PAN ANDEAN RESOURCES - EL DORADO.......HUGE FIND

Petrolex and the old boy [80 year old] were forced to sell all their shares [final ones gone today] by Citibank .
Citibank had the shares as collateral for their real estate business . There is a severe credit crunch in Bolivia [and in fact South America generally] and this has made their banks call in the loans .
Hence the selling of PRE at any cost !
This probably sums up why PRE got Petrolex so cheaply to start with !?
And also proves that banks are b...ards where ever you are !!
Anyway , the technical position [with the stock over hang gone] is now looking very strong !