after this fridays zhongjin meeting, pem sp...

...to go which way? Shareholder's equity will be diluted heavily, but strong capital injection will power PEM in weak global market conditions. Any comments?


"At 31 December 2008, the Company held cash, deposits and investments totalling $66.3 million

-free cash of $19.0 million, inclusive of $10.0 million deposit received from Zhongjin Lingnan
(30 September 2008: $22.3 million; 31 October 2008: $10.8 million);
-secured cash deposits of $24.7 million supporting performance bonds
-commercial paper of $17.0 million
-other investments of $5.6 million

So they now have $19Mill free cash(less what has been spent through Jan)
+ if Zhongjin deal goes through add another $35 mill
= roughly $50+ mill to ride the storm."
c/- zoose. many thanx!