I am expecting that the 200M shares will ultimately be...

I am expecting that the 200M shares will ultimately be distributed to shareholders of PEM through whatever means allow such a transaction. This is implicit in the announcemnt released. Whilst I hate seeing the share price where it is and am not overly happy with previous actions of management I fail to understand why the market has reacted the way it did. Spinning the asset off not only allows them to continue to prove up resource with alternative cash supplies it also drops the asset on a clean balance sheet which in time could be taken out by another predator. With most of my investment sunk and now trading below NTA I will continue to hold.