RE: Very Good NewsI agree, also liked the release. Everything that is adding ounces is Ok for me. If they keep on drilling they might find another high-grade zone further south or north. Would be great with low-grade gold in between. Nevertheless, if they don´t find another high-grade zone at friday, grades of 0.5 g/oz along 5 km would result in a massive amount of gold in the end.
Below is a great post from agoracom. Posted by renevant_10. Really sums it up and points to the fact that PEM is ridiculously cheap at these prices.
--------------------------------------------------------------
Well, these shares are now being placed in the "bargain bin" by some short-sighted (or forced) sellers.
We are now going for under $115.00 per M&I ounce of gold in the Friday-Petsite zone alone - on a fully diluted basis.
This does NOT value the 879,000 inferred ounces at Friday-Petsite.
This does NOT value the other historical ounces in the other zones.
This does NOT value the Chrome Mountain Project
This does NOT value any of the recent drill holes where mineralization was found and assayed and reported (but not in the M&I or I category yet)
This does NOT value any of the recent drill holes where experienced geologists like what they see, but where assay results have not yet been reported.
This does NOT value any of the future findings and drill holes on the entire OSZ (outside of Friday-Petsite)
These all come for free with the $115.00 per ounce of M&I at Friday-Petsite.
If we include the Inferred ounces at Friday-Petsite, someone is selling for under $33.00 per ounce!!!
(This is approximately the price of mined and refined silver)
With all the other assets listed above thrown in for free.
Did somebody change the value of "gold in the ground" while I was not looking?
Are producers now not buying these ounces or buying at very low prices?
Is this a measure of someone's "panic level" or "forced selling" level?
(The last, I would think)
Pick up these bargain bin values while the getting is good.
After all, gold does not become "yesterday's fad". At least not to this point in history.
Its value may go up and down (to ridiculous levels), but it is always wanted by somebody.