Is that an indication of someone loading up or someone dumping?

I throughly enjoyed using my last few thousand useless shares to vote against everything.

Cheers,

PW

Old news. PLE's dead and buried. Time to move on.

http://www.businessinsider.com/look-for-high-growth-oil-and-gas-juniors-josh-young-2012-6

From this article:

Unlike most oil and gas stocks, Gale Force is up for the year. It is well financed, growing rapidly and trading at a discount to the value of its cash flow and reserves. Gale Force recently announced production guidance in excess of 800 barrels per day (bbl/d) by the end of the year versus 275 bbl/d at the start of the year. It is possible that the company could get to 1 thousand barrels per day (Mbbl/d) by the end of the year. With a current enterprise value of around $20 million ($20M), it is undervalued relative to its peers and relative to the liquidation value of its assets. Gale Force is in the process of drilling to prove undeveloped locations and recompleting three producing wells. Production could exceed 600 bbl/d by the beginning of August. These projects have a very high rate of return—a triple-digit internal rate of return in many cases. It should create a lot of value over the next year or so through this capital program. Over time, the equity price will begin to reflect that. If Gale Force traded to a normal industry multiple of $100,000 (100K)/flowing barrel, with 1,000 bbl/d production by the end of the year, that could make for a $100M market cap versus the current $20M market cap. There is a lot of potential upside.

TER: Does this multiple apply to junior producers or is that more for mid-tiers and majors?

JY: That's a great question. It's not really still applicable for really small companies, but what Gale Force is doing will make it very applicable. Gale Force has been looking at royalty trusts that have been spun off by companies like SandRidge Energy (SD:NYSE), Chesapeake Energy Corp. (CHK:NYSE) and the management of BreitBurn Energy Partners L.P. (BBEP:NASDAQ). Once production exceeds 1,000 bbl/d, Gale Force will stabilize production with continuous drilling and workover programs. Those assets are being evaluated for spinning out to a royalty trust. The valuations on royalty trusts are well in excess of $100K/flowing barrel. Even now, after a few months of weakness in energy stocks, most of the royalty trusts are trading in excess of $250K/flowing barrel. There's a capital expenditure requirement, but even netting the capex requirement, 1,000 bbl/d of stabilized production could be worth more than $200M. In general, a $100K/flowing barrel metric is more appropriate for a larger company, Gale Force does have a near-term monetization plan. I think the $100K is fair. As a potential royalty trust offering becomes more of a reality, the stock could price it in.

TER: Have other small companies successfully spun off or converted into a royalty trust?

JY: Absolutely. Recently, the management that runs BreitBurn Energy had a private company that was smaller and grew over the last few years. They spun it out as Pacific Coast Oil Trust (ROYT:NYSE). The initial valuation was about $300K/flowing barrel. Production was approximately 3,000 bbl/d. Gale Force produces less but is higher margin. I don't think there's necessarily a size requirement beyond the 1,000 bbl/d Gale Force will achieve. A spinoff needs to be a certain size for investors to want to participate and for liquidity, but I don't think it should matter too much if it's 1,000 or 50,000 bbl/d as long as the yield is similar and the cash flow per unit is similar.

With the massive amount of dilution over the last few months, especially for yesterday's very questionable acquisition, the company is either fairly valued or very over valued.

It certainly is NO longer under valued.

There are over 150 million shares, warrants and options with most of the warrants' and options' exercise prices at 30 cents or less. That means this stock is NOT going past the mid-30 cent range any time in the next year.

Sorry!

I had to laugh when I read this in the MD&A. They are only NOW starting to run the Malin plant, even though every NR in the last year states it should have been running for months and months. And apparently we are the 100% owner, even though J&M did all the work and spent all the money to get it up and running. On top of that, poutine-for-brains is now threatening to sue them if they don't open their books.

DIB, please, please, please, please, please don't let this moron anywhere near the management or directors after you buy up PLE.

Cheers,

PW

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Malin Plant
The Company owns a flotation plant located in the La Libertad department in Northern Peru close to the Oro del Norte, Grand Chimu and Lucma concessions. It is located some 125 km northeast of Trujillo. The plant was bought from the Peruvian government at the time when the Company was exploring the Cascajal project. The Plant is now fully operational and will begin operations in the second quarter of 2012.

In December 2009, the Company signed a 50-50 joint venture agreement to operate the Malin Plant with J&M Business, an important Peruvian producer and exporter of precious and base metals. The agreement has a 5 year duration ending in December 2014. Plexmar remains 100% owner of the plant.

The joint venture will produce copper, silver and gold from properties owned by J&M Business and Plexmar and from local sources using the Malin plant. The flotation circuit of the plant was rehabilitated and a carbon in pulp circuit has been added to process gold ores. The plant has all the permits and necessary authorizations to operate at full capacity. The plant has an installed capacity of 100 tonnes per day to process gold ores and 100 tonnes per day to process polymetallic ores.

Plexmar's subsidiary has formally asked J&M Business to provide access to the accounting books of the operating company to audit the amount of invested capital by J&M, expenditures, costs and revenues incurred to date in order to define and share the operating profits on a 50-50 basis as dictated by the contractual agreement. Additional investments incurred by J&M may need to be reimbursed prior to a 50-50 split of profits. Should J&M not cooperate with the Company’s demands, legal procedures will be initiated to cancel the joint venture agreement.