KWN's interview of Eric Sprott's Asset Management's Rick Rule. Interview title: "Juniors to rocket because of discovery and consolidation." Highlights (summary):

- They are now buyers of Junior equities;

- They see encouraging news releases from Juniors;

- Market to get some unexpected surprises to the upside. . . better and better exploration work being done;

- Somebody is going to hit something very significant. . . it will kick off the exploration market this year or early next year;

- The Majors are having problems replacing their production (precious metals) reserves and discoveries will continue the consolidation theme. . . . (End).

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/7/21_Rule_-_Juniors_to_Rocket_Because_of_Discovery_%26_Consolidation.html

My thoughts:

Many annalysts are saying the same as the above.

Additionally, PEM's Friday site is now past being large enough to be economically mineable. The Friday-Monday site could well be at 2m oz. AU by this winter, and could well end up hosting 4, 5, 6m ounces; The Project X site, the Deadwood site the Buffalo Gulch site , and the many dozens of additional killometers of estimated mineralized structures hold untold significant promise for a currently unquantifyable "district size" number of ounces; serious drilling is now underway and continuing successfully; a possible future large open pit mine potential is now no longer only speculation; scoping study is already underway; Juniors and Majors have been touring the Idaho property; PEM management has a tried and proven "treasure map" of where to drill; the property could have the potential to host 2, 3, 4, mining company production operations and might be too large for just one Major; based on the science-geology, some wonder if the number of eventual mineable ounces will rise to 20m ounces, 40m ounces, or higher; and, there has been educated hypothesis that PEM is a (+) Billion dollar market cap company in the making. All we need is for past drilling success to be replicated for the most part. In my humble opinion, I have no reason yet to think it won't be. It is just going to take time to drill and an improving market for junior explorers. Indeed, I believe Premium Exploration has surpassed the "junior explorer" status with all that it has going for it. Miner-producers, who already covet PEM, and who are in need of replacing or expanding resource inventory, will wonder which of them will be the first to be victorious in capturing part, or all, of PEM's riches. I give it 6 to 18 months in which some company makes some requisite "serious" proposal for part or all of PEM's, and our, assets.

Current share price not withstanding, keep the faith. The company is marching forward. The leprechaun's gold pot at the end of the rainbow has been discovered. PEM just has to "explore" and add up the gold filled pot's contents. . . . .

Have a safe and wonderful weekend to all.

marwal