I will have to consider accumulating some more shares.

Seriously, at this price, they are way undervalued, and at 0.60, they start to become outright gifts.

I hold a reasonable size stake in PEM already, but have plenty more dry powder if the price drifts down low enough.

I am, frankly, conflicted.

I own enough shares to want to see them just keep going higher till they reach a fair value. Which should also keep going higher as more resources are proved up. One loves to see steady profit.

However, if the price drops low enough, my greedy side kicks in.

I consider PEM about as close to a sure thing as there is in the Junior Resource arena.

My greedy side would just love to snap up more and more shares at way undervalued levels.

Who knows, if I continue to accumulate, I may have to file as a "major shareholder".

Does anybody know at what level that kicks in?

(Seriously, I am a long way from that level - unless it is somewhere below 1% ownership. I think it starts around 5% to 10% or so, but do not know for sure.)

Let's do some real quick math.

Already indentified gold (M & I & I at Friday-Petsite) = 1.222M oz

Fully diluted shares = approx 160M shares

At $0.63 per share, the already indentified gold is going for around $82.50 / oz

This is for the Friday-Petsite resource alone!

What is the rest of the OSZ worth, even speculatively?

What about Chrome Mountain?

What about the potential the company has for its enormously successful resource identification methods? Surely there is some commercial value in that alone?

In other words:

1. You can get ownership in this company for less than $85.00 per identified ounce of gold that is already in a NI-403 101 compliant resource estimate. How can you go wrong with that?

2. You get all the rest for free on the side:

a. All the rest of the speculative upside on the remainder of the OSZ - whatever that potential is, and I consider it to be very large indeed.

b. Any other prospective properties that PEM owns (esp. Chrome Mountain)

c. Any and all other assets that PEM owns - including, apparently, a highly successful methodology for identifying where to drill (the more expensive part) based on other surveying methods that are cheaper to implement.

These, of course, are merely my own personal opinions, and I am not an Investment Advisor, and this should not be construed as investment advice. (Standard Disclaimer)

As noted above, I own shares in the company.