Probe Gold’s Assets and Shareholder Support
Probe Gold, headquartered in Quebec, holds two flagship properties — the Novador Gold Project and the Detour Gold Project, both fully owned and located in one of Canada’s most resource-rich regions. The company boasts CA$47 million in cash and no debt, giving Fresnillo a clean acquisition target with promising exploration upside.
Probe Gold’s CEO, David Palmer, praised the deal, calling it “an excellent outcome” for shareholders that offers “immediate liquidity and removes future market and construction risks.”
“After nine years of advancing Novador, this is the right moment to hand it to a seasoned operator with the expertise to take it through permitting and into construction,” Palmer said.
The board of directors unanimously endorsed the deal, following financial guidance from Canaccord Genuity Corp. and CIBC World Markets Inc. Major shareholders, including Eldorado Gold Corp., which collectively hold about 12% of Probe’s shares, have already pledged support.
