PEA has $11 million cash on hands:From PEA 2010 annual financial:
As of September 30, 2010, the Company had cash and cash equivalents of$1,949,055, and its working capital was positive at $2,629,009. Total:$4.58 million dollars, plus $6.5 million it received on Dec 20, 2010. Now, PEA has $11 million dollars cash on hands, or
.22/share.
Now, I can understand why the company is not anxious to do financing.You don't see many juniors have so much cash on hands, do you?