Today's sell-off at yesterday's gap was weak and anemic, with volume still under 1M and less than half hour to go. I would probably pick some up here at .45 and then again at .40 if it gets there early next week. All 3 holes were great and it bodes well for the rest of the 2010 drill campaign. With already 600k oz's inferred and now this new material discovery it looks like PEM may have a 3 - 5M oz deposit on hand which would put PEM at well above the current price which would make them a prime takeover target. Underworld got takeout was takeout by Kinross with holes nothing this good although it is early and they drilled over 100 holes in Golden Saddle in the Yukon.
This new discovery makes PEM a must have stock for the portfolio giving PEM a lot of momentum for the coming months. A buy between .40 and the current price of .45 will certainly reward the investor in the future. If they can continue to grow this deposit along strike and at depth at these grades and lengths... Premium SP will be at a premium in the future. I cannot stress how good these results.
Highlights Include:
PFR2010-1: 0.98 g/t gold over 203.0 meters including
2.61 g/t gold over 21.03 meters
PFR2010-2: 1.84 g/t gold over 274.9 meters including
5.74 g/t gold over 76.2 meters including
22.18 g/t gold over 14.94 meters
PFR2010-3: 2.23 g/t gold over 157.9 meters including
3.65 g/t gold over 74.37 meters
To give you an idea of how good this is...
my ratings...
198.94
505.82
352.12
for an average value of 352.29... Now on my excel spreadsheet I have all UW holes recorded and averaged out for Golden Saddle at about 90 per hole. I don't expect all holes to be this impressive but PEM is averaging 352 which is almost 4 times higher in value. Not than you can extrapolate average rating on Market Cap and SP because there are so many other factors that go into building a mine, but it gives you an overall idea of the potential of a project.
PEM is a strong buy. It is in my top 3 picks along with CXT.V and FAU.V.
P.S. Help change the way internet marketing pays for adspace. In any other advertising medium the client pays for the spot, not the interest generated. In internet advertising the person supply the adspace only generates revenue on a per click basis. Given that most information is relayed effectively without giving the audience incentive to click this is in my opinion a one sided pay stream towards the advertising provider collecting revenue from clients and giving very little to those providing the audience and the point of sale. If you like my blog, please support my cause to take a $$$million$$$ bucks from Google through having my readership click the adds on a daily basis. I am generating enough traffic to get significant revenue per click so feel free to scroll through the adds. Some are actually interesting and are promos for mining companies that are about to do a run.
Happy Trading :)
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