I just want to comment last news and make this in connection with last comments from different investors or day traders.

intention to raise up to CDN$3,000,000 through a non-brokered private placement of 12,000,000 Units at $0.25 per Unit. Each Unit -> I think this private placement will be closed, there is right now shortage of Gold in the World or it will be in near term, well let say that those investors are not looking for some 20% gain, there are looking for greater gains, like 500% and this stock has this kind of power and they are looking for a long run so they are for sure not day traders. Also why should somebody sell right now PEM even if they get shares for 0.1? I really don't find the reason for that, so we have here bottom and that's it, so let say just this, they will have enough cash to proceed with next phase.

The proceeds from the private placement will be used to:

-Further exploration, including drilling, on Friday-Petsite's (NI 43-101) 531,890 oz inferred gold resource (OTCBB:GORO) ;

The Phase I Drill Program successfully demonstrated continuity of this gold mineralized zone. The Phase II Drill Program is designed to delineate the gold mineralized zone to the north and south of the existing resource. This program will further define the target which will have significant implications for the size potential of the mineralized envelope.

Here we can expect a lot of news, first resource update and that should pop up the sp and some other great results should make sp even better looking. There will be drilling because we are still in summer if somebody doesn't know?

-Advance ongoing production permitting on the Buffalo Gulch project;

Here we can see some permition soon because USA can very quickly adapt to new trend and people need jobs and money so no problem with permit, I hope to start with production next year

-Review exploration on the Chrome Mountain property in Montana in anticipation of a comprehensive exploration program in 2010;

This is also great project, no problem with that

-Conduct general exploration on the San Pedro Analco project in Mexico;

Although some people are speaking stupidity about this project it is never bad to add some value to company

-Provide general working capital.

Of course it is always needed to proceed wit many other things

-The funds raised will include up to 7% finder's fees in cash or shares. The private placement is subject to approval from the TSX Venture Exchange.

No problem with this also, some standard should be with business.

So to sumarize, everything is good and we will on the end all make money and that will be ruther sonner than later! So hold on to your stocks, don't listen to some bashers, Gold will go above 1100$ very soon!