A few thoughts on the current drill plan and its timing.PEM unlike any other JR has and unthinkable task to perform in the next 6 months.It is not only going to try to double the current Friday resource at 1.22m oz to around 2.5m oz but at the same time drill about 200 new holes across what they suspect is a 30km zone of possible economic ore.Most jrs are tasked with the idea to concentrate on drilling one discovery at a time.In doing so they can fly under the radar much longer and create large capital gain for thier shareholders before a major buys them out.

But there is a big difference in the case of PEM it has a entire gold district with 3 known discoveries on it already.To bring such a large zone into many stand alone mines would be far too big for PEM to even suggest.This then can only mean one path to take that being drill wild cat stepout holes over the entire structure at once before a major mining company steps up the the plate and buys PEM out to gain any future value new discoveries will create for the majors shareholders.

On one hand PEM could hardly be in a better position, one company owns an entire gold district with three known deposits all about to grow by leaps and bounds in Phase 4 drilling.
But on the other hand a company with a land package the size PEM has is already an attractive take over target even if only one discovery was found by the JR.This I think is the reason PEM has been offered many confidential agreements so early in the exploration cycle.

Judging by the current drill maps of Phase 4 it sends a clear message PEM knows it day are numbered.They know this maybe the only kick at the can before they receive an offer for the company.In my view it is very likely PEM will never get the chance to do a phase 5 program.Major miners looking to replace reserves that were burnt up post the long suspension of exploration brought on by the Bre-X scandle and the depress price of gold due to many central back sales during the early part of 2000 are now forced to scramble to find reservs to shore up balance sheets.

It is my view PEM may not be around in 2012.They know time is not on thier side.There are a growing list of companies wanting the Ororgande Shear Zones and its endowment of world class discoveries.Each week the the buyers list gets baited with more outstanding news data showing understandable geology and the fact that there is going to be alot of new ounces discoverd.PEM has done a great job in exploration results so far.But if you throw enough gas on burning ambers it will catch fire.

James