Ann: Change in substantial holding , page-2

I wonder what's going on here.

Van Eck are continually buying up stock in PIR and have steadily moved up from 8.6% on January 24th to currently 14.07%.

They appear to be taking about 1% per month according to the last three announcements.

From 12.04% to 13.06% to 14.07% on the 7th of this month.

I'm sure this is on the radar of some majors. When you look at the quality of their recent quarterly and cash reserves of $41.2 million plus around 15 million in the money company options that will convert into ~$12 million, this is surely a target.

So my query would be, is Van Eck purely in for the investment potential or could they be assisting a third party?

I'm well aware Van Eck are holders of other goldies as investments but they do seem very keen and consistent buyers here of a non producing company.

I'm very keen to see PIR move to a producer, as I've been a long term holder since the 13 cent days, but I'll be surprised if there is not some type of third party involvement at some stage.