Also in regards to this..

They have also upgraded the resources from inferred to indicated and measured.. so the oz in the ground will be worth a bit more..

I forgot what was the site where they give a rough estimate of how people valuated oz in the ground.. but I believe indicated and measured is about 50 dollars while inferred is around 20 dollar.

So I would give PEM a Market cap around 50-60~mil after they come out with the resource calculation.

Also if the warrants are exercised, I would say the SP should float around 55-65 cent .

How I get this #

$50 x 1mil oz. around 50mil~

Cash if all warrants exercised is about 3mil ~

Other property = 5mil~ (Subjective, but I believe these property are worth anything unless they do show some proof)

So I am looking at around 60mil based on this.

Fully diluted is approximately = 93mil.

60mil/93mil = Approximately 64-65 cent ~. But to be fair, I think we will be around 59-60cent ~

Do remember they only have done around 8k drill on this property and has HIT all targets .

When the 25-28k drill program comes in... expect the resource to increase even more .

Any other opinions would be nice.

Somebody will regret if is selling today for much smaller prices...