The Globe and Mail reports in its Tuesday, June 20, edition that Canaccord Genuity analyst Jeremy Hoy assumed coverage on Monday on Probe Gold with a "speculative buy" recommendation following the departure of a colleague. The Globe's David Leeder writes that Mr. Hoy set a share target of $3.25. Analysts on average target the shares at $3.34. Mr. Hoy says in a note: "Overall, we like Probe for its strong flagship project in a top tier jurisdiction, experienced management team, and exploration/M&A potential. Novador's location near Val-d'Or, Quebec, brings benefits that include an abundance of skilled labour, extensive pre-existing infrastructure, and a supportive government, all in a jurisdiction with low geopolitical risk. On exploration, we believe Probe's 1,500km2 Abitibi land package contains significant potential -- we see Novador as primed for more growth given its underexplored nature, while PRB's Detour project presents intriguing optionality to a prospective, virtually untested land package. Novador's location in the heart of Val-d'Or also heightens M&A potential, in our view, as larger players may look to consolidate the area."