marwal, maxvalue and greenfields -

This was a very articulate and well thought-out discussion of PEM's current status (and how we got there). I especially appropriate that lack of acrimony between the particpants as you resolved the differences in thinking.

You guys are all correct. Premium has the gold and it may be prove to be the largest North American discovery of many years. And GF is especially right when he says it may not be "favorable" to current shareholders.

Many of us bought PEM at much higher prices. The price of any potential "buy-out" may not begin to approach that price (i.e. I was at $.42/share at one point).

I may be wrong (I sure have been before), but I believe in PEM's resource potential and the ability of PEM management to bring it to fruition. But, talk is cheap. I have been buying PEM shares during the price fall and, with this morning's purchase, I have now lowered my cost by 50%.

That is the only way that I can see to prepare myself financially for the possibliity of a "low-ball" buy-out. I fear that, in this market, many shareholders are willing to sell at any price. If that happens I hope to walk away somewhat intact.

However, if Del can get the JV (and gold can move up in price), shares of PEM may be worth much more. Then, my policy of averaging-down may pay off big.

GLTA

- panamax