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If the stock get hit due to another delay in the 43-101, this would be a good buying opportunity. The consensus is the 43-101 will be good so either way, this should be a good time for MTO. I sent the company an email a couple weeks ago and they said they were on trasck to publish by end of May so tomorrow should be the day.
What’s Up with Premium Exploration? QUESTION : Jay, what on earth is going on with Premium Exploration? The stock has tanked unbelievably! ANSWER: I put this question to Christine
Kopr at Premium Exploration and here is what she said: “PEM attracted a lot of speculators into its market; people who only cared about a quick buck they could pick from someone else’s pocket on sensational drill hole. Now, because there has been a pullback on news, the general psychology is ‘timid.’ That’s alright because the stock is moving out of weak hands. “Secondly, the drill results helped us complete our private placement, but now the market is pricing in the $0.10 stock and $0.20 warrants. Going through my 14 list, of the 6.7 million shares, insiders took down 2.1 million, those close to the company took down another 2.0 million and the balance is held by other close hands with smaller positions (under 100k shares). From the feedback I’m getting, I don’t see a lot (more than 1 - 2 million shares) hitting the market any time soon. “I think PEM will tie up a decent share of the private placement at whatever the market is and get drilling underway quickly as the drill is sitting on the property now. That should get the share price moving upwards again. Then, I think you might start to see some of the $0.20 warrants being exercised that will bring additional funding to the company. Upcoming shortly is a new resource calculation. My feeling is it will be a positive change . . . and after the $0.20 warrants are exercised, this stock should be on its way.” EDITOR’S COMMENT
EDITOR’S COMMENT attractive one. Read back over our initial buy recommendation of June 5 and our update of July 24 (which you can read in our June and August monthly letters, too) to see why we think this company has world-class potential written all over it! Not only that, it has prospects of producing gold in the not too distant future, from which it should be able to fund future exploration and hopefully minimize future dilution, to drill what amounts to an 18+ kilometer long, highly prospective gold-bearing structure. Our suggestion to speculative investors is that you pick up shares of this stock whenever possible at under $0.20.
: Make no mistake, this is a speculative stock but we think it is an extremely
