Al, thanks for getting Del on to chat.
The reason for the sell-off is completely explanable:
1. they announced a financing in an incredibly weak market, WITH NO PRICE ATTACHED–once you tell a weak market they’re getting diluted, but not told by how much, you just create further panic.
2. issuing more warrants??!! this is not good
So roughly speaking, $7.5M will be another 50M shares, nearly 40% dilution, add in the 25M warrants and we’re talking 50% dilution. yikes.
Realistically I’m not sure how much more downside is here, but a massive financing at the bottom (hopefully) of the market is disasterous. Where’s the foresight? Where was the financing when the stock was above 50 cents, and it was known money would have to be raised by year-end? The cash poor companies are, understandably, being hit the hardest. If they had raised $ at 50-60 cents, the share price would probably be holding 20-30 cents pretty comfortably…just my opinion, of course, but not unreasonable given the sell-offs we’ve seen in other juniors with tremendous projects like PEM. 80 down to14 is insane, while many other are down “only” 50-70% from their highs

I have learned that there is a lot of risk in investing in junior explorers. I had a ton of money in explorers over the past 12 months lost so much of it. I only have one explorer at this point and plan to add no more. I will only invest in production stories going forward. Be them junior producers, mid-tier, or majors.

This is gross incompetence and inexcusable.

Del is concerned about his bottom line but not shareholders. That’s contemptible.

Its the story of too many of these juniors. You can tell when a financing is planned — just look for a 52 week low to approach and you can expect it.

This is not an accident– after all it can be avoided if planned for more wisely.

Premium, save your money jetting to your meetings selling the story. It isn’t working (the share price being the arbiter here ESPECIALLY when you are trying to raise funds) and save your money from promoting this as the next big deal on banner ads. That has not panned out. Tightening your belt on marketing schemes that have done nothing for the stock price and exacting further fiscal restraint for use in drill programs will serve your shareholders more. Marketing with individuals and groups can be done around Big Tent events. The first thing we put on waivers in a fiscally challenged environment was travel. If the story is so great, it should sell itself and no amount of travel meeting one-on-one with your peeps is going to change that. Witness, again, the share price….The only ones of benefit here are the new shareholders who get shares at a pittance to what I’ve paid for them.

I am irked that I bought into that story earlier in the year anticipating news from Chrome Mtn and others have the same shares at a fraction of the price….

Del had a chance today to show real leadership and stop putting all the blame on the Markets and put some blame on himself . His PP News without fixing a price to it and letting the market decide in Tax loss season was the full blame for this price freefall…Does he think that every company has lost 85 percent …Does he take us as fools…

So Big Al ,if you bought into the PP ,it must mean that the price has been fixed..The problem here is that IR at premium was saying that the reason that they didnt fix a price is because they were waiting for all the drill holes at Deadwood to come back ,and that they were expecting the price to go higher for a PP.. This was when the price was at 19 cents..It now looks like this is not the case..I looked back to all of Premium and alot of other companies PP finance and i have yet to find one that did a finance without putting a price to it..Why Big Al…This is the question that I want Del to answer ..

No extra dilution! Bullsh*t.! Just because they had warrants, which would NOT have been exercised, and they are now sold as shares DOES mean extra dilution.
You may be happy with the companies potential, Big Al, but that does not mean it is a well run company.
This is a company that is being run into the ground FOR ONLY the benefit of the directors, not the shareholders. (Otherwise they would suspend dilution until a better time.)
I’m not selling my shares, since I don’t need a tax loss, but this is CRAP management. AND FEEL FREE TO TELL DELboy.

Traderrog is acquainted with the project and the management and endorse what they are doing. Markets are off for all now but they will return and regain strength.

Hey Traderrog,
I am by no means saying the project does not have great promise.
I am saying the project is being mis-handled. Del may have had success in the past and I believe past performance is often a measure which should be considered.
I look a company as being like a ship. A rising tide raises all ships.
Selling shares is like taking on more passengers. You should refinance when the market is high not during stormy times. Take on enough passengers and the ship sinks, regardless of how sleek and modern it is. I see this time and time again when a company fails to finance at the right time. Then they try a reverse split, rename the company (so that folks can’t see how bad the management has been) and try to start over . I complained several months ago the management was too generous with options (now in light of the pathetic stock performance and subsequent dilution that may not matter).
Delboy is not running a tight ship.
For Delboy reference look up “Only fools and Horses”

We are all fools if we think that PEM and others are not specifically targeted by crooks and brokerage houses because they are promoted on a free service website. You get what you pay for. I am also stuck with this company until I can bail in January and forget about most exploration companies for producers. There will be more suckers people, be calm and reasonable. PEM is dead money because of this absolute stupidity by ?management?. How can you ruin a story like PEM without trying?

If anyone listens to Jim Puplava, he stays away from almost all Canadian stocks like this because of illegal and immoral behavior by the Canadian brokerage houses that seem to have free rein on companies like PEM.

Maybe there are uncovered and counterfeit shares outstanding to drive the price down in between short position reporting periods of the 15th and 31st of ever month. By the way, these reports are still 15 days old by the time Stockwatch or the like can report them to the serfs. At least with lottery tickets you have a chance at winning…

http://www.kereport.com/2011/11/18/del-steiner-president-premium-exploration-candidly-answers-questions-listeners/
I guess that the reputation of Al and Del remain as someone must have edited the comment about dilution in Pem shares and there would not be any more than what would have been added by the Dec. 17th warrants. No need for any explaination as the word of some is all that “retail investor” can use in their investment decisions….Thanks for the interview…..