I spoke of this in prior posts on SH and here on Agoracom regarding a company that I followed very closely and made out quite well on, Perigrine Petals (PGM). The last 6 months prior to their surprise acquisition by Stillwater was very stale. In fact one had every reason to believe that we as investors were years away from our potential windfall. PGM (Perigrine Metals) had drilled up a Copper- Gold Porphyry Resource of somewhere MI&I in the range of 9 to 10 billion CuEq pounds. They were pretty psyched about some potential new areas close by with surface gold showings and were working on just their Preliminary Economic Assessment (PEA) for the 'Altar project', years and years away from where we're at with Shaft Creek. this was early stage indeed. The PEA was to come in for June and there were NO indications or announcements that they would be late on the delivery when in about June they announced to everyone's surprise that the PEA would be delayed, due to "technical reasons" until the "end of the year". That's right, a vague time line that buys them an extra 6 months. Why? One can speculate on their motives for this but bottom line is the offer came in about 8-10 weeks later from Stillwater at a 290% premium to their vacillating share price of $0.82 at the time. Stillwater got a deal at about 3.8 cents per pound of copper resource. They were hungry, they knew the potential for the project, the region, the political climate and infrastructure was close by. There was obvious no insider leaks in this job and they managed to pull it off as the share price never saw a run-up. There are striking similarities between this and CUU that keep surfacing and bringing a smile to my face.

Have a read below. Food for thought indeed. I lived it, it was real..... and my friend and I made out like bandits!

http://business.financialpost.com/2011/07/11/peregrine-premium-a-rare-bird/