Debt that is approx 50% of market cap could be considered a bit of a concern.
If PEM has spent the money last year to grow output, and this year is a year of consolidation, where CAPEX spend is significantly reduced, then it is probably OK, as the extra revenue this year will be used to reduce the net debt number.
If not, the the company bal sheet will come under stress.
HT1
Debt that is approx 50% of market cap could be considered a bit...
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