Yep I wouldnt even call it an offer. What I think it does do is...

Yep I wouldnt even call it an offer. What I think it does do is get PEM thinking, so from cbh holders point of view that is interesting. Nystar has come in for talks on CBH overtures imo, change of tack from them and it serves the intent of CBH well........sow the seeds and lets see who shakes who up. Its now set a game in motion where CBH have a semi interested party and a Chinese backed PEM who would love to tie up the Line Of Lode. The key point for us to hang on to is that even after strong talks with Pem and a deal nearly done...CBH reverse the T/O and have the nuts to have a crack at PEM.....CBH want the whole kit and kaboodle, nothing less. This leaves PEM with one thought only, they need to kill this sucker(CBH) once and for all, so I would be looking at a PEM offer down the track that is more 'appealing' to management = saves face for CBH and gives shareholders a run for their money. So, for me this is the start of a push to be swallowed into the PEM/Chinese coy. Cheers