Premium Exploration Responds To Listener Comments
Al Korelin interviews Del Steiner, President and CEO of Premium Exploration, about the companies recent drill results, as well as stock price in relation to gold and silver bullion prices and the market in general.
To Learn more visit:
http://premiumexploration.com
I infinitely prefer AUDIO only, unless you need to use tables or graphs.
Video is a waste of bandwidth for the purpose of seeing faces.
Well, I met Del, and although I understand the dissatisfaction of watching the dilution many shareholders have endured, I’d suggest 3 things:
* Del is willing come on the site, multiple times, and answer questions. Not every CEO would indulge such requests, even if they were Al’s friend.
* I personally think the BC Securities Commission is trying to find something to do. Eliot Spitzer is quite a role model for some.
* I have a bit of experience of what it’s like to need funding to get ‘some oxygen’ again. If there’s nothing to show for it, that’s terrible. PEM, fortunately, has some great assets. They’ve gone down more than the 60% mentioned, but they’re not much different than the rest of their peers in valuation, as noted in the piece. As explorers, they also have better-than-average upside potential.
I don’t own the stock (not yet…after last weekend’s article about Midas, maybe I should sooner than later). I wouldn’t want to invalidate the suffering any stock holders have suffered this year. Just saying that from today’s perspective, the company’s value in it’s in-ground assets, and they are very favorable. If you have the time horizon to hold the investment, the company will do well as the price of gold ratchets up over the next few years.
Answering shareholders’ many questions is not a matter of doing them favours. It is their responsibility. Al knows Del and gets him on the show to answer some questions, so I appreciate the effort, Al. But there is still a lot to answer for. Thanks.
That’s true, LF. But CEO’s could wait until the quarterly conference call, as so many boards often do, before you get any answers.
Si funciona, pero el route63 si bien es muy bueno cobra por cadatnid de redirecciones. Es un simple Zone Editor .Si tienes la posibilidad de usar un dns con GoDaddy o algo ased creo que podreda ser me1s conveniente.De todas formas revisa este post :
I can see that many in the group myself included are very unhappy with the
situation PEM finds its self in.But after
cooling my Jets with a few Green ones yesterday I came to the conclusion that the
current condition of PEM is mostly out
of its control.Market conditions failed to reward the share price and good drill
holes were sold into.This is happening
across the entire sector.Some companies have been punished more that others.A company
I own Newsterike Capital put out a
another golry hole the other day (No other JR out there has these world class holes)
and yet the stock sold off.The day
prior to the NR Lucas Lundins holding company increased its position in NES on the
open market of 800,000 @ $3.11.The
shares closed Friday @ $2.85. So even big bank cash rich JRs are suffering the same
fate.
These kind of market conditions cause JR Flame Outs.These conditions reqire a
management team that can hunker down slash
spending during the Tempest and wait for better days.That is a spot were no CEO
wishes to be,but it seperates the men
form the boys.
This brings me to PEM. A series of storms have been raging over PEM for the past 9
months.
The drill program got off to a slow start
The labs were backed up so data that was needed to find drill direction was not
available in a time to finish the
25,000m program and that caused PEM to fall well short of the plan.
When holes were reported even some very good ones,the stock was sold off by a market
that was in a irrational mood.
So all of those conditions were outside the hands of the managemnt team.
Now we find ourselves with a low treasury,a restatment of a 43-101,and a financing
that is unclear as I write this.
These thing are in the hands of management and therefor can be fixed.
The financing if any should be very limited,drill programs shold be very
limited.Spending should be cut.And last
management must restor investor confidence by making the 43-101 compliant ASAP.
Then slow it all down and wait for better market conditions to improve before a major
financing to fill up the
treasury, wait for the market to respond to to drill results in a more rational way.
And last but not least investors who hold PEM stock should remember Rome was not
built in a day.And Rome is not
buring.Market conditions will one day return this current depression in JR gold
stocks into one of the greatest buying
periods in the JR resource space.Thats not to say more Flame outs are on the way but
PEM will not be one of them in my
view.
James
FIXED THE TYPOS SPELLLINNG WAS NOT MY BEST SUBJECT IN SKOOOLE
Cooler heads
I can see that many in the group myself included are very unhappy with the
situation PEM finds its self in.But after
cooling my Jets with a few Green ones yesterday I came to the conclusion that the
current condition of PEM is mostly out
of its control.Market conditions failed to reward the share price and good drill
holes were sold into.This is happening
across the entire sector.Some companies have been punished more that others.A company
I own Newstrike Capital put out a
another glory hole the other day (No other JR out there has these world class holes)
and yet the stock sold off.The day
prior to the NR Lucas Lundins holding company increased its position in NES on the
open market of 800,000 @ $3.11.The
shares closed Friday @ $2.85. So even big bank cash rich JRs are suffering the same
fate.
These kind of market conditions cause JR Flame Outs.These conditions require a
management team that can hunker down slash
spending during the Tempest and wait for better days.That is a spot were no CEO
wishes to be,but it separates the men
form the boys.
This brings me to PEM. A series of storms have been raging over PEM for the past 9
months.
The drill program got off to a slow start
The labs were backed up so data that was needed to find drill direction was not
available in a time to finish the
25,000m program and that caused PEM to fall well short of the plan.
When holes were reported even some very good ones,the stock was sold off by a market
that was in a irrational mood.
So all of those conditions were outside the hands of the management team.
Now we find ourselves with a low treasury,a restatement of a 43-101,and a financing
that is unclear as I write this.
These thing are in the hands of management and therefor can be fixed.
The financing if any should be very limited,drill programs should be very
limited.Spending should be cut.And last
management must restore investor confidence by making the 43-101 compliant ASAP.
Then slow it all down and wait for better market conditions to improve before a major
financing to fill up the
treasury, wait for the market to respond to to drill results in a more rational way.
And last but not least investors who hold PEM stock should remember Rome was not
built in a day.And Rome is not
burning.Market conditions will one day return this current depression in JR gold
stocks into one of the greatest buying
periods in the JR resource space.Thats not to say more Flame outs are on the way but
PEM will not be one of them in my
view.
James
Latest 10 SEDI filings (by transaction date) for PEM within the last 6 months [?]
Amended Filing
As of 11:59pm ET March 18th, 2012
Filing
Date Transaction
Date Insider Name Ownership
Type Securities Nature of transaction # or value acquired or disposed of Unit
Price
Jan 20/12 Jan 16/12 Vint, Michael Direct Ownership Options 00 – Opening Balance-Initial SEDI Report
Jan 11/12 Jan 6/12 Dundee Corporation Control or Direction Warrants 55 – Expiration of warrants -4,000,000
Jan 11/12 Jan 6/12 Dundee Corporation Indirect Ownership Warrants 55 – Expiration of warrants -4,000,000
Jan 6/12 Jan 4/12 Dundee Corporation Indirect Ownership Common Shares 10 – Disposition in the public market -531,000 $0.125
Dec 21/11 Dec 20/11 Dundee Corporation Indirect Ownership Common Shares 10 – Disposition in the public market -680,000 $0.126
Dec 21/11 Dec 19/11 Dundee Corporation Indirect Ownership Common Shares 10 – Disposition in the public market -347,000 $0.130
Dec 16/11 Dec 15/11 Dundee Corporation Indirect Ownership Common Shares 10 – Disposition in the public market -442,000 $0.132
Dec 15/11 Dec 13/11 Dundee Corporation Indirect Ownership Common Shares 10 – Disposition in the public market -387,000 $0.155
Dec 15/11 Dec 13/11 Dundee Corporation Indirect Ownership Common Shares 10 – Disposition in the public market -291,000 $0.146
Dec 12/11 Dec 9/11 Dundee Corporation Indirect Ownership Common Shares 10 – Disposition in the public market -278,000 $0.162
Hi John,
Appreciate your comments and wholeheartedly agree. I do own Premium. Bought awhile back around .40, and just loaded up some more at .14. I agree that Premium has a huge land package, great asset, have struck mineralization in about all their holes. Del seems like a good guy, although I have never met him. If he’s a friend of Al’s, then that’s good enough for me. Muchas gracias!
I don’t own premium but I would much sooner buy into this play than Apple, which reminds me of The Nortel fiasco. The trouble with High Tech stocks is you are only as good as your last product and that is not much of a foundation to build on, when you underperform for only a little time the markets can be very cruel, $600 can soon become $300, a drop of 50% but you need a gain back of 100% to make up the difference.
Hi Shawn, John W and Mr. German,
Great comments.
Not sure about the 10 new for 1 old. That is a bit of a radical idea.
Best,
Big Al
Al you may want to call me again.
James 905-384-4270
I certainly would like to hear the conversation.
Lynn
Hello Lynn,
Me too. Al, can you get James F. on again. If we’re near a bottom with Premium, I’m going to load up some more. My gut(and that’s considerable)tells me they will be a big gainer for those who are patient enough to hang in there.
Best
castanheiro,
I agree as do my colleagues. We are certainly looking toward the horizin with Premium with the latest news.
Take care,
Lynn
Have you ever thought about wrniitg an e-book or guest authoring on other websites? I have a blog centered on the same ideas you discuss and would really like to have you share some stories/information. I know my readers would enjoy your work. If you’re even remotely interested, feel free to send me an e mail.
If Premium can prove up 2 million ounces at Friday, times $50 gold in ground in Idaho, they should reasonably be able to get $100 million for Friday. That was Wilfs plan from the start to prove up and sell Friday and I hope that it remains the same. With $100 million cash Deadwood and Buffalo Gulch could be drilled out. What I am wondering is, $pin off Chrome Mountain for shareholders or not?
With the internet allowing the investment community to find answers to questions they may have about public companies that in the past would not have been possible, one has to ask Premium which seemed to imply with the most recent NR that the NI43-101 document that was completed for the company by Mark I. Pfau, MSc. of Tellurian Exploration Inc. located at 3275 Terrace Dr. Missoula, Montana if he may have been aware of the planned amendments to the necessary documents which appear in an NI43-101 that were made final by the CSA on June 30th, 2011? I think it would also be of interest to the retail investors in Premium if they could be given the qualifications and previous experience of Mark as there seems to be next to no record of any previous involvement by himself or Tellurian with other companies in the creation of a NI43-101 other than with Premium.
Thanks, hope to hear back….
Joey,
We will broach this issue with Del.
Big Al
oh nuts! i was hoping you’d say canon well aanwyy, i’m from northern MN, and i love love love your work. I could look at your photos all day long!!!
“The warrant exercise completes the funding for the $7,000,000, Phase-Four Exploration Program, which includes the first district-wide +25,000 meter drill program along the Idaho Gold Project” stated President Del Steiner.
“The $1,912,500 provides additional capital to unlock shareholder value for the +25,000 drill program currently underway.” stated President Del Steiner.
With these two statements made in back to back NR’s by Premium, could you tell me why Premium is currently sitting with ~1M in the bank and other than the property purchase last summer very little results to show for the exercise of warrants last year?
Both very good and constructive comments. Hope we get an answer or two.
I appreciate the bonhommie around this site but this company is in a tough bind and we need more than an exchange of platitudes to get it back on its feet.
Thank-you for your questions Mr. Walmsley
Hi Joey,
I have passed this on to the Company.
Big Al
Thank you! I have found that the Peabody Essex Museum often features a new angle on aledray-famous artists and their work. A good example of this was PEM’s Man Ray & Lee Miller Partners in Surrealism show in late 2011 (you can read my post about it: . PEM is a great cultural resource for Boston.
Kewl you should come up with that. Exlencelt!
al nice work by the way . i was curious to know how and what type of funding was going forward now and later and like all of us wondered if it was appropriate to ask about the pdac rumour at this time assuming dell wants to answer and is allowed to. any info on the timing or plans for the montana spinoff would be great. thanks again for keeping retail investors in the loop.
The Video and lower timing band at bottom are Wonderful and extremely practical improvements to the site! Highest regards! Ian H.
Many thanks Ian.
It is more practical in my opinion and it is a lot of fun to do.
Big Al
Thank you for your opinion Big Al. But I suggest to you that we are living in radical times and we need to do all that we can to protect are investments. Iv,e seen it done with other companies. Best regards, Tom
You bet Tom, we all need to protect all of our investments!
Big Al
There are MANY, MANY, MANY exploration companies that are taking it on the chin at this time. I’ve been reading the KITCO news company releases and some of these explorers are hitting ABSOLUTELY excellent grades, yet the market just yawns. I really have to agree with Tom, John W., Clay, and others on this site…people are just TOO skeptical and scared to be coming into the juniors right now. Think of it guys – If you got “cupcakes-lollipops-and-rainbows-for-everybody” from CNBC, toutTV, and MSM telling everyone that things are “just G-R-E-A-T!!!” but reality and common sense are telling you otherwise; wouldnt you be a little bit hesitant to get into the markets, much less, the junior resource sector, which is known to be the MOST volatile of all?
I think that I am going to agree with most of the pro’s out there and that is to accumulate and hold on SOLID companies that have low dilution, good grades in the ground, great management, safe jurisdictions, and LOTS OF prayers because even what appears to be the best or “really great” companies is not a garuantee.
have a great weekend and thanks Big Al!
Good advice Mark Alan,
You also have a great weekend.
Big Al
Hi Mark Alan,
I would agree with you on all points.
Excellent comments.
Best
“SOLID” being the word everyone should be paying attention to in your post.
Mze apne phn pr ivr sewa active karnwi hai…aur yhe jan na hai ki isme daily bapu ji ka live satsang sun skte hai kya.. Monthly rent kitna hai Plz tell me
Know I’m a couple days late jumping in here–but either way–two comments:
1. Yes, other companies are getting punished, but to whoever brought up Newstrike, NES, that situation is completely different. They are a *cashed up* company with a $300M mkt cap. The market “yawns” at huge drill results because they are expected, and no further value will really be added here until the potential is ‘proven’ with a 43-101. NES has nearly tripled over the last yr or so and some consolidation is expected. PEM on the other hand it practically out of cash and will remain sitting ducks until risk appetite returns to this sector…I’m not sure what that will take. Apparently gold at $1600+ is not enough to make people greedy and they seem content to either hide under their beds, or chase Apple.
My other comment relates to selling by the “large insider”—this selling only began Dec.1 and pushed the stocks from 19-20 cents down to 14 or so…looks like most of the damage was done already from 80 down to 20.
Hahaha you all lost another 50% on this dog…PEM spent $500k of shareholders money in 2011 on IR…are they a mining exploration firm or a marketing company?
Do the math, James. I lost more than 50% up to this point. I still have faith however.
Do people laugh at it when you make an honest mistake? I would hope, for your sake, that they do not.
Big Al
Maybe it,s time to put the takeover rumors to rest and implement a poison pill. How about issuing 1 old for 10 new, in case of hostile takeover bids. This might ease shareholders concerns and create a buying opportunity. Your opinion would be appreciated.