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.

TSXV:PEM.P - Post by User

Penbar Capital Ltd

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Post by JoeKoolon Feb 03, 2011 11:27am

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Post# 18068769

You guys shouldread the FRG

NR today about being bought out by Newmont for $14/share. FRG's Long Canyon property reminds me of PEM's OGZ. They have 1.2 mil ozs. in the M&I category at Long Canyon and 4.5 mil ozs. at all their properties. In the NR, NEM stated they thought Long Canyon was similar to a Carlin trend type discovery and they thought they could increase gold resource 3-4x at Long Canyon. FRG has 120 mil s/o. NEM paid a premium to FRG because of what they believe is still to be discovered/proven up at Long Canyon. This type of scenario could very well happen to PEM. If PEM only increases ozs. to just over a million but hits with the drill along the OGZ in phase 4 drilling we could easily be a $3 stock with a buyout by a major believing we have many more ozs. in the ground.

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