While we are waiting for news ther are some good comments from james from another Board:

A few thoughts on the latest coverage.

I suspect the Fraser guy is talking about an updated resource on Friday of the 2.7 m oz. in the next twelve months or so.It would be very hard to predict any more future expansion of BG and Deadwood as PEM has never in the past sunk any holes into those ore bodies until now.I think the over all resource of the new yet to come drilling data on the phase 4 will far exceed a 2.7 m oz resource for the OSZ.

The company has been on record that they think as much as 10 million oz will be found at Friday alone.Clearly with the new Monday hits the foot print of Friday is at least 5 times bigger than the 43-101 just reported if the zones are all tied together.We must remember that it is possible the zones in hole 19 and 22 have still not found the bounds of the ore body.Add in the fact whole zone is open at depth a picture starts to emerge that a 10 million oz resource has a very real chance.

Then new ore discoveries at BG and Deadwood will truly demonstrate a Carlin like zone with miltiple multi-million oz discoveries.

This leads me to a price target on PEM shares.If only the Frazer estimate of 2.7 m oz for Friday was the only goal produced by the current 25,000m ( I think this is at the very lowest end of the resource scale) then at 10% if the current POG at $1500 would give us a $150 in ground value of $405 million.Divide that by fully D shares of 160 million = a share price of PEM at $2.53 for Friday alone.

Exploration success at BG or Deadwood could suggest another Friday like discovery is in the making adding another $2.50.

If Deadwood were to produce drill results to rival or exceed Friday then another $2.50 per PEM share is very real bringing the total to $7.50 per PEM share.

Throw in some take over speculation or a bid for the whole PEM OSZ and $10 is very real for a PEM share.

In light of the expected rapid unfolding events this phase 4 may produced I have raised my price target on an 18 month time frame of no less than $5. But if all the stars in were in line $10 is not out of the question.

For those who doubt this may happen,I would suggest they study the charts of ARU VEN RVC. They tell the the story of rapid expanding shareholder value.PEM belongs to this outstanding exclusive club in my view.

James

GLTA