thoughts anyone on pem's new offer, page-7

The CBH takeover of PEM is dead there's no way the Chinese offer wont be accepted.

CBH are left standing alone in an ugly Zinc market where their production cash costs at their only operating mine at Endeavour exceed the Zinc price.

They haven't the cash to develop Panorama. Rasp isn't a goer without merging with PEM. CBH will probably have no option but to sell Rasp to PEM as they will need the cash and PEM with Chinese backing will be able to find the cash. The Ship loader at Newcastle will also be sold.

Unless Zinc/Lead prices stage a miraculous recovery CBH cash will used supporting the negative cash flow mining at Endeavour which will eventually be forced into care & maintennance. Once this happens it will be highly unlikely the mine will be reopened.

Too bad as a combined PEM & CBH was a reasonable operation.