If PEM can now accomplish all of the desired infill drilling this year; if PEM can get the Friday Petsite’s resource count total up to 2.0 million ounces of gold (which I believe very possible); and, if the precious metals and mining sectors-markets simultaneously rebound over this coming year, then PEM will shine.

Without this Logan JV deal, where would PEM be? A bird in hand is worth two in the bush. A JV or a sale of PEM was inevitable this year as was apparent 2 years ago. PEM will not be one of the potential 70% TSX firms risking anhilation in the coming months, provided this deal closes. If this deal fails to close, then PEM is vulnerable to having it’s bones picked clean by the vulchers waiting in the wings.

Big Al says it is a “sad,” day for Premium and/or shareholders. Perhaps our friend Al was refering to PEM having no good choices under the circumstances. I feel that PEM has been saved and I, for one, am grateful. I support this recent JV decision. We survived. It was always all about the money, as I wrote recently. It still is. It always will be. 2 million ounces of gold, in a 43-101, by this time next year, is possible. If the gold price rises, as is expected in the coming year, then our share price should do exceedingly well.

My thanks to all those who did not loose heart. This was a very tough time for PEM and it’s shareholders, but no longer. It will remain a tough time for 70% of all the other explorers and juniors who are financially anorexic from cash depravation. I extend my personal gratitude to all the PEM folks who sacraficed their incomes, while working hard for the company and it’s shareholders. Many shareholders, including institutional investors, stand by PEM as more than mere “fair weather friends.” We continue to see the mega potential of the Oro Grande Shear Zone and the Idaho Gold Project. We just could no longer afford to harvest that significant potential independently, on our own, by ourselves.

We all would have loved a better deal. So, unless any of us know of one we should have taken, “we gotta dance with the one that brung us.” I’ll do my part by proclaiming: “Thank you Logan Resources. I, for one, appreciate your offer, (in the absence of any other better opportunities). Welcome aboard. Let’s go drilling!”

marwal