So glad you are posting your thoughts again Primed. You were away for too long.

Allow me to also add, and it probably goes without saying, that there are many reports-articles about average grades for new deposits being less than PEM's current documented average grade; that new discoveries of 3m ounces or more are increasingly scarce and are in high demand; that miner's resource inventories are depleting on average and need to be added to for the future; that the economically mineable g/p/t/ average being mined, by some miners, has declined to .3 to .5 g/p/t/; that PEM's boots on the ground people unofficially think they may have 5m oz. (+or-) at the Friday-Petsite alone; that the drilling has had an almost unheard of near 100% success rate; that the overlayed multiple test result map(s) have proven to be near 100% accurate so far; and, that the unofficial number of km's of potentially mineralised structure (using all the test data thus far) significantly exceeds the 60km officially stated number.

The market conditions, as you said, have been poor for 14-16 months and it has taken it's toll on a majority of TSX explorers. With an approximate few million ounces already taken from this OSZ area, via mostly scratching the surface placer mining, and given the numerous test results, it is believed by many that perhaps only 10% (+or-) of the ounces worth mining have been recovered from the OSZ that PEM occupies. I could go on and on, but the primary hinderance for drilling up this whole 30km long property at the moment, as you noted, is the probable desirability for a joint venture partner or buyer of the Friday zone with the funds to allow PEM to continue it's quest. Now is not a good time for most all explorers to finance major drilling initiatives. The precious metals market needs to rebound, and I think it will, sometime in 2013 in order to improve the finance climate for PEM and hundreds of similar firms. The one's with the gold will do the best, obviously.

Frankly, PEM has the attention of many possible suitors. There are many non PEM geo's who can look at all this same data and see the identical OSZ potential. To realize that potential PEM needs funds to drill. I also agree with you that the upside for PEM is potentially historic. I personally see an estimated 20m (+) economically mineable ounces on PEM's land holdings.

Lastly, I am supremely and unequivocally confident that we will see new highs for gold prices over the next couple to few years and that we will see additional interest in PEM by those looking to add ounces to their inventory. That all being said, I think we will see something important, worth remarking about, sometime soon within the first or 2nd quarter of the new year. There are just too many Confidential Agreements out there, too many miners looking for new inventory in safe locations. They have geo's who can see what our esteemed VPX Mike Ostenson and his team can see. They will either make their bid worth while or they may forever have to hold their peace, and risk loosing out on what may become the largest, or one of the largest, new gold discoveries in the past couple of decades. 2013, in my humble opinion, will likely be a rewarding year for PEM and it's shareholders. Yes, there are no absolutes, no guarantees, but we do know what we have here. I do not think for one minute that we are the only ones who know. Not by a long shot. As you so aptly said, and I quote: The upside here is fantastic, especially if the market conditions improve or there is a buyout. And so, I ask, what then if we are so fortunite to see both?

Thanks for your sage words Primed. I, for one, look forward to your future insights. . . .

Happy holidays to everyone.

marwal