Penbar Capital Ltd V.PEM

RE: Kinross Mining Feasibility Study

[Greenstake]

Folks listen here's what Kinross already did on this Friday-Petsite property:

1) Run an exploration with 192 holes
2) Used a 3d extrapolation and ore body layout design model
3)Develop an open pit heap leach mine model and perform structuredwalkthrough in order to get it to the maximum production throughput.Design the mill and heap leach to handle the mined quantities.
4) Perform a detailed cost analysis of the equipment, materials, labor, operations costs, etc. etc
5) Then they figured the cost per ounce to mine the gold.

After those exploration and cost projection analysis, Kinross calculated the cost was $1367.00 US per ounce.At that time they sold the property for closing costs of $70,000.00dollars. This after they had invested 7,000,000.00 dollars inexploration, engineering analysis, and admin costs.

Now if PEMsuddenly finds motherlode style quantities in the remaining 4 holesthen things could change, but what are the chances of that afterKinross drilled 192 holds and found squat.

There is not enough gold density over mining volume to make a profitable mine.

You may have a point there as the results yesterday weren't exactly "stellar".  Add to that all the BS manipulation and this dog just aint going to bark beyond Coffin's endless pumping. Shareholders were looking for conformation that this play had what it takes and yesterdays news release by management failed to garner the support needed which is why the stock tanked and may continue to do so to .20c where it was before this speculative run up on hype began.

There were other gold exploration juniors this week that has better assays, I can think of two which come to mind right away. The amount of manipulation is what has sent the people scurrying and I see no evidence of let up but rather increasing as these dolts try to play PEM shareholders once again for suckers to line their bank accounts.