Looks like the $5.00 PJO party is over before it started. Seems...

Looks like the $5.00 PJO party is over before it started.

Seems Coeur, BEFORE the "merger" (scrip takeover) has been approved by BSG and PJO shareholders appears to be getting involved hands on at Palmajero . .. see the announcement by Coeur last night about the joint Management Committee which has not yet been released to the ASX.

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"The Committee, which is authorized to ensure the continued progress at the Palmarejo Project until the completion of the transaction, is comprised of three senior management and operating personnel from each of Coeur, Bolnisi and Palmarejo. Coeur's Richard Weston, Senior Vice president - Operations, will serve as Chairman of the Committee.

The Committee has identified the following initial priorities:

Establishing Coeur's on-site presence at the Palmarejo Project and facilitating the integration of Coeur personnel with the Bolnisi and Palmarejo
teams already in place;

Completing an assessment of the present status of construction activity at the Palmarejo Project;

Investigating the development of a combined open pit and underground mine plan and completing an initial estimate of proven and probable reserves at the Palmarejo Project; and

Continuing exploration initiatives at Palmarejo, which totals over 12,100 hectares of prospective terrain, and formulating a strategy for future exploration activities."

For more see http://www.newswire.ca/en/releases/archive/May2007/15/c9404.html