What massive dilution and time to do a private placement?.... I have partisipated in hundreds of PP's and these can be accomplished in a week if structured correctly.

Earily Dec was an oportunity to minimize dilution, fund the company robustly and move on with very minimal dilution. A bit tougher right now but not much.....

If AEM makes an offer to buy out this royalty you can bet it will be oportunistic....

If Cliffs come through with an offer they could sence weakness as well and low ball us...

Now on the other hand if this happens the stock price will jump anyway. When this happens Dave should fund the company on that jump in price, pick up $4 to 5 million as previously suggested. This will provide the funds to continue drilling and take any urgency out of any negotiations.

Cliffs needs PRB's deposit.... AEM needs to eliminate the Royalty to maximize profits going forward..... PRB needs time, and that requires cash to keep drilling huge at Borden.... A placement on the bump up will accomplish this.

If Dave was to anounce that he was simply in discussion with either Cliffs or AEM on either of these issues and the market would respond. If AEM has low balled the offer he should initiate discussions with others to monitize the royaly or simple sit tight and wait..... The company has plenty of cash to sit tight, but we also would love to mount a robust drilling on Borden.... Lets not rush into this.... PRB has a couple of pat hands here, so lets not fold for chump change.

There are multiple alternatives than the obvious interested parties.... The next couple weeks could be the most important in PRB's history and set PRB up to be super sucessfull exploration investment.

This is a chess game .... many different moves availible, and the opponent is willing to use them...we don't want to be playing checkers while our opponents use chess moves.

JMHO