Ann: Second Supplementary Target's Statement, page-3

It seems most posters here are of the one view - that $1.84 is too cheap for the assets and potential that Pan has. But unless a better offer is received before GRAM's deadline then the question must be asked - if there is no better offer then is this, in fact, what the company is worth?
I, again like many other posters, have lost confidence in the current Board and, now in my mid-70's don't have patience to see how Frieda River might develop.
So it looks like a case of selling and moving on as EL posted earlier.
Having attended a couple of the company AGM's in prior years I was always taken by the efforts the
company had made with training and organising facilities (schooling, commercial farming, various positions in the company workforce etc. etc.) for the local Lao population. I don't know that the same concern will be extended by new management.

MM