Thanks gm -

The post from another board makes sense. The money for the infill drillling allows PEM to prove up more ounces (if they are there) and then Osisko (or perhaps someone else) can be more sure of what they are buying into.

It will cost the "suitor" more cash to buy into PEM in the future because of the (hopefully) elevated share price that results from an expanded resource. However, this tact saves an investor the cost (and embarassment) of buying into a project that does not prove be a viable resource.

The OSZ is exactly the type of resource that lends itself to this deal. The project looks to have a multi-million ounce potential but more drilling is needed to demonstrate that. If Del can put the drill in the right places this time, PEM wil quickly become worth a JV (or even a buy-out).

I still suspect that it will be a buy-out. But my hope is that a revised resource value will lead to a reasonable buy-out offer (which we are not to going to get at this time)

- panamax