I got this from another shareholder (Thanks Joey). Great info. It says that Osisko appointed a VP for exploration in USA and opened his new office in Denver at the end of 2nd quarter, 2012. Osisko has 2 exploratory interests in the US, with PEM (PMMEF) being one of them. It also says that Osisko is looking to add to their gold reserve inventory in the USA. Looks like a JV for the Friday or maybe the whole OSZ is in the making soon? One which would fund the drilling, make PEM a star, and possibly lead to an open pit operation on PEM's privately owned land at the Friday. Here is the info:

Nevada gold properties (Global Geoscience Ltd.)
An option agreement was signed during the first quarter of 2012 with Global Geoscience Ltd. whereby Osisko can acquire an initial 45% interest in five Nevada gold properties by expending US$8.0 million in exploration over a four year period and subscribing for 14.2 million shares at an issue price of
.06 per share for a total of $912,000. Osisko can acquire an additional interest of 25% in any property (for a total interest of 70%) by completing a bankable feasibility study on such property.

New exploration office
The Company opened a regional exploration office in Denver, Colorado towards the end of the second quarter of 2012 in order to run exploration activities in the USA. Mr. Sergio Cattalani has been appointed Vice President Exploration, USA to lead the efforts in the USA, and Ms. Anne Charland will assume the leadership of the Canadian exploration activities as Vice President Exploration, Canada. Ms. Charland was previously Project Manager at Hammond Reef.

Outlook
During the second half of the year, the Company will continue to focus on completing the ramp up to design capacity and on optimizing its operations thereby reducing its operating costs. It will also continue its pursuit of various growth initiatives through the search for additional gold reserves and resources, and by advancing the feasibility and environmental impact assessment studies at Hammond Reef.