Boy do you have no idea. You should get over your bitterness at PEM succeeding over CBH
No one whatever their race, pays that much money for a mine simply to close it - there is just nothing in that for them, particularly when they are also seeking an off-take agreement that can't even start before 2012 !!!!
It will simply be business as usual post transaction as opposed to CBH who said they WOULD have to do mass sackings as they simply can't afford to operate. A bit different with a $2 billion company irrespective of their origin being Chinese.
Best thing that could have happened for PEM, its shareholders and employees. I am far more concerned with my stake in CBH, which will now most likely die a reasonably quick death. No one will touch them with a barge pole given our debt and crap operations.
PEM Price at posting:
16.3¢ Sentiment: None Disclosure: Not Held
