cash cow

Pla will be an instant cash cow for jpl after the merge that will enable it to finance development of the other mines. It s a company making deal for jpl. Macquiree conversed part of their debt to equity i don,t think they would want a merger conversion ratio lesser than 1-1. According the full year report macquiree loan 10m to two subsidaries of pla after smorkeyhill shutdown wonder what that loan for. Loan another 12.5m for the maintain of the mine.with the process plant on loan to jbl why they need that much to maintain the idle mine..? Shouldn't the income from processing for jbl enough to cover the maintain of the mine. There are about 30+m pla loan out to subsidaries and current asset 94m not including mines. So anything less than 1-1 conversion ratio would be robbing pla shareholders of their asset outright