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To: kaliho who wrote (685)5/9/2012 10:08:36 AM
From: james flannigan
   of 806
 
THINK ABOUT IT.

The BCSC has a dozen companies under restatement for 43-101 at the present time.These comments out of the BCSC have destroyed the JR market while gold is near record decade highs.I remember the Bre-X scam brought the JR market to levels like this.But this is a government induced crash in the JR space.Most of this will blow over and will be history if the BCSC decides it is responsible for shareholder destruction rather than protecting investors.CANACO is taking the BCSC to court for over reaching and the destruction of its shares.

If the BESC keeps up this kind of BS then there will be no gold JRs left to regulate.

Smart investors made 1000+% returns on JRs that had gold deposits after the Bre-X collapse.Real gold deposits got rewarded when the dust settled.The BCSC has shot its self in the foot and destroyed the JR market.But if they start to back off, JRs such as PEM with a real gold deposit will give it new shareholders who can see throught the clouds mega returns.

These shares are a steal when the sun comes out.

James

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To: james flannigan who wrote (686)5/9/2012 11:26:17 AM
From: kaliho
   of 806
 
james,
I do agree with your post.

it now depends on what PEM can give us so we can reevaluate the current situation.
it appears that we will stay where we are and go sideways for several weeks.
I am not aware of any news expected in the next 4 weeks or so.

we see......

GL

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To: kaliho who wrote (687)5/9/2012 11:43:54 AM
From: james flannigan
   of 806
 
For the record I have contacted the company and as a result added 130,000 more shares.My understanding is the restatement of the 43-101 is a non event and will have little to no material change.If this is so the shares will stage a violent rebound.

there are going to be a lots of sad faces who sold PEM at this price.

James

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To: james flannigan who wrote (688)5/9/2012 1:01:37 PM
From: bluesailmesa
   of 806
 
Question James - you have opined that the best course of action for PEM in its current financial condition would be to go on maintenance, conserve cash, until the market improves and it can get adequate financing on better terms to do a more comprehensive drill program. The current cash position of the company of roughly $1M dollars, which includes the $650K just raised, isn't enough to do much. I tend to agree with this approach.

However, Christine Kopr in her interview with Al Korelin a week ago on kereport.com referred to PEM's past success in significantly expanding the resource calculation with only a $500K finance for drilling, and implied that PEM would do so again with money just raised. So my question: is it your understanding that PEM will spend this money intelligently to drill as much as they can this summer to continue delineation of the resource, and seek another round of financing when they run out, market be damned? Or do they lay low, conserve cash, and wait for better times to finance and drill? Do you know? Thanks much ....

BSM

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To: bluesailmesa who wrote (689)5/9/2012 2:48:21 PM
From: james flannigan
   of 806
 
The plans are as now. The 43-101 is finished just the site visit needs to be done by the QP.Expecting that in the 3rd week of May. The company is now clearing the drill pads for drilling to start in the 2nd week of June to infill Friday with the target this yr to boost the inventory of Gold to 2 million.the 10,000 soil sample results due also in the 1st week of June.

The company limited the financing to keep on track the 43-101 and to at least begin some infill hoping for better share prices later to finish the program.

Del is not taking a pay cheque at this time to preserve cash until better market conditions.

My hats off to Del for this.

Conclusion: better get more shares now this stock is going to rebound sharply over the next few weeks and months.

THE GOLD IS THERE AND ITS GOING TO GET ALOT BIGGER.

James

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To: james flannigan who wrote (690)5/9/2012 3:45:32 PM
From: bluesailmesa
   of 806
 
James, thank you for the reply. I am adding to my position - not because you said so (tho it definitely helps :)) but because by any reasonable measure with known facts on the resource and global gold prices today and going forward, PEM is grossly undervalued.

BSM

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To: bluesailmesa who wrote (691)5/10/2012 6:52:02 AM
From: james flannigan
   of 806
 
Selling drill results like these is stupid at 7 cents .In a normal market PEM should trade at $3 with these kind of holes:


What kind of a fool would sell the drill results for 7 cents?



PFR2009-1:

35.6 g/t gold over 1.6 m within 13.8 g/t gold over 5.7 m within 5.0 g/t gold over 17.9 m

PFR2009-5:

8.8 g/t gold over 2.9 m within 3.8 g/t gold over 10.5 m within 1.2 g/t gold over 76.1 m as well as

7.7 g/t gold over 4.6 m within 1.1 g/t gold over 42.7 m

PFR2009-10:

9.2 g/t gold over 25.3 m within 3.8 g/t gold over 121.1 m within 2.7 g/t gold over 198.4 m

PFR2009-11:

10.6 g/t gold over 17.2 m within 2.9 g/t gold over 73.5 m

PFR2009-12:

3.5 g/t gold over 2.2 m within 1.0 g/t gold over 83.4 m

PFR2010-2:

5.7 g/t gold over 76.2 m within 1.8 g/t gold over 274.9 m

PFR2010-3:

3.7 g/t gold over 74.4 m within 2.2 g/t gold over 157.9 m

PFR2010-4:

8.3 g/t gold over 4.9 m including 1.5 g/t gold over 150.0 m

PFR2011-08:

6.8 g/t Au over 2.7 meters within1.0 g/t Au over 117.7 meters

PFR2011-10:

3.3 g/t gold over 4.9 meters within 1.0 g/t gold over 117.4 meters

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To: james flannigan who wrote (692)5/10/2012 8:09:22 AM
From: kaliho
   of 806
 
agreed, however it is what it is.

it may have been stupid to sell PEM at 20 cents, yet it was sold down to where we are today, so now we know it was the right decision for whoever sold then.
many who sold, incl. Dundee know more then we ever will. I know they still own several million shares, but they could have sold something else to raise money if they really needed to. they also have not bought back so far, which makes me wonder why they decided to sell PEM over other holdings.

I was not smart enough to sell even though I was very unhappy with management. I am still holding all my shares. I will have to decide to add or not, since I will not sell now.

PEM's grades are still a concern, as well as Del's credibility. I was happy to read that he is not taking a salary for the time being.... why has that not been communicated to shareholders?

I understand there will be small PP's in the future at hopefully higher prices. lesson learned? past huge low PP's have caused the current mess. the buck stops with whoever made that decision.

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To: kaliho who wrote (693)5/10/2012 11:46:22 AM
From: james flannigan
   of 806
 
A rising stock price can fix alot of things.To focus on the stock price rather than the geology is a fools game.No one not even Warren Buffett can time stock markets over long periods of time not even good companies.

Gold Corp sold its Ana Paula discovery to Newstrike Capital for only $2 million a few yrs ago.they did not want it.

Newstrike is well on its way to a 10 million oz discovery now.Maybe Gold Corp was making the same kind of mistake investors are making now selling PEM @ 8 cents.

Legends are not discovered they are made.

PEM is sitting on a zone that is full of gold every were they drill.

NOTHING HAS CHANGED THE GOLD IS THERE and one day some one will want it.
Gold Corp may have to buy back its mistake.So will lots of PEM investors but at much higher prices.
James

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From: james flannigan5/14/2012 11:25:03 AM
1 Recommendation   of 806
 
IS PEM IN PLAY?

In March I met the people at Midas Gold.We spoke about the prospects of PEMs OSZ and the Friday discovery.Midas made a statement that PEM needed to put 8 drill rigs on that property to ever see the full scope of the zone.This is not lost on Midas that PEM is in no position to be able to pull this kind of drilling off in the current market conditions and PEMs share price in the toilet.In fact PEM now trades at half what it did at the time of my meeting with Midas.

Midas did however state that shareholders holding both companies have been suggesting to Midas to take over PEM and drill it.Midas has had 3 site visits to PEMs property.But any interest by Midas may have been thwarted by the non compliant 43-101 that is now in the end process of being re-filed.This correction could in fact spark new interest by Midas or another rumored company to take a run at PEM.

Most investors have missed the fact that the shortest width of the Friday deposit has been drill in a south east direction.The widest part of the foot print is yet to be drilled to the south west direction.These holes will pass throught the widest part of the Friday structure that is about 4 times the width.I suspect the drill program to start in June will infill this zone.

If these holes were to come in as expected with ore present in long intercepts that are common in Friday drilling, then the number of ounces would climb to a non 43-101 suggested 5 million oz discovery on the Friday Zone.What has been lost in this market of fear is the facts that Friday is likely to become a large discovery.If Midas were smart they would tie up the OSZ before PEMs shareprice recovers and PEM gets the funds to advance the Friday deposit to the 2 million oz target set for 2012.

The non compliant 43-101 is close to becoming history,there is no better time for Midas than right now to take advantage of PEM before the price gets much higher.

James

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