bruce Channel) Project to the west. Underground tram development and drilling are underway on the joint venture project that has the potential for significant new discoveries. Inferred resources at the Bonanza deposit at Rahill-Bonanza are 1,589,287 tonnes averaging 7.6 g/t gold, for 388,839 oz gold. The partners recently acquired the Broulan Reef Project, adjacent to the south and west of Goldcorp's Cochenour Project and adjacent to the west of the RahillBonanza JV, which now forms part of the JV. At the East Bay Project 17 km northeast of Balmertown and Goldcorp's Red Lake Mines, Goldcorp is also operator with a 65% interest and Premier Gold with 35%. The East Bay Project is immediately northeast of Rubicon's Phoenix Gold Project and is host to two significant gold discoveries that Goldcorp and Premier made. Premier Gold is also a partner with Newmont Mining Corp. [NMC-TSX; NEM-NYSE] on the Cove Gold Project in Nevada (See page 18.) Premier is also active on several 100%-owned gold projects in Ontario and Nevada. 24 www.resourceworld.com Market Capitalization........$125,218,991 Shares Outstanding............... 75,433,127 52-week high-low................$2.30-$0.90 Commodity........................................gold President/CEO.....................David Palmer Region.......................................... Ontario Probe Mines Ltd. has completed a bought deal private placement comprising the sale and issue of 7.5 million units of the company at $2 per flow-through unit for aggregate gross proceeds of $15 million. Each flow-through unit comprised one flow-through share and three-quarters of one warrant good to buy one additional share at $2.10. The offering was completed by a syndicate of underwriters co-led by Cormark Securities and BMO Nesbitt Burns. In the event that all warrants are exercised, Probe will raise an additional $11,812,500. Following completion of the offering, Agnico-Eagle Mines Ltd. [AEMTSX, NYSE] purchased, from Cormark, 7.5 million units at $1.50 per unit with each unit comprising one share and threequarters of one warrant. Agnico Eagle now owns approximately 9.94% of Probe's issued and outstanding shares on a nondiluted basis. Probe Mines has made two major discoveries in Ontario, the Borden Gold Project and the Black Creek Chromite Project with its current focus on the Borden gold project. Borden has a pit-constrained resource of over 4.3 million oz averaging 1.03 g/t gold with a 0.5 g/t gold cutoff. Eighty-five percent of the pit-constrained resource is indicated. The company recently made a highgrade gold discovery at the Borden gold project that included 500-metre southeast step-out holes from previous a high-grade zone discovery that return 25 metres of 4.6 g/t gold, including 12.9 metres averaging 7.4 g/t (DDH 378), and 10.2 metres grading 12.5 g/t (DDH 384). The new high-grade zone in the southeast allows potential for alternative development scenarios with a lower CAPEX. JULY 2013