As was believed possible, with the recent increase in the average precious metals stocks, PEM also rose, while the metals rose nicely as well. We have been in a bad market. It has severly hurt or ruined hundreds of very small companies. So long as the average precious metals company was hurting and so long as the metals remained in a downtrend, PEM's share price did poorly as well. Then, there is the issue of all these little companies needing cash, which most could not get over the past year. So, an untold number of such companies went under because they couldn't pay their bills and claim fees. PEM is surviving as of today. It had to go into hybernation to ride out the conditions. Funding will loosen up if precious metals prices continue to go up, although a correction now would seem reasonable. As precious metals prices hopefully resume their climb, miners and explorers will slowly awaken, if their stock prices continue to rebound. John Ryan is right to not waste the most recent drill results on a market that is no mood to reward successful numbers. No one knows for sure if the meals have bottomed. We all hope they have. Are we on our start upwards to gold at 2,000+? If we are, then PEM will have time to open a mine or two to make hay while the sun is shining, providing they can get the needed funding when the time is right. That's my take on it. It is not investment advice. I could be wrong. It's just my best guess.

As an aside, my newest suspense novel, "The Promiscuous Puppeteer," is now available only through Tate Publishing (https://www.tatepublishing.com/bookstore/book.php?w=978-1-63268-175-1. However, on August 12th the book will be officially released to the traditional national and international book outlets. One chapter of the fictitious story is about Elk City, ID and about a fictitious exploration company in that general vicinity. Part of the story, vague as it is, was inspired by the events effecting us all as PEM shareholders. The overall story is about the largest gold exploration effort and discovery in the world ". . . and it all began, and the story begins, at the five thousand foot high desert location called Tonopah, Nevada."

I hope my book gets wide circulation in the mining community and results in my getting invited to one or more idustry association meetings or conventions to speak about The Promiscuous Puppeteer and Premium Exploration. My best to you all, especially those who have had to endure the last couple of years as a PEM shareholder, or most any other shareholder for that matter. Blessings to you and yours,

marwal