To my way of thinking, this is all about 2 things. The precious metals market correction and it's effects on funding-financing availability. Period. For PEM, I have only been worried about sufficient funding, for good reason, as it turns out. MaxV, you might recall my first bringing this up 1.5 years ago in late summer or the Fall of 2011 when I posted that I thought PEM should be arranging additional funding because the amount they had stock piled would be insufficient. You diasagreed with me and wrote that you did not want to hear anything further about funding. Welllllll ???? I was right then, have been ever since, and remain so today.
PEM has had everything else going for it. It has the gold, it has great tests, decent enough assays, a class Geologist, a gifted IR, and a totally dedicated and committed CEO. It's Board of Directors includes people of talent, success, skill and proven ability. What is missing from this formula remains to be funding. I hope the Board members have done everything within their power to help solve this issue. That said, I continue to believe that we will see the metals sector recover within several months (+or-). The length and depth of this market correction has caught the entire industry off guard. Consequently, 70% of the industry is on the ropes, so to speak, PEM included. In my opinion, PEM "can" obtain the needed funding to get through this market downturn. Del has to make it happen and I believe Del will do it. Assuredly, there is more than one option at his disposal. So, we will have to wait and see, or sell our shares. I choose to wait and see. In my opinion there are many reasons why this issue will get resolved. That does not negate the negative emotions and disappointment many of us feel throughout this waiting process.
Again, to me, this is what it always has come down to. Ensuring sufficient funding-financing. Remember, virtually all sector firms did not see this lengthy market correction coming so most do not have sufficient funds on hand.
So what are the options? I can think of a dozen different ways to proceed. I have every confidence that Del is far more experienced at this than I am. I have no doubt he will have more than one "poker in the fire." Del has choices. None are the best, nor do they occur at the most opportune time. However, procedural choices are "guaranteed," none the less. I have had my say on this subject with all who would listen. Now, like everyone here, we impatiently wait to hear any news Del can release as time goes by. I, for one, want to encourage Del and his team. They need our support in times like these. They need to know that they are not alone and that their continued efforts are deeply appreciated.
Allow me to mention one more time: PEM has the gold; they likely have made one of the largest discoveries in the US and/or North America in decades; and, they possess a 100% accurate and proven treasure map that shows where all the gold is located. All they need is a respectful proper partner to help make this discovery a world class success. It is all about the money.
