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TSX Lithium explorer International Lithium Corp prepares to drill at Raleigh Lake
Exclusive: Hardman & Co Investor Forum - Severn Trent, Calculus Capital, Volta Finance, Residential
Latest Share Chat



Premier African Minerals Share Chat (PREM)



Share Price: 0.07Bid: 0.06Ask: 0.08Change: 0.00 (0.00%)No Movement on Premier Afr
Spread: 0.02Spread as %: 33.33%Open: 0.07High: 0.07Low: 0.07Yesterday’s Close: 0.07


Share Discussion for Premier African Minerals




View all PREM Messages

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Alchemyex
Posts: 278
Opinion:No Opinion
Price:0.085
RE: So when....
27 May '19
With respect I’m 99.9% certain Gr does not read the lse board, for example, David Lenigas ,at one stage was involved with over 50 companies on Aim:
Can you just Imagine all the tripe that would have to be read ?
Prem over the years have been diluted to over 8 billion shares, I’d imagine, conglomeration of all posters on lse have less than 1billion.... Any way can’t wait to his answer to the Proposal:
 
Thom_1987
Posts: 3,528
Opinion:No Opinion
Price:0.085
RE: So when....
27 May '19
RHA is a flipping stinker... the government still haven’t coughed the money up yet...
eddie666
Posts: 197
Opinion:No Opinion
Price:0.085
RE: So when....
27 May '19
completely agree with chip-on all points. now,come on derby!!!!
steward1
Posts: 1,120
Opinion:No Opinion
Price:0.085
RE: So when....
27 May '19
Give both GR (regarding the plan for Zulu) and the Zim govt (cash for RHA) until the middle of June!
Smilemore
Posts: 1,553
Opinion:No Opinion
Price:0.085
RE: So when....
27 May '19
Thanks stew. My posts are to create debate so they will generally sit in the middle ground to allow fair debate on both sides.

I agree with keeping up the pressure. I'm not advocating a softly softly approach what I am saying is whether we set deadlines in this or the next email.

I can reword accordingly on both views and I don't mind which. I have already included the RHA message in there but I needs some reworking to make it a focus.

Thanks for your continued efforts in sorting this. Just now need to decide on this email by end of the day. If we can get this sorted by 6pm ish then I can post email and reword to get it done by 9pm. That okay MTL?
steward1
Posts: 1,120
Opinion:No Opinion
Price:0.085
RE: So when....
27 May '19
Smiley - I'm 100% certain that GR will be following this board so it seems a bit odd that we're debating whether a softly, softly approach is appropriate. The cat's already out the bag - GR will be fully aware that there are a lot of folk on here who think he needs to go and to go soon, and if you've been here long enough, you've probably held that view for a long time. The fact that he indicated a long time ago that he was stepping aside but hasn't yet done so suggests to me that he either doesn't intend to anytime soon or that he can't find a suitable successor... the latter is unlikely unless he hasn't been looking hard enough. So I'm afraid that I agree with others that we need to keep up the pressure. I don't think that he needs to be threatened in the email with an EGM but we need to be asking him to confirm what action he has taken and what his plan is for the future management in light of his previous comments about stepping aside.
Smilemore
Posts: 1,553
Opinion:No Opinion
Price:0.085
RE: So when....
27 May '19
Thanks Phil. Just trying to pick apart what you would like from this email and next.

I'm up for small steps in the next email (hence the sale of ARCM shares and all non core assets + KME to sell their shares to drill Zulu) then start looking at other options.

I know it wasn't much of a deadline but look how quickly GR has responded to our requests. He knows we are up for this and up for it in a way like no other. He also knows that people may have been diluted but many have topped up and hold sizeable positions. GR has hit one deadline with our first email now it may be time to set hard ones on the money. It may or may not work but again all we can do is try in this new era of shareholders' power.

We can set the probing questions at that point as this will highlight the failings. Placings, asset value creation and no stepping down achieved. Much to discuss. But I do feel that is for Email 4.
Phillip1976
Posts: 324
Opinion:Weak Buy
Price:0.085
RE: So when....
27 May '19
Setting deadlines isn’t going to work for GR and it only lets shareholders done when these aren’t fulfilled and rocks the market. Confidence is how this market works and we have none.

As I said small steps need to be made. The KME deal was a fiasco and came out of left field, same as the Honeybadger deal and the renaming/breaking up of the company.

What we need is a clear indication of what the BoD is thinking and do they actually have a plan? A bit of clarity is needed. Say when the £6m does arrive what will it be spent on. I know he has touched on it but we would like to know exactly what. As shareholders I don’t think that’s an unreasonable request.

Also is the £6m an investment in RHA or part of the £20m that the Govt owes Prem?

If RHA does begin to produce what are we expecting p/m. I understand that he has spoken about a different shaft, how long will that take and how much? Remember 18 months ago Prem was diluted to further fund RHA for the foreseeable and it was mothballed. Where did this money go??

KME, as stated, where is the £400k? There has been too much needless dilution of the company, through deals with Darwin, purchases of TCT, which was meant to give shareholder value and didn’t, further purchases of Circum, meant to give shareholder value and didn’t and also the purchase of ARC shareholders, see above.

I agree that GR has to go and he has spoken on several occasions about stepping down and has failed to do so, can it be asked why?

An EGM should’ve been called 2 years ago, I think it is to late tbh. This share, to LTH, is worth buttons and it is only ourselves to blame as we should’ve took GR to task long before now
Smilemore
Posts: 1,553
Opinion:No Opinion
Price:0.085
RE: So when....
27 May '19
Thanks chip.

This email or next? Next email could include deadlines and actio if not met. That's the best business way is my feeling.

We need a consensus view on this with or without NAPOM's group. I think he still has me filtered so that tells you all you need to know. Surely they can see we are trying to force change at the top and this needs full support.

With or without them I do think we could all get together and have enough to get this through. 7 billion shares left out there not including NAPOM's group.
chippyjo
Posts: 3,636
Opinion:No Opinion
Price:0.085
RE: So when....
27 May '19
Hard stance and you somehow need to get the Nap crew on board.
Nap, are you ready to set a deadline for an egm? Even you must be thinking it’s gone on long enough??
Smilemore
Posts: 1,553
Opinion:No Opinion
Price:0.085
RE: So when....
27 May '19
Chip, stew, Spaceman. All your posts are interlinked so I will respond in a group.

Chip. I get your scepticism with me. Look at my positing history. It change the day we were told about KME and Zulu not drilling. Yes there has been major failings previously but I was holding my tongue giving one last shot. That failed thus I have started this effort. Effort it has been!

So GR's position. Chip hit the nail on the head. We need to all debate a date where funds have to have entered into the company for BOTH assets or we will seek an EGM. Simple as that. We have to effectively become the BOD in emails now shifting direction.

Now, the question is, if he agrees to ARCM shares for a sale. Does that date shift or stay.

Let's debate the dates and maybe I can insert them into he email to give it some more robustness. Or that can come in the next email and we can all debate how he responds to our request.

So

- set deadlines in this email or next (my feeling is next because the focus should be about ZULU drilling not GR's position in this email)
- mention EGM in this email or next (again feeling is next as this is only the second email)
- do our dates shift and we lessen our position if he agrees to our proposal or maintain the hard stance. Either I'm happy with form my side.
chippyjo
Posts: 3,636
Opinion:No Opinion
Price:0.085
RE: So when....
27 May '19
RHA money in six weeks or an egm to remove Roach.
How about that for a fair ultimation.
As for Circum, if RHA turns out to be a duster and Zulu a dry hole, shareholders have one last spin of the dice with Circum...
There reason I’m wary of smile is because his agenda has changed from one of propping up the sentiment on hot air followed by we need to sell ARCm and possibly Circum. That smells like a company stooge role in my eyes.
The BOd know they would be crucified If they come out with that idea after the dilution suffered to get them as well as the TCt fiasco (for shareholders that is).
spaceman07
Posts: 4,495
Opinion:No Opinion
Price:0.085
RE: So when....
27 May '19
Just to clarify smilemore I'm not suggesting a placing, we need Zulu progressing now and the sp is not in a good place. I was referring to previous placings where the cash has been squandered, all the while our prize asset requires funding. A certain club in the Premier league have had funding for players more than most, though still unable to qualify for the champions league and a dismal league position. Questions where asked and changes made at the top.
steward1
Posts: 1,120
Opinion:No Opinion
Price:0.085
RE: So when....
27 May '19
Hey Smiley - sorry, I've not been able to keep up to date so just reading the last few posts.

I have lots of sympathy with Jessel's view and I reckon that the last couple of responses from GR have been because he is aware of the threat of an EGM. Whilst I believe that he reads these boards (in company time too and at our expense?), I think that it is important for us to keep raising the question of when he is going to step aside and appoint a new CEO.Off the top of my head, I think he first indicated that he would over 18 months' ago! I don't think that we can leave him any space to distract usfrom that question or string us along!
Smilemore
Posts: 1,553
Opinion:No Opinion
Price:0.085
RE: So when....
27 May '19
Thanks for your comments Phil and Spaceman.

My feeling is we need a date that as Shareholders we will be happy to receive funds by. We cannot wait forever. Nor can we wait forever for Circum.

Spaceman we need $5 million to get Circum to DFS. We will get shafted if we seek external funding. RHA and or Circum would be the preferred choice. I think we can't even suggest a placing as this is the last resort.
Charlie1984
Posts: 4,860
Opinion:No Opinion
Price:0.085
RE: So when....
27 May '19
Phillip, this is the hope, however the company fails to share deadlines and milestones with the PIs which leaves everyone second guessing.
They have recently raised and then taken 4/5 months to inform PIs that the shares raised to support drilling at Zulu weren't handed over to KME, the deal is no longer agreed on original terms AND the icing on the cake there has been no drilling AT ALL at Zulu. Not acceptable!
So why in the perfect world PREM would receive the funds from the Zimbabwe government in the next fortnight this in its self has been over 100 days so PIs are starting to worry (and rightly so) about further dilution or 400m+ shares raise at 0.014p getting sold below the current MC for ongoing running costs.
Again driving down the SP and being worth less than what we would currently get for the ARCM share sale.
Phillip1976
Posts: 324
Opinion:Weak Buy
Price:0.085
So when....
27 May '19
Is the £6m expected? Clarification on that is key as we are then in a set time frame.

The govt is expecting production and shipping within 100 days, so basically 4 months, will the BoD be able to deliver this? We have seen that the bird cannot even complete our accounts on time so we can only hope they will be able to deliver this.

If they fail to deliver, what are the penalties?

Personally I think we will have news on the money in the next fortnight as this will make shipping by October.

We need to be taking one step at a time and the first step is RHA. Once production on that has begun then we can focus on Zulu.

As for Circum, the deal to purchase more shares has sent this share tumbling and we have never recovered. This really is the jam tomorrow in this share. We have been waiting years for this to be sold publicly but we are no further along.




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