Friday, February 25, 2011

Why I am buying PEM (Premium Exploration)


Idaho doesn't just have silver, lead and zinc, but also has GOLD! I've been accumulating a moderately-sized speculative position of Premium Exploration shares. http://www.premiumexploration.com/

It's a huge district-sized play, with a current MC of $60M and a huge upside. (FD warrants would add about 30% to the share count) http://tmx.quotemedia.com/quote.php?qm_symbol=pem&locale=EN

This includes a recent drill result of 1.5gpt over 134 meters,which is quite good for a potential open pit. (I have speculative money in Richfield RVC for the same reason. RVC has a MC 4x greater, though I'm not making a direct apples-to-apples comparison)

http://tmx.quotemedia.com/article.php?newsid=38000302&qm_symbol=PEM

They have 100% ownership of a 95 sq km area with historical mines and an existing 43-101 of 500K ounces, inferred. Good BNN video, corporate presentation, and interactive 3-D model on their home page. http://www.premiumexploration.com/

Sprott and RBC own shares, and I trust their Due Diligence as much (or more) than my own!

Caveat Emptor, do your own research and be sure not to invest too much. If this stock goes to zero, I will not be sleeping under a freeway overpass!









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