I do agree with your analysis if in fact it is a take over by the major shareholder , and I must say it does appear more and more likely that it is. I also believed that Legally they could only own up to 52% in Perilya ( FIRB Approval ) which was later adjusted to 53% when a further placement was made and Zhongtil took up the surplus not taken up by other shareholders, however it is still up to the Shareholders to agree to total ownership by the Chinese or anybody else, if we do not vote against it, this Company will be stolen by the Chinese or whoever.
PEM Price at posting:
22.0¢ Sentiment: ST Buy Disclosure: Held