The Globe and Mail reports in its Wednesday, Dec. 11, edition that Desjardins Securities analyst Allison Carson has started coverage on Probe Gold with a "buy" recommendation and $3.75 share target. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $3. Ms. Carson says in a note: "After delivering a robust PEA in 2024 which demonstrated a 12.6-year mine life and average annual production of 255koz Au, Probe has increased its company-wide resource to 10moz Au, making it one of the top five undeveloped gold resources in Canada. The company continues to demonstrate additional exploration upside both at its flagship Novador project in Val-d'Or, Quebec, and regionally across its prospective land package. It has grown its resource by more than 10 times since acquiring Novador in 2016 and has an experienced management team which we believe can continue to grow the resource while advancing the project to a PFS, expected in 2025. Probe currently trades at a discount to developer peers and we expect it to rerate toward peers as it achieves key derisking milestones, including completing the PFS, advancing permitting and continuing to demonstrate the exploration potential."