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Gold/Mining/Energy : Pioneer Metals (T.PSM) -- Ignore unavailable to you. Want to Upgrade?

To: violet peterson who wrote (149)	2/12/1999 6:11:00 PM
From: violet peterson	Respond to of 502

Hi Everyone Re- read the news release and it tells us that Cameco is going to be spending a lot of money on Pioneer's claim options in order to get 60% of the action. Pioneer Metals still has ownership of 99'655 acres 100%. Now if this is the property that Pioneer is now drilling on I can't say 'but I imagine it is. So at present Pioneer metals has the best of both worlds. If the drill results are good with there drill program along with now having a partner on some of there other claims it has to be a win win situation. Good Luck//

To: violet peterson who wrote (149)	2/17/1999 11:50:00 PM
From: Rise	Read Replies (1) \| Respond to of 502

Pioneer supposedly had majors wanting to do a jv on this property for sometime now. From what I have read (you can get absolutely no info. by phoning the company because they are anti-promotional), Pioneer was going to try find the source themselves. Uranium deposits are difficult to find because they are very small tonnage with high rock value (Kaiser tracker). If they did not have success on their own, they would bring in a major to help fund project. The announcement of the Cameco/PSM joint venture in my opinion indicates Pioneer has become a next year project, and the way the shares have been trading lately, I don't think I'm far off. We'll probably see $0.10 again before we see $0.30. Management probably just blew off some stock in that "flurry of buying" post announcement. I guess its a hold for now. Maybe i'll average down again at $0.10 this summer. Any comments would be appreciated. I'm long PSM and hope the lack of trading action in PSM is due more in part to their anti-promotional nature than it is an indication that they have come up empty this year. Help. I'm just a novice investor. Rise