RE:RE:RE:RE:RE:RE:RE:RE:RE:News- New Director
Lundin says hold Premium Exploration
2014-05-15 17:42 ET - In the News
Brien Lundin, in the May, 2014, edition of the Gold Newsletter, says hold Premium Exploration Inc., recently five cents. Mr. Lundin said buy in February, 2014, at 28 cents. Assuming a $1,000 investment for the buy, the position is now worth $178. Premium has cancelled a $1-million private placement arranged in February. Mr. Lundin says that has the potential to significantly delay exploration at the company's Idaho project. On the bright side, it did manage to raise $425,000 by selling its Bennett Lumber Company mill site and Red Elk properties to New Jersey Mining Company. Premium received a $125,000 down payment, and will receive $125,000 plus 5-per-cent interest on Aug. 15 and $175,000 plus 5-per-cent interest a year later. The editor admits $425,000 is far from enough to pursue an aggressive drill program. He still likes management's plan of digging below the near-surface mineralization at Idaho's Friday deposit. Until it can find the necessary financing however, Premium is a hold.