As some of you know, I have been a long-term investor and advocate for the success of Premium Exploration. The current circumstances call into question whether my dollars spent on PEM stock have actually been an investment.

I see an all too familar pattern unfolding - the dreaded rollup followed by another drop in share price. If we consider that one "new" PEM share is equivalent to 10 "old" PEM shares, their current price (as measured in old shares) is just over $.0055 a share. That is a new low for the stock. It was holding at three times that value prior to the consolidation. So much for getting a better price for a PP

The Romans said to measure every action with the question - "quo bono" (who benefits). Just who is benefitting from this price. Not me - not you!.

Is there some sinsiter force that has driven down the price so that they can scoop shares up and then bring the company to full glory. I can only wish it were so.

I invested the largest segment of my portfolio on PEM because I believed that they held a valuable resource. I thought that it would be developed and that the shareholders would benefit from that work. I appear to have been wrong.

The original management have gone (to a better situation). We have heard nothing (of any value) about the project since they left. We, the shareholders are left holding shares that have so little value that they are hardly worth selling (if you could find a buyer).

I wonder what the future holds for us and for PEM. Some word from management about their plans to develop the OSZ would be useful.

There have been some interesting ideas floated on this very board (i.e. develop an open pit at BG and truck the ore to a mill to generate some cash flow). I'm sure that there are "logical" reasons why something this radical "can't" be done. But managment's best thinking has gotten us to where we are now. Maybe it's time to think outside the box.

I am open to your comments and criticisms. As the last hub leader standing (except for marwal), I have allowed all sorts of posts these last few weeks. For good reason - you have a right to be upset. I know that I am.

But getting mad doesn't solve the problem. Action (on the part of PEM management) will.

- panamax