I was told today by PEM that their "goal has been to take the resource to a million ounces at the current cut off. . . . . (not adjusting the cut off at this time for gold's increased value, etc.). . . and we feel confident we have reached our goal."

IR believes the share price has been in this trading range "because we have a large in- the-money warrant overhang." "When there was 3.5 million share volume last week, the volume was used to exercise warrants." "Not a bad problem to have; money coming in the door. . . "

". . . the company is adding value with every (news) release but the share price is not (now) moving up for a good reason- warrants and RBC is holding us between .44-.47 as they lighten up their position. . . with every (news) release PEM has been going further and further on sale. . . . (current buyers) are getting more value at less cost (at today's share price). . . one day that overhang won't be there . . . and true value will be realized, and share holders who take advantage of the situation (buying more at today's prices) will be rewarded. . . accumulating (going on) at these levels for weeks. . . you can't have any buying at these levels if you don't have any selling. . . "