Penbar Capital Ltd V.PEM

Primary Symbol: V.PEM.P

Penbar Capital Ltd. is a Canada-based capital pool company. The principal business of the Company is to identify and evaluate opportunities for the acquisition of an interest in assets or businesses and, once identified and evaluated, to negotiate an acquisition or participation by completing a qualifying transaction. The activities of the Company are initially limited to the efforts to identify and evaluate the acquisition of assets and business, which would represent a qualifying transaction for regulatory purposes. The Company has not commenced commercial operations and has no significant assets.

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Penbar Capital Ltd

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Post by opeechee8on Aug 23, 2009 6:32am

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Post# 16241480

Korelin Report Highlights 4 of em

Highlights! :

June 10, 2009 - Al Korelin interviewing Del Steiner... Al Korelin lists the 4 gold zones of the Orogrande Shear Zone.

Al Korelin states "...Buffalo Gulch is the big one, Friday-Petsite (2nd), and the other 2 zones consisting of 110 claims. Also Mexico drilling to begin in Oct/09

June 25, 2009 - Del Steiner states "... 2-5 million ounces at the Friday-Petsite and 2-5 million ounces at the Buffalo Gulch" Al Korelin then notes " 4-10 million ounces total for the idaho project" ... also 800 meters of drilling.

June 29, 2009 - Del Steiner states " 3000 feet of drilling (7holes)

Aug 7th, 2009 - Del Steiner states, "...7 drill holes to expand the 43-101 of 531,000 ounces to advance rapidly to 1 million ounces. ...close to 1 million ounces in one fifth (1/5) the geophysical anamoly...this area (Friday-Petsite) that we are drilling we have 4000 feet to go in the zone..
... we are happy.
... another 12,000 feet of drilling this year.

My (opeechee8) take :

These 7 holes have increased the resource to 1 million ounces and it only represents 1/5 the zone at the Friday-Petsite zone. We may be looking at 5 million ounces just at the Friday-Petsite zone alone kids. This is the upper limit of Del Steiner's estimate so no wonder he is happy. We are not looking at a 4-10 million ounce find we
are looking at a 7-10 million ounce find. The last drilling results were excellent but too investor's don't know their math.

What makes Del Steiner happy makes me happy too hehe.
Go PEM go!!!