Thanks for the compliment Quan Gork. I agree with you. I have consistantly said that financing was always my big worry. The gold is there. The Friday is most likely economical to mine if gold is somewhere above $1,000-1,100 an ounce (maybe a bit higher). I have also been mindful of the precious metals market prices, (both the metals and the shares). In that regard QE did not have the impact the soothsayers said it would have when they said it would happen. They all have egg on their faces. Small explorers have been gutted, financially. Many are gone. Share prices plummeted for nearly all the miners too. PEM got clobbered when the selling of shares hit hard and certain events overtook the company.
Looking ahead, I still see the same concerns: the need for the precious metals market to clearly bottom and to rise nicely, and for financing. This has been, is now, and will be, my biggest concern, until we can mine and produce gold profitably. The sooner the better.
I don't know John Ryan's plans for news releases. But I suspect a nice news release with the remainder of the assay results will fall on deaf ears. It could spike the share price for a while but so long as financing and the market connditions remain worrisome, then sellers would likely cause the share price to fall once again. Announcing good news in this market could be a wasted effort except for those who would buy low now, and sell upon a good news release, and then buy again once the share price settled back down. What we really need, for confidence to remain stronger, are for prices in the market to strengthen in a clear uptrend. Then, I suspect, John Ryan would rather announce good news. That doesn't mean he wouldn't do it sooner though. Perhaps some kind of an interim (partial) news update will be forthcoming. But, I have no idea as to if or when.
Casey Research came out with an opinion this morning on whether gold has already seen it's high or whether there is a lot more to come, for those who can access the report. The whole industry is waiting for a bottom. Those who can produce precious metals at a profit are mostly doing so. Some are reportedly holding back waiting for better market prices. All in all, we, and most of the industry, are in the doldrums, a sailboat at sea without a wind.
