I think, Bay Street won this battle.

It looks like company does need money, but was scared with markets on January 2008.

The situation looked like there was no possibility to find any money for exploration on thumbling market. In this situation management took an opportunity to get more less nice offere for PP.

I understand, if you are not in the financials at the top level you can not predict accurate enough the future markets' moves, but you need money for explorations.

I don't like this deal, but it was inavitable.