There are 2 issues here. Why does the market price KZL...

There are 2 issues here. Why does the market price KZL relatively higher than PEM, and why is PEM priced on such a low p/e?
The first issue, I think is simple - KZL is perceived to have better management and more blue sky.
I have no idea bout the 2nd part. However one observation from looking at the trades recently is that tye selling is sophisticated and looks like computerised selling. Could they have fallen out with an insto? There's about 6 major holders, so plenty of scope.
You make so many if's Orland, let me make one. What if an insto disagrees about the way management wants to spend the cash? Pure speculation on my part.
If (OK one more if) I held PEM I would stay there. If they weaken any further relative to the overall market I will buy.