Thanks for getting Del on to discuss the project. Does not reassure me that they have the funds moving forward. Maybe you can ask Del how much money Premium has in the bank. What are the plans to raise funds in the immediate future because the Markets may not turn for months. How many CA”s remain?

Al, here are some tough questions for Premium

CASH
What cash do you have in the treasury?
What is the cash burn rate?
In how many months time will you be forced to raise money?

PERMITTING
Where can we find information about the Environmental Assessment process? It would be nice if Premium posted links to the application documents on their website. I assume they are available through the USFS and the BLM.
Is there a firm timeline for the process? I believe there used to be for the BLM.
Who is opposing Premium in the permitting process? I do not want to be supporting a group that is working against my own interests.
What if the permitting process looks like it is going to get bogged down in red tape, does Premium have any work around scenarios?

PEOPLE
It always scares me when I hear that people are working for nothing. While it is a good indication that employees are vested in the project, it can lead to negative outcomes: 1) the loss of key people loss of key knowledge, 2) demoralization as time goes on, 3) if Premium has a harder time than anticipated raising money, there comes a point where people have to step away.
What does Premium have planned for the above scenarios?

Also, you could ask him why the PEM website is down? Keeping shareholders in the dark is not the correct way to go about things. I agree Big Al, if you have to go let the air out of his tires to get answers, then please do…..LOL. I understand the brutal market right now, but there are other companies out there who have good projects and are able to move them forward despite the market conditions. They also have to anticipate and be ready for the upturn and all signs right now point to a break out in the near future.

Some on Montana would be nice to

cehughes02@fs.fed.us (Clint Hughes)
This is someone you may ask to put your name on the list requesting information about the USFS EA progress once it becomes public.

Friends of the Clearwater and Idaho Conservation League were the two groups that put 215 appeals into the USFS in connection with the final decision on the Friday Minerals Exploration request.

Rather than speculate I will forward this on to Del.

Big Al

i think most of pem’s shareholders would like a serious update on montana, its been quite a while and with sru under the knife and swc under fire from shareholders we could use some enlightening on the situation.tia and appreciate the site..

Please also ask where the money to pay the interest on the debentures will come from. And what happens if the 15% is not paid?

In the 9 months statements back in Nov it stated that $118,000 had been paid for travel, will this expense be curtailed going forward?

In these same statements $220,000 was spent on office rent and office nd general, will smaller accommodations be found?

Is Del now working for free too as the 9month statements say $490,000 was spent on professional and managment fees.

In the 9 month statements $320,000 was spent on shareholder services has this been curtailed?

I calculate that these expenses are running at $125,000 per month. Those same statements say PEM had $600,000 in the bank. That equals 5 months of office, travel, prof and mgt fees and IR not including debenture interest or drilling.

Please have these questions answered.

Al – Brent Cook at Cambridge House Investment Conference this year said, essentially, juniors with less than half a million in the bank in 2013 won’t be able to do anything all year and will likely just fade away. It appears this is exactly the situation PEM is in. Now, Brent is not always 100% correct about everything, he is also not in any way biased towards PEM as you, Del, and investors like I admittedly are. But I think we need specific answers about the future from the company (such as those already posed in this blog) to show why his thesis does not apply to PEM.

Jeff

I have always been a big supporter of PEM.But now I feel we are in a death dance around real answers. Del has CA agreements that he claims he can not talk about.But that kind of situation serves to keep long term investors always guessing and lower share prices are the result as he can not due his tell us what the hell is going on?

The CAs only are serving the possible JV partner and giving them a clear advantage to drag the share price lower and do some kind of deal at low prices or face bankruptsy.So my question is, Is the CAs helping us or hurting us? I think most smart investors can find the answer in the share price.
This situation is becoming to look like a total flame out for PEM shareholders.

James

I totally agree with your assessment Mr. Flannigan. I recently sent Del an email with concern about implementing a shareholders rights plan, due to the potential of a hostile takeover, and got no response. This is not the type of managing style that I expected and am very dissappointed with the lack of information, as I am sure, are alot of shareholders. 3 1/2 cents! c’mon. This kinda reminds me of the old adage, ” with friends like this I don’t need enemies”. Very unhappy shareholder!

I think Del should go to any CA partner and tell the my first duty is to my shareholders.I need to update them regardless of the CA.The CA has tied my hands and is causing liquidity problems in my share price,that in turn is putting PEMs solvency in question in my shareholders minds.If the JV CA partner wants to be our partner then they would understand the tough position Del is in and allow him room to update his shareholders.If not then we might be better with out them as it seems they smell blood and are waiting to lay claim to the OSZ in the event PEM can no longer pay the fees to keep the cliams in good standing.

It is my view its time for Del to deliver news for better or worse.

James

It is my view that if Del isn’t more forthcoming with information we will continue to sink in share price and end up like vlc and sru. C’mon Del turn this around. If I thought for a second that it was going to end up like this I would have stayed away a long time ago. I haven’t given up hope on you yet though. Just hope you can pull that Rabbit out of your hat. Time to tell your CA to show us the money and drill the heck out of the OSZ. I expect it’s to much to ask for a little bit of Montana info?

Hi Big Al, on March 5th you stated you were going to sell some stock in PEM. I just noticed at the top of this page you say you are holding your position in PEM. Does that mean you changed your mind and didn’t sell any stock in PEM?