Reply to MaxValueHolder: It allegedly (supposedly) is closed. If accurate, the next steps that would now be in progress are for the PP participants to have legal documents reviewed and approved-agreed. Once that is done the finance package gets sent to the TSX stock exchange for final appoval. This process is mandatory once the PP is closed. That is why there is a delay in announcing the final financing arrangement, with a NR, till perhaps sometime close to mid February. A NR announcing the final arrangement could come sooner or later depending on whether there are questions, issues, glitches, etc., by participants, or whether everything can sail smoothly through this process of vetting the PP through legal representatives, stock exchange officials and/or regulatory officials. PEM has no control over this process.

I had surmised many months ago that there could be financing matters by the end of 2011, and there were. It may now have been been addressed. More to come. It is the way of things with non-income producing explorers. I am hoping someone offers a very fair price for, or offers a strong Joint Venture with PEM, for the Montana property and/or for the Friday Zone in Idaho, at some point in 2012. Some very financially sound Major would be nice. There are reportedly many Confidential Agreements (C.A.'s) in existance for the ID project and the MT property. We will see if anything comes from them or not in due course. For now, my hope is wishful thinking. Some prefer the spin off of a new company in Montana. Personally, if the right price is offered, for the Montana property or the Friday Zone in Idaho I'd love to see PEM be able to increase shareholder's value while filling their coffers with cash to fund drilling and other administrative and operational expenses for a long time to come. I think many shareholders would like to avoid future financings, if advantageously possible. Although if the conditions-terms are not advantageous, then I would feel otherwise. But that is just me. There are other opinions as well.

Hope this answers your question and/or is of some help.