A new small PP was finalized today per the NR. http://tmx.quotemedia.com/article.php?newsid=53699444&qm_symbol=PEM

Per the previous recent NR, it seems they may have $300,000 (+) in claims fees yet to pay to the BLM-USFS for the Idaho claims, unless this has already been paid for this year. Then there may also be part or all the $500,000 due as the final payment for the new patented claims. Perhaps, if not already paid, an arrangement can be made to defer that payment until 2013 ??? Then there is the continuing overhead expenses for the next few months. Lastly, I think the last SEDAR reported the check book was running a bit low. They might be able to squeeze out some dollars to do a small portion of the infill drilling now, but that might be cutting things a bit too close for comfort. Another PP will likely be needed later this year in order to fully fund the infill drilling project. Meanwhile, we all hope the gold market correction ends soon to drive up the share price. . . . This PP was altered to be very small, about half what they had originally planned to do. If the share price climbed nicely on the back of the sector's rise, then a much larger more favorable PP could be done.

One could argue that having to do this PP is indicative that there are no JV's or mergers, or sales of PEM assets on the front burner on the verge of being finalized. But, I'm fairly confident that there would have been low ball offers in recent weeks and months which obviously were declined, if indeed made. PEM has some suitors. But evidence is overwhelming that such firms, including the Barricks'a of the world, are mostly looking for distress bargain basement sales of good and promising reserves. That would probably also include Stillwater if they made any offer for our MT land. Such companies want to offer mere pennies when they should be offering dollars per share. They can pay us a fair price now or they can pay us more later.