can anyone tell me why, page-12

With reference to the sale to CAP.
Its not the first time PEM has not appreciated or been able to extract value from its resources
I think Perilya sold the Daisy Milano mine to the then IPO SLR with a cap of 30 M for about $14M now SLR is worth around $350M 4 years later after successfully turning Daisy Milano into a profitable narrow vein gold mine

probably the reason PEM seems so undervalued as the managment seem to be able snatch defeat out of the jaws of victory.
Be interesting to how good the assets turn out to be in the Dominican republic.