Penbar Capital Ltd V.PEM

RE: RE: PEM

[ThaiDiamond]

"PEM does not need SNS to go forward."

I agree. But PEM's $1 million won't explore much of the 28 miles of Orogrande Shear Zone.  And their need to drill multiple targets to really build up some serious ounces.

So, outside this current Friday Petsite program, there is a very real need for CASH. PEM either finds a partner or a raises it via a PP. You OK with more dilution?

"1st hole already hit heavy sulphides and some visible mineralization which is always a plus."

Call me old fashioned, but I prefer to wait for assay results.  It's way too early to speculate, but visible gold is more typically in vein type deposits. And while there are high grade, they can be narrow and hence not have muti-million ounce potential as one might find in a low grade disseminated deposit that can be mined cheaper via open pit.

Again, it's way way too early to say...that's why old fashioned moi likes to see them assays.

"They dont need a company in lawsuits etc in the picture."

I agree. But then again, SNS isn't really in a lawsuit. No one is suing SNS. It's a completely different company that's tied up in the bankrupcty proceedings. SNS are using the courts trying to get control of the Sunshine mine, which if successful, will throw out huge cashflow for the junior.

Note this from SNS's PR:

“I would like to assure all parties that SNS will be focusing on thecompletion of the agreement following management’s court appearance onJuly 23 regarding the Sunshine Mine lease."

Hmmm...kinda sounds like both parties are agree to shelve the deal for another month or so.

"I believe a big boy will step in shortly"

Here I beg to differ...with your permission of course.

I know of other juniors -- some sitting on some 2 million 43-100 compliant ounces -- and they don't have a major stepping up.  The majors aren't just watching PEM, they're watching scores of juniors with viable projects.

But I'd love to hear "why" you believe a Big Boy will come riding in...