Penbar Capital Ltd V.PEM

RE:RE:leasing deal

[nagged]

john wanted to put hte high grade into production if you recall  , im guessing that until gold hits 1500 per ounce we wont get the traction to raise money to go it ourselves with the lowgrade,, all in all this pays the bills and keeps the lights on for 2 years imho and makes us debt free. we need a couple of million cash to proceed on our own on top of what this new deal will bring. if we mined the 176 k oz our selves that would equate to $176 million of dore approximatly and at say $400 per ounce (being generous here) of profit would be 70 million of real income less taxes . its all theoretical of course and if we get 2% of 176 million, whats that 3.5 million over 3 to 10 years it takes to get it done? dont get me wrong as i appreciate what john is doing but this will never get the momentum that del gave with those big cash raises. giving away the highgrade is a downer but is it the current highgrade or the old petsite / walligura tunnel lode? either way it looks like today and yesterday a lot of people got out of pem. maybe some more nr's can get it to stay up, not likely though.