Yes, the Juniors and Majors are watching. Thanks Boot. I also play devil's advocate and enjoy other's who do so as well. It allows for all kinds of evaluations and annalysis. I always enjoy yours.

If a hostile takeover was attempted for all of PEM for a very cheap price, in my opinion, I doubt the institutional shareholders, and most of the long term retail ones, and the Board, would approve of some "dirt" cheap offer. Even for just the Friday, I doubt the Board would sell it off for pennies on the dollar, unless there was some very good reason for having to do so. I think we are safe from being robbed. A reasonable offer is another story. But, then again, what is reasonable for the Friday and the new Monday? There seems to be a fair chance we will have 2m (+or-) ounces there by the final assay of Phase 4. (Infill drilling and a 43-101 not withstanding). In total, perhaps by the end of 2012 we could have much more. If a company would make an offer based on 3.5m or 4m ounces, even if not yet included in a revised 43-101, or dependent on a new 43-101, I suspect they would be getting close to a reasonable asking price for the Friday-Monday. Yet some, including unofficial company guesses, think there could potentially be 5m (+or-) ounces there.

I am fairly convinced, based on what I know, that the Friday will be in play. It may already be in play. There would be significant advantages to getting a reasonable price for the Friday within the next 6 to 18 months, if possible. I think Del has indicated that such a strategy might be a likely option for PEM. Of course other possibilities can't be discounted. So how much might the Friday and Monday "reasonably" (emphasis added) be worth per share if the above scenario were to play itself out? And what price for the in the ground ounces? $100? A couple of buyouts just happened for in the ground prices of $300 and $517 which may have been very special exceptions.