This company is 47% institutionally owned, with another 9% owned by insiders and close-hands.

They have 550,000 ounces inferred defined only a TINY fraction of their highly prospective OSZ property.
But hands down, I stand by Bob Moriarty on this, and believe that the vast placer projects along the OSZ truly show the potential here. From PEM's most recent corporate presentation:
"+20 km placer mining along strike"
not to mention another gem from the same slide
"15 historic workings along strike"

(see Moriarty's most recent article on PEM here, with a couple key paragraphs from the article below:
http://www.321gold.com/editorials/moriarty/moriarty060810.html )

"You see things on a visit that management knows about but it may not mean anything to them. Here's what I saw, miles and miles and miles of placer workings. Over the last 100 years or so, there has been 400,000 ounces of gold taken out of the valley that the shear zone has created. That's a lot of placer gold. And when you see piles of cobbles stacked up for miles, it's easy to see that there is a lot of gold in the Orogrande Shear Zone waiting to be mined."

from the same article:
"It's pretty much axiomatic that where you have placer gold, you have a lot more lode gold. For example I visited the Livengood Project of International Tower Hill four years ago. We knew from historical data that every drainage off the hill was mined for placer dating back to 1915. I thought Livengood was going to be a really big project. Millions of dollars of exploration has confirmed the presence of almost 10 million ounces of lode gold. So for every ounce of placer produced, there is another 20 ounces of hard rock gold waiting to be produced."
[Note: bold emphasis is mine]

When Bob Moriarty very loosely infers that there could be upwards of 8 MILLION OUNCES (400,000 ounces of placer gold x factor of 20 = 8 million), along the OSZ, it's time to pay attention, and move from back-row hooligan, to front row study nerd in the class

I believe the market is just waiting for the updated resource report that could easily prove-up over 1mil ounces. This updated report will still only encompass a small fraction of the overall property. More importantly, the company has had tremendous success utilizing ground magnetic geophysics to outline target zones for drilling. Some key bullets from PEM's latest corporate presentation sum this up nicely:

"-100% drill success intercepting the mineralized Friday-Fault
using ground magnetic geophysics
-1 km drilled mineralised Friday Fault correlates with part of the 4 km long coincident magnetic high/low geophysical anomaly North Zone suggesting 4 km of potential strike length
-30 km airborne geophysical anomaly over OSZ correlates with both Friday-Petsite and Buffalo Gulch deposits suggesting continuous mineralization along the 30 km"
[Note: bold emphasis is mine]

Management is doing a great job not spreading themselves too thin. They ditched that project is Mexico which was a foregone conclusion as they had long ago made the decision to abandon payments on that project (with good reason--it's not core to the company's focus, and is not worthy of spending valuable management time/effort, not mention capital--especially when you have a potential monster like the OSZ on your hands)
Make no mistake, this all takes time--1,3,5,30km does not get outlined overnight, but when institutions take notice of what's happening and start jumping on-board, look no further than Canaco (CAN) or Gold Canyon (GCU) to see what can happen.

Remember, study nerd, not back row hooligan.

Disclosure: I most definitely own shares, and if this stocks falls back to 30 cents as some bashers on various boards suggest, over-slobbering would probably leave me on an IV drip as I click the 'buy' button.