Thanks for the great perspective. . . . With the current step out drilling being done at the moment pitbull13 and a couple others have hypothesized we could have something close to a grand total of 2m + ounces ID'd sometime soon. Then, with the rest of this year's drilling at the Friday Zone, it has been unofficially guessed we could have a grand total of 2.5m ounces. I think one of the analysts also believes it possible. (Knowing that infill drilling and a 43-101 will need to be done).

If PEM can drill their desired 100,000 meters in Phase 5 next year I can only wonder at what the results could be, if the drilling results remain somewhat consistant with what has been found so far. If we find an additional 1.25m ounces with this year's 25,000 meter drilling might we have a grand total of 6, 7, maybe 8 million ounces after Phase 5? Perhaps, if we are so successful, our market cap could be close to 300m$ or in the right market conditions with higher gold prices perhaps closer to 1B$? Not to minimize this year's drilling, next year is "the" year. And, believe me, PEM is taking measures to prepare for what it will take to do the Phase 5.

I still hold to my personal rough "preliminary" estimate that PEM will have 10m to 20m economically mineable ounces. If the PEM Treasure Map continues to pan out as it has so far, given all the potential mineralized structure, higher numbers are not unreasonable to anticipate. Further, I was told that, aside from the officially stated 60km, there was likely 100, 200 or possibly even more "kilometers" of potential mineralized structures, and so far we have only really attacked 1 or 2 of those km's. Mathmatically, if we only do 25% as well, on the company's officially stated 60km potentially mineralized structure, as we have done at the Friday-Petsite we could eventually have over 20m ounces. Now figure in additional km's and/or a higher than 25% success rate, expected future significant rise in "Junior" share prices, and the projected much higher price of gold.

Personally, I think the unofficial stated eventual "PEM at a 1b$ + market cap" is a foregone conclusion, especially as the gold price continues to rise. Within a few to several years we might even see a 2B$ (or better) market cap as a possibility, if all continues to go as it has been.

Have a great weekend.

marwal