jhallwo -

I have a signficant investment (and corresponding paper loss) in PEM. Marwal recently wrote about PEM -

"The company has had to let go of a lot of the geologists and some others including one person in IR most of us have had a high regard for. One who will be missed. Word has it that some of the existing staff have offered to take pay cuts, even to work for no compensation for a period of time to help the company preserve cash in case this decline continues for many more months. The tightening of the belt decisions continue to this day. They have to, not knowing for how many more months, if any, the company will have to preserve it's cash position to be used sparingly until the market reverses back upwards. Prudent but unpopular decisions for some. It is better to conserve the cash so it will last as long as it may be needed than to spend it all in just a season. Better to live to fight another day."

This seems like a wise strategy for a company that has a large land parcel which has produced (via drilling) several areas that show the potential to be economically feasible resources. Does this description of the potential resources sound familar? Does PEM appear to be taking steps to perserve its resource (and protect its shareholders) by not being bought out of pennies on the dollar?

I ask those who know GNH's management better than me, is Golden Hope being prudent in these tough times? Is GNH taking steps to perserve its resource (and protect it shareholders) by not being bought out of pennies on the dollar?

I ask these questions because I don't have the information to know the answers. Perhaps some of you have a better grasp of what is happening at GNH.

- panamax