The extra money put into PEM might have been partially due to the participating fund companies wanted share positioning into Pem's new spin off Montana Company , if Moriarity's article was accurate, which I am sure it was. The more shares owned in PEM before the spinoff, the more shares the PP participants will own in the the new Montana Land company.

This appears to be a good move for PEM and us and I think the market will see it that way too.

I'm very pleased that the quality of our projects and our exploration to date has attracted knowledable long term investors and led to increasing the previously announced private placement. The Company is currently drilling 10,000 meters in the Phase-Three drill program on the Friday-Petsite project and is looking forward to increasing shareholder value .

I hope this all is better to be True because I don't like dilution and this is Big Dilution, if these Funds are seriously about PEM then I hope they will buy Millions of PEM shares on open market before they will try to sell, let's push this stock to new highs!