I think the Q3 results will be very interesting because management indicated/observed significantly lower cash costs already end of Q2 and beginning Q3 (mentioned when PEM published half year report). I´m still a bit confused about the communication because it would have been clearly cheaper to make the offer when the sp was down at ~10c, in addition I´m now surprised by the statement on the lower cash costs because that makes a turn-around more probable hence stock more expensive...
Anyway Q3 results should be much better than Q2 but will the sp react at all?
PEM Price at posting:
31.5¢ Sentiment: LT Buy Disclosure: Held