Perhaps while waiting for gold to confirm a bottom and for the precious metals market to improve, PEM has likely completed it's previously announced drilling program. If so, then they have likely also received the assay reports for the remaining drill holes. And, further, if so, then they are likely completing a Preliminary Economic Assessment (PEA). And, if that is accurate, and if the assays were good, then John Ryan is making some preparations to initiate a mining operation at the Friday zone. All of the above seems quite likely and logical to me, but, admittedly, not absolute. If the above scenario is in progress, then I suggest we can expect an announcement when the time is right, followed by financing and the opening up of the ground for a tunnel. This is what he announced he would do if the assay results were good. Once a tunnel is opened, the gold ore will quickly begin to get processed. A positive cash flow possibility for PEM seems so very close. Now, if only the precious metals markets would cooperate to help things along.