Dear Investor:
Pediment Exploration Ltd (TSXV: PEZ;
OTCBB: PEZFF) was
featured in the December 2008 issue of Greg McCoach?s ?The Mining Speculator?. Please read
the following comments by Greg McCoach on Pediment:
?Pediment recently announced that they have reached an
agreement to adjust its original option to purchase certain holdings in
the La Colorada gold-silver project, in order to both reduce the cash cost to
the company and to accelerate the acquisition. La Colorada gold-silver project
is a past producing mine site with historic output from both underground vein
and open-pit to heap-leach operations. The project is located on main highway
and electrical grid infrastructure approximately 40 kilometres southeast of Hermosillo,
the capital and main supply point of Sonora state in northwestern Mexico.
This should give the company greater flexibility in moving
forward on La Colorado
given the extreme difficulties in our market at the moment. CEO Gary Freeman
stated that ?Upon closing of the revised agreement Pediment will own both of
its main gold assets in western Mexico,
and be able to continue work on each of them in the most efficient way for its
shareholders.?
Gary
has also cut expenses down to a minimum at this point in order to conserve
their cash which now stand around the $17 million dollar level. The company is
well poised to weather the storm and decide the best course of action of
putting La Colorado
back into production. I?m sure we will be hearing more about the developments
at La Colorado
in the near future.
PEZ should also be close to releasing their
updated 43-101 resource on the San Antonio gold
project in Baja Mexico.
For now we wait until more news is released.
Pediment
is a STRONG BUY at current levels.?
Pediment remains in the
top spot on Greg?s Top 10 list of companies.
We have seen Pediment?s share price
decline along with the rest of the junior mining sector, largely due to current
global financial crisis, but also from factors such as heavy tax-loss selling.
What we believe sets Pediment apart from many other junior exploration
companies is the fact that Pediment?s fundamentals remain relatively strong
with an established gold resource in the ground and approximately $17 million
cash in the bank.
Please call us at 604-682-4418
should you have any questions, or would like more information about the
company. You can also visit us at www.pedimentexploration.com .
Neither
Greg McCoach nor his publication, ?The Mining Speculator? are under contract to
or otherwise affiliated with Pediment; Pediment has not paid any compensation
to Greg McCoach or, ?The Mining Speculator? for the above-noted report. The
views expressed by Greg McCoach in ?The Mining Speculator? and elsewhere are
his independent views, and may not be aligned with the views of Pediment. For
more information on Greg McCoach, his newsletter and how to subscribe, please
see: www.miningspeculator.com. Investors are encouraged to contact an
independent registered investment dealer if they require any assistance with
their investment decisions.
Thank
you,
Michael
Rapsch
Michael Rapsch
Investor Relations
(TSX-V:
PEZ, Frankfurt: P5E)
#720 - 789 West Pender Street
Vancouver,
B.C., V6C 1H2
P: 604-682-4418
F: 604-669-0384
Website: www.pedimentexploration.com