select buyers and low demandhit me with a stick, I guess the market doesn't like the swap deal, don't sure why, it makes perfect sense to me for long term survival and reducing debt and debt service costs.
don't forget the insiders still control 49% of PMT and once most of the debt is gone, they could easily make a play for the whole companty for peanuts?
with only 50 million shares outstand, and insiders own roughy 25 million and they could easily buy 25 million on a takeover and get hundreds of millions of reserves on the cheap.
so bottomline
Money makes money or more explicitly