you guys have no idea, page-15

Strange thing about herd mentality is that PEM's cash backing at the moment is around $0.33 per share and its asset backing is up somewhere in the vicinity of $0.70 per share - so theorectically and realistically its very cheap at the moment, but emotion often outweighs the head and logic with short term share prices. No real logic to current price - could probably simply be the case that as its dropped out of the ASX200 various funds will off-load the stock as it does not fit their investment parameters. Who knows, I never understood why certain shares went way above their true book value and some way below but that's markets for you.