Some market forecasts are calling for much more of a market decline in stocks, commodities, precious metals, etc. over the next several weeks or months in the absence of another QE initiative. Predictions easilly call for gold to rise much further in the years ahead. Meanwhile, PEM is closing in on rounding up close to a possible 2m ounces at the Friday. In 2012 perhaps the Friday will have yielded 3m ounces, with more to come, at just that one location.

Elsewhere, PEM continues it's exploratory drilling hitting good gold 100% of the time, using their tried and proven "treasure map" developed on the basis of all test results. How much is that treasure map worth? If the map is only 50% correct, as opposed to it's current 100% reliability, how many economicially mineable ounces might there be on PEM's land holdings? What if PEM's treasure map's accuracy dropped to an unthinkable 10% accuracy? How many ounces might they have? 9 or 10m? The number is way too low. But what if 10m ounces was the number that a buyout offer relies upon? What would it be worth per share? The possibilities remain enormous given the 60km of potential mineraized structure identified thus far. (1.2m ounces found on about 1.5km).

A significant boost in shareprice isn't likely to happen over night, perhaps not even in the next several weeks or months. But when market conditions for PEM turns upwards they will have advanced their exploration and had time to prove it has far more than a mere 1.2m ounces. PEM will likely be advancing it's standing, among all of it's peers. PEM may well be one of the few who will be able to claim to have world class status.

I would be willing to bet that one or more offers for PEM has already been informally considered and discussed in some Board room. If so, we will never know. Such offers at this stage of drilling would have been too low and therefor unworthy. PEM needs time to drill up more property, to be able to argue the point that the number of ounces are greater, and that the property is therefor worth much more. Meanwhile, the share price has some catching up to do. To me, it is not a question of "if," but rather a question of "when," once the market upheaval dust settles.