I didn't even know PEM was on agoracom until I decided to put it in the ticker a few weeks back. Anyways, I am very bullish on this stock. The recent NR was a bit disappointing when compared to the last two assays but they are building up tonnage.
Nevertheless, it looks like Industrial Alliance is bullish on PEM as well:
While a large amount of work is needed to determine the potential for the development of a mine at Friday-Petsite, a considerable upside revaluation of the common shares of the Company is expected over the next 12 to 18 months as the resource potential of the Friday Zone is further confirmed and new targets are developed along PEM’s 28 mile Orogrande Shear Zone land package, which we believe could host several additional multi-million ounce gold deposits.
Also of note:
Based on drilling completed to date, we have derived
P.S. Sorry about the font changes
a conservative back-of-the envelop estimate of the resource zone of 28.5 to 33.5 Mt with an average grade of .94 to 1.14g/t for 0.85 to 1.2 Moz Au. Moreover, these results re-affirm our view of the potential for the expansion of the Friday Zone and we reiterate our conservative blue-sky estimate of the open-pit mineable resource at 1.5 to 2.5Moz, which assumes that mineralization is continuous for 750m from PFR2010-10 to PFR2009-8. Mineralization may actually extend over a considerably longer strike length as the Friday Fault has been identified over 3,000m in mag geophysics.
