forward p/e's seem really low - ideas?

Hello All,

I've been holding onto PEM shares for a little over 6 months, over this period along with quite a few of the commodity stocks - this has been a bit of a 'interesting' ride.

When I bought PEM, I looked into the high level fundementals that both the current and forward P/Es were really low (3-4) compared to other mining stocks.

I've google'd and trawled the forums to try and find an answer - without luck and I'm hoping someone might be able to shead some light on when the sp will pick up to more normal industry PE levels.

Any ideas appreaciated.

Hamish.