exciting time ahead, page-25

zoose - I agree with you.

Have you noticed most people opting for CBH/PEM merger on HC are not PEM holders. As such their interest is to paint a black picture about PEM's future and convince us PEM shareholders that there is only one way for PEM to survive - merger with CBH

Why? - CBH's cash position has deteriorated from A$66 million at December 2, 2008, to A$56 million at December 31, 2008. CBH itself may be required to raise additional capital in the future. And the merger with PEM is the attempt to secure its survival.

Those posters rise the issues about:
shares dilusion and quick spend of $45mill by PEM management

Let’s look at the facts;

As to the great shares dilution - not exactly true: if 195mill shares at 23c were issued to the Chinese, they would held them (not tradeable). Otherwise they would loose 51% position in PEM.

As to the $45mill cash injection spent quickly by PEM’s irresponsible management - not exactly true: – the new board would include Chinese representatives. They would not allow to deteriorate PEM's financial position by the irresponsible governance

Conclusion - PEM has a secured future

Article worth to read
“More junior miners to go under this year “

http://news.smh.com.au/business/more-junior-miners-to-go-under-this-year-20090109-7dkl.html
NJ