This is great news, I was waiting for this to happen, it is probably because of new calculation of resources values according to higher Gold prices. Let see this report from Primed and thanks for this report:

http://primed24.wordpress.com/2011/06/28/premium-exploration-pem-stock-up-at-a-discount/

Premium exploration is currently striving to bring an entire mining district into development. PEM hold a 30 kilometre property into their portfolio which houses multiple gold deposits and multiple historic mines. Through aggressive exploration the company intends to prove up multiple multi-million ounce deposits which are suitable to mining. Those projects are currently in a variety of stages with the Friday Petsite deposit being most advanced.

I am writing this brief post to illustrate the current discount at which this stock is trading. Below I have summarized what I believe to be the current minimum value of this stock:

Table 1: Total value of gold in ground currently defined by Premium Exploration.

*value based on $100 per ounce in the ground.

Table 2: Value per share based on value of gold in ground.

Based on the current defined resources and as average value of gold in the ground of $100 per ounce Premium exploration has a net asset value of 88 cents per share. This valuation does not include their Chrome mountain project, cash, or new ounces identified in this years Phase 4 drilling. The stock current trades at 44 cents per share. If the share price appreciates to its full potential that would represent a double on your investment from the current share price.

So if you say that average price of gold in the ground is $200 then you come to $0.88*2 and that is $1,76 and that is closed to target price of RBC. I will expect soon to have more of these raises targets from other sources. If that is true then I will expect a Big price increase in all Juniors very shortly and that is great news for us.

GLTA