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Gold/Mining/Energy : Pallaum Minerals (ASE:PLM) -- Ignore unavailable to you. Want to Upgrade?

To: Andrew Bailey who wrote (466)	7/27/1998 12:55:00 AM
From: rdww	Read Replies (2) \| Respond to of 536

They spent $1.5MM last yr - $400K on the office and promotion - $690K on property payments and about $400K on exploration. As much $$ went into admin as exploring! Not good enough - especially when you see the potential they feel they have w/ CVP. Drill it - make it a must have for PDG. CVP is not a high cost producer - if it was shown to be a viable deposit tomorrow - there would be a bidding war for it. These are desperate times for juniors - so amend some of those properties payments, JV them or drop them. Make a deal on one of those so called 'not good enough' deals for a JV partner and proceed w/ work on another site. You can't keep 11-15 properties in this environment unless you have a lot of cash. PLM doesn't. MNP has a property next to PDG - POrgera in PNG. MNP is and has been drilling all yr to prove up something of worth that PDG will want, despite the POG. PLM was extremely lucky last yr with that one hole - it's time to follow up on it and see if it was more than just luck.