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Message: Re: Looking forward ..>confirm
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Feb 27, 2011 10:05AM
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Feb 28, 2011 03:12AM
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Feb 28, 2011 09:23AM

Well, personally I am wondering about this to. If they thought they would have enough money to do 20,000 meters of drilling in 2011 while adding 2 more drill rigs, could there be enough money to do as much as the recently stated 25,000 to 50,000 meters of drilling in 2011, as Del recently said 3 weeks ago in his interview with Al Korelin. Prior opinions were along the lines that PEM could have sufficient funds to do 20,000 meters and to add 2 more rigs in that process. This is why I asked my question. PEM has not said whether they have enough funding to again double the drilling program upwards to 50,000 meters. It makes me wonder if some other funding arrangement might be in the works to achieve more drilling than 20,000 meters. Hope this helps to clarify my question. I do read all that everyone posts but since no one commented on whether there is sufficient funding to accomplish Del's most recent drilling comment, I thought I'd ask for opinions. Maybe someone attending the PDAC can ask Del personally and let us know. Question remains: Does PEM have sufficient funds to drill up to the 50,000 meters in 2011 that Del said they would try to accomplish? If not, how would it be paid for? Crome Mountain disposition? New warrants? a JV arrangement? Other? Or will they only drill until the money runs out at 20,000 meters, 22,000 meters, 25,000 meters? And lastly Will they have to add more drilling rigs to accompliush more than 20,000 meters of drilling? It took PEM 2 rigs to drill 10,000 meters. They planned to add 2 more rigs to drill the previously planned 20,000 meters in 2011. So, will they add additional rigs, beyond the previously announced total of 4 in order to drill 25,000 to 50,000 meters in 2011. Hope this clarification helps. Didn't mean to ruffle any feathers.

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Feb 28, 2011 09:35AM
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