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Joey,
(in exchange for) means the purchaser would receive for the return of 249 shares, the cash and post consolidation share options listed, does it not?
Sounds like a lawyer wrote his deal. What does arms length translate to in reality. I thought it would mean someone not directly connected to the company, but who knows.
ge
The question is, Who/What is PEM USA? If the deal is approved, the buyer owns 249 shares of PEM USA. IF it is not approved they return them and own no shares of either company but pay another $400,000 for options to buy PEM shares at 5 cents (.5 cents compared to pre consolidation). They would have to pay $another $210,000 to exercise those options.
The $400,000 would be paid by PEM to the purchaser along with the options upon the return of the 249 shares of PEM USA if the deal is not approved.
That's how I read it!
Marwal,
Do you believe Logan will be able to finance this deal? What I have seen of LGR does not impress me.
Is there a possibility that this was just a maneuver to facilitate some other deal or a delay tactic?
GE
To post or not to post, that is the question
Joey,
The greatest fault I find with management of most companies is lack of communication with shareholders. We should never have to guess what is going on with the company.
We should be informed of what they intend to do and why. Then be given progress reports regularly. When something doesn't happen as planned we should be informed why and what they plan to do about it.
Confidentiality is required in some cases. Most of the time, they just don't think we need to know.
Had PEM management kept shareholders and potential investors informed, the share price would never have fallen to these levels.
I invested in PEM based on the potential. I still see great potential. It appears we need assistance in realizing that potential.
If you wish to post it to the board, I have no objection.
A while ago from someone on this BB that I have a great deal of respect for his/her opinion.
Del and Big Al stating they have kept shareholders aware of the McQuire situation is greatly mistaken as posters on this and Big Al's website have stated the locations that shareholders are able to get daily updates of the situation.
I know that until there is an update to the D5-32-12np which controls access to the area that there is a delay in the drilling, BUT the company could still release an update as to the number of drills planned, total depth they feel could be drilled with current fund situation and whether more funding is planned before the completion of drilling.
Sorry, but no shares traded today on a large holding causes the frustration.....
Read more at http://www.stockhouse.com/bullboards/messagedetail.aspx?p=0&m=31651259&l=0&r=0&s=pem&t=LIST#91eAewhwfBLWIUXr.99
Marwal,
This post is from another board:
"Some have known there was interested parties in contact with PEM management. Del has closed the first step toward a partnership that will benefit PEM shareholders. This deal gives Osisko access to the inside track for future participation on the OSZ.
My opinion is that Del has cemented relations with a suitor, yet at the same time secured financing for infill driling to increase ounces. This should allow the Share price to increase somewhat before the next step, whether it be another PP or a JV.
With time to drill before winter, and receive assay results, I would expect next spring we will see a new phase of drilling due to funding or JV participation."
This may allow the SP to rise some and provide a higher price for the next fundraising which we all know will be necessary. Sounds like Del has a plan regardless of what some think.
ge