Penbar Capital Ltd V.PEM

NO RES UPDATE FOR AWHILE IMO.....

[wood6411]

I might as well add my 2 cents worth as well I suppose. Seems everyone is on the edge of their seat waiting for the infamous resource update. I'll admit, I was also expecting something to come out, especially when I was at PDAC speaking to the execs there. There was so much excitement amongst them, and it seemed like any minute now the holdup crew in the hotel room would be phoning with the numbers.

Well, that was them, and this is now. My sources tell  me to not expect any resource calculation numbers until after the next round of drilling. There too many gaps/angles,etc in between the existing holes to make it meaningful, or I should say, the best bang for our buck. You can bet your next paycheque that the next round of drilling will increase ounces on every hole drilled. I think they will be strategically placed to take advantage of this.

I am as disappointed as everyone on here that the new calculation numbers wasn't released by now, but it is what it is, and and out of our control. The company doing the resource calculation are very conservative in how they count and what gets included. This is a good thing actually, so when it do get released, you can take it to the bank.

Mr Steiner should be visiting the site any time now. Perhaps as we speak. I do believe it is milder than usual for this time of the year, and drilling should get going a bit sooner then was thought. Actually, in my opinion this will be the next NR. The announcement that  "Drilling has started".

So folks, try to remain calm (I know it is tough) and sit on your hands for another while. Not much you and I can do. Add a few shares if you can. I will put in a stink bid for next week and see what happens. Too bad that gap up back at .27 wasn't filled. I spoke of this weeks and weeks ago when everyone was high fiving and frothing at the mouth. We were climbing the mountain back then, and no one cared or thought the share price would stop going up. But look at the ski slope we are on now though. Looking at the technical chart, it seems we are creeping down to that area ever so slowly. Will we touch it? Who knows?

Will post a tech chart over the weekend.

Good luck everyone.