Al, if you ever get the chance, I’m curious what you think of Crocodile gold. crk.to They have at least two operating mines in Australia, nearly 1 million oz. au proven and 6+ million in au resources…they are in debt as they just bought two producing mines for $70 million and other considerations this past quarter…and their latest report stated that while they were pulling gold out of the ground at $1170/oz. this quarter, they will be reducing that cost to the $700-900/oz range after closing a low grade mine. (they claim to be producing it at around 900 now)

They are based in Australia, and producing 200+ k oz au/yr ( to be ramped up to 300k oz within about 2 yrs.) At about 2gpt, I think they are a bargain at .325/sh. with a market cap around 100 mil and 3300 sq km of property mostly unexplored! yahoo finance has a forecast of $1.50/share in 1 yr. – and I believe $5 within two years…but am new to pm investing and again…I don’t know management.

What the market needs is another VEN or ARU to light a fire under all JR spec names including PEM. Pem has now bought time with the latest financing to wait for such a discovery to take place that gets investors in a risk on move.Iam willing to bet that Newstrike NES is the real next VEN or ARU.
This stroy will lift all boats.
Newstrike Capital Strong BUY Target $10.75 with over

Dear Al,
Did you invest in the $350,000 debenture that was announced yesterday?
Are you less enthused, or more enthused, about PEM’s future prospects?
Would you start fresh with investing in PEM today, as much as you have in the past, if you had it to do all over again?
Thanks in advance.

It appears, as it did the last private stock offering, that Premium’s management team raises just enough cash to continue their outrageous compensation packages. Clearly, at mid-day on Wednesday, the market is not impressed with this latest move.

Al – I appreciate that you believe Del and PEM management are hard workers and basically honest stewards of the company committed to shareholders’ best interest. I agree that they are.

However I thought that they, or you after conferring with management, were going to give an update on the BCSC review of the revised technical report. We have heard from Del all summer long that it was basically just a technical update to shore up the data – i.e., not that big of a deal. At the beginning of summer, Del/Christine said it wouldn’t effect the drill program – i.e., they would go ahead with it concurrent w/ filing of revised report. They also said they would file the information in beginning of summer. Both of those turned out to be false; everything has taken longer, the filing, the decision to suspend drilling pending review of documents, and the company has issued two dilutive placements of both stock and now senior secured debentures without advancing anything beyond filing a tech report it previously said wasn’t that big a deal and much behind schedule from what they initially said it would take to file.

Are you, or management, or anyone going to inform shareholders when we can expect the BCSC to act one way or another (I know we dont control them but someone should be able to provide a reasonable estimate based on past practice). Or will we continue to be subjected to information blackout, delay, changing of stories, promised updates that either don’t happen or happen late and say nothing beyond we think mgmt is working hard.

When can we expect some real intelligence, I suppose is what I’m asking. Thank you for your efforts.

Al: Another question for Del is how much of his own money is he investing into the latest placement? As I recall, he bought nothing into the earlier private stock placement at 15 cents per share. Now, we all know why. Sure is comforting to me when I see the wealthy owners puting their money where their moth is.

Thanks in advance,

Clark

Sorry for the spelling typo.

I would recommend NES any day…I also like GWY a lot.