great deal for pem. will this rocket now, page-7

PEM's anouncement indicted that the placement will "secure the future of Perilya as an independent company" and that Zhongjin will be a "strategic partner."

Surely imo that is playing with words as Zhongjin will obtain 50.1% of PEM. On my understanding that means Zhongjin CONTROL the company, Zhongjin have a MAJORITY OWNERSHIP of PEM.

So on my understanding that means PEM is NOT an "independent company."

It looks to me that this is what is called being taken over via a share placement to astute Chinese investors at the bottom of the market.