I feel reasonably confident that there could have been another (1 or more) offer going back and forth and that PEM would have gone with the best one for a multitude of reasons none of us would have been privy to, if there were other suitors. Given the number of Confidential Agreements outstanding, I wouldn't be surprised if they contacted Del or Del contacted them to see if some kind of financing arrangement could be agreed to. It seems to me that such a prudent practice would have likely been implemented. It is just human nature.
If Logan were to fail to finance, persuant to the agreement, then wouldn't the option deal get canceled? I suspect so. As for the possibilities you mentioned, such as a stall tactic, or a maneuver? I wish I knew for sure. Not knowing, we are left to our own devices, I guess.
I suspect once the deal closes, that PEM will be able to open up a bit about this arrangement. For now, I am relieved. Like 90% (+) of the explorers and juniors, PEM is very short on finances. They say 70% might not survive in the coming months. Our situation will likely improve upon closing of the JV deal. Most others will only worsen over the coming months or until the gold market and mining sector blasts off upwards, whenever that will be. Doing a PP at 3.5 cents would have been unforgivable, if it could have been done-approved at all. The terms that would have had to have been offered would have been outrageously generous and shareholders would have taken a huge beating going down that path. Something is better than nothing. Time to plan what to drill this year. I am looking forward to an active year, decent assay results, a better gold market, a rising mining sector, and a hoped for substantial PEM share price rise as PEM's drilling results get reported out this Fall, and in the months thereafter.
A lot of this is just my opinion GE. I know I could be wrong. I hope some of this is worthy of being considered as "food for thought."
Best regards.
