TSXV:PEM.P - Post by User
Post by
opeechee8on Jul 29, 2009 6:38am
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Post# 16174199
PEM means "Pretty Easy Money"
PEM means "Pretty Easy Money"I wish to compare EVG to PEM:
EVG : 79.95 million free trading shares X $1.49 per share = 119.12 Million dollar market cap
PEM : 39.44 million free trading shares X 0.48 per share = 18,93 Million dollar market cap.
EVG website states a mineralized zone 450 meter long X 200 meter wide X 550 meter deep
with an average grade of 0.96 gpt.... Using my trusty calculator I get almost 3 Million oz of au.
PEM estimates 4 million oz to 10 million oz and has set out to prove this with it's extensive drill
program over it's 28 km shear zone and theorectical feeder zone which may contain as much
as 2500 gpt in some areas.
Conclusion: If PEM's drill program prove a resource of at least 3 Million oz of gold then it's market
capitalization should equal EVG. That is 119.2 Million / 39.44 Million share or $3.02 per PEM share.
wow $3.02 a share based on a direct correlation of EVG that is in an early stage drilling program.
No reason why PEM should be worth any less using apples to apples. If PEM should prove
5 million oz which i still think is conservative. Then a value of 5 million oz / 3 million oz times $3.02
per share would equate to around $5.00 per share of PEM. Those who are long PEM may see their
share prices reach $5 in a few months. Jay Taylor is correct in saying this is the most undervalued
mine in North America. No wonder the Majors are interested!
Stay tuned for the drilling results which I am sure is in the bag (sure thing). A corrected orientation of the
drilling process will prove a much richer find with higher grammage of gold from the area with an already high
grammage that has been proven. Assay results of the 2 visible gold (gv) samples due out anytime now.
The assay is sure to blow the socks off all of us. My prediction "over 100 gpt in some areas"
Also there will be news out about Buffalo Gulch and alot more over an incredible 28 km shear zone.
GLTA.... hopefully we will get the assays this morning!