Not sure if Broderick was referring to International Tower Hill (ITH,THM Amex) or not, but they did release their revised PEA Tuesday, and they now state that they have 16.5 million ounces M&I, with another 4 million ounces inferred at a 0.2 g/ton cutoff - and they are still drilling. They show that they can have an open pit mine into production within 3 years, and that once in production, they will have a total capital + operating cost of $759 an ounce. They would immediately produce 664,000 ounces in the first year and the next 5 years. If gold is at $1800 an ounce at that time, you can see what their EPS would be.

With all of this, and having fully diluted outstanding shares of just under 100 million (WAY less than PEM), the stock is priced at . . . . . . . . . . . . . . . $8/share.

People need to be realistic about where PEM should be priced. They are nowhere close to being at 16.5 mil ounces M&I, so anyone expecting a near-term price explosion with decent drill results simply isn't realistic about the current market sentiment.

To be at $1 by next spring would be nice, and $3 is probably 2-3 years down the road, unless the POG explodes north of $2000 and stays there.