Franco Nevada's Pierre Loassonde, Jim Sinclaire, and several notables have been saying lately that they expect the precious metals market could possibly (as in maybe) remain sluggish for part, or most of 2013. Meanwhile, given poor market conditions for explorers and junior miners, and the ongoing broad based difficulty in obtaining operating capital, Pierre Lassonde's Franco Nevada company is helping to finance deserving companies by using their $800,000,000 in cash reserves until the precious metals market conditions improve. Perhaps PEM is preparing for their next round of financing, in the event it is needed soon, in the absence of a new partner or buyer willing to pony up for a fair price. Whatever the amount, hopefully it will be sufficient to allow PEM to make real progress throughout all of 2013, while paying all of it's obligations.

I suspect you are right Primed, in my opinion. In the absence of a new partner, buyer, benefactor, etc., PEM will need to arrange additional funds within a couple of months (+or-), depending on the current infill drilling plan progress, unless those arrangements have already been made. In the interim, companies like Franco Nevada are helping explorers, like PEM, for the short to medium term. I have no doubt, however, that the help that is given does not come cheaply.

http://kingworldnews.com/kingworldnews/Broadcast/Entries/2013/1/23_Pierre_Lassonde_files/Pierre%20Lassonde%201%3A23%3A2013.mp3