PEM's main BH mine has only 6 years left, they have very strong cash flow currently, low dividends and been selling of assets to accumulate cash at a huge rate.
they obviously have acquisitions in mind! they are worth $735m CBH is worth $396m but has a very large suite of long term projects and will be producing at >250,000t Zn equivalent by 2009.
PEM would have ~$200m (or half the cost of CBH) in cash buy now CBH can totally fund all expansion projects with no further borrowing.
takeover target
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