Tricky stuff, but I think this is an overreaction to debt,...

Tricky stuff, but I think this is an overreaction to debt, losses, and declining metals prices?

PEM cap ~110, cash ~85, debt ~28
CBH cap ~190m cash ~130, debt ~187


Resources:
PEM:

Rsv 11mt@8% Zn - Broken hill?
Rsc 260koz@25gt Au - ?
Rsc [email protected]% Cu, 0.05% Co, 9gt Ag - Mt Oxide
Rsc [email protected]% Zn, 4% Pb, 44gt Ag: Flying Doctor

CBH:
Rsv 11mt@9% Zn, 4% Pb, 70gt Ag - Endeavour
Rsc [email protected] Au, 4.2% Zn, 3.1% Pb, 0.2% Cu - Hera
Rsc [email protected]% Zn, 1.2% Cu, 15gt Ag: Panorama
Rsc [email protected]% Pb, 0.6% Zn, 81gt Ag: Sorby Hills
Rsc 30% 236mt@53% Fe, 10.3% Si, 11% LOI: Constance Range

Am I missing something here?