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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


Premier African Minerals Share Chat (PREM)



Share Price: 0.07Bid: 0.06Ask: 0.08Change: -0.005 (-6.67%)Faller - Premier Afr
Spread: 0.02Spread as %: 33.33%Open: 0.075High: 0.075Low: 0.07Yesterday’s Close: 0.075


Share Discussion for Premier African Minerals




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glosman
Posts: 1,363
Opinion:No Opinion
Price:0.09
RE: Circum
23 May '19
What about the $400k placing, Premier intends to use the proceeds of the Placing to assist with the funding of the ongoing due diligence on the Honey Badger Resources Limited ("HBR") acquisition, deal costs for the HBR and KME Plant (Proprietary) Limited transaction as announced (see RNS dated 14 February 2019) and general working capital necessary for the Group.
the HBR and KME deals did not happen so why cant the funds put aside for those deals be used to start zulu and hope the $6 million comes in soon as i am sure with that and Zulu drilling the share price will be much higher
 
glosman
Posts: 1,363
Opinion:No Opinion
Price:0.09
RE: Circum
23 May '19
the shares have already bee created and are already part of the 8,038,506,729 shares of Prem.GR would not been handing any control to shareholders ,it was a placing that never finalised as KME stalled,so PREM still hold these shares,so why not offer to existing shareholders and the BOD just to raise money and start drilling ZULU
Smilemore
Posts: 1,553
Opinion:No Opinion
Price:0.09
RE: Circum
23 May '19
Snowking good suggestion. This would get it moving so I can suggest that. However, the KME shares are at a higher SP and costs have gone up so it would be much more than 400k. At this SP it is making things tricky to say the least. I feel GR and KME are wanting that money in to make all this all into place. Unless that money can be used for Zulu in part which I think we need to ask.

Possibly snowking I could just ask the question about funding for Zulu and give the options our forward by myself, You and MTL/kelladee etc.... And see what GE says. This may give us a clearer picture.
Snowking
Posts: 376
Premium Chat Member
Opinion:No Opinion
Price:0.09
RE: Circum
23 May '19
Are there enough shareholders who would put up £10000 each for a private placing , if there were 40 of us , that could raise the money to get this moving , but this would mean some dilution , but just as was already thought to happen .
Jeremiah99
Posts: 5,441
Opinion:No Opinion
Price:0.09
RE: Circum
23 May '19
I repeat, I'm finding the fact that we have twice raised cash for Zulu yet 18 months later drills have yet to turn, deeply suspicious. Just a few good drill results there would have multibagged our s/p, allowing further raises at higher prices. Perhaps the resource there is nowhere near as good as claimed, or maybe it is but we pond life PIs will be shoved to one side in some dodgy mates rate deal?
Smilemore
Posts: 1,553
Opinion:No Opinion
Price:0.09
RE: Circum
23 May '19
Thank you glosman. I don't think GR will go for it. This would mean control would not be in his hands but ours (if I am reading it correctly) as we would hold a percentage of the project. Also, due to the KME transaction not taking place costs would have risen so this would be a big ask for a placing or for Shareholders. I feel GR is stuck. Share price is too low for KME to sell shares and it's too low for a placing. This is probably why KME are stalling. This is why I can't see any other alternative but Circum sale. We cannot be made to have a big placing for it

As this is such an important point and there was some need for editing the email 2, please can we decide on that final question.

As you can see I am trying to ascertain a way in which Zulu can be funded that isn't shareholders. See below the Q) that I felt could replace it. Once decided we can send the email.
glosman
Posts: 1,363
Opinion:No Opinion
Price:0.09
RE: Circum
23 May '19
212,413,793 shares at .145p have already been created to privide $400k for drilling Zulu.Why not offer these shares to existing shareholders and suggest that all members of staff also purchase so that there is plenty of incentive to get this moving.I am sure once Zulu start to progress the share price should rise and hopefully the $6 million will come soon,giving a further boost.
Smilemore
Posts: 1,553
Opinion:No Opinion
Price:0.09
RE: Circum
22 May '19
Thanks MTL for the reply. I agree but Zulu is the big asset. How will we fund and develop that within those 5 months? RHA money will be for RHA unless there is a way of paying them for work that includes all work on assets. Hmmm.

Maybe that is the question not about Circum. See below for a replacement question that is not the circum one.

Q) Shareholders are concerned about a placing for Zulu and feel that due to the delay and spending on Circum, ARCM and TCT, should not have to foot the bill again with any placings. Please can you provide detail on how you will prevent this. This is what caused the circum idea or can monies from the Zim Government be used to fund KME activities away from RHA?Your thoughts and guidance as to the plan would be appreciated.
Moneytolose
Posts: 1,132
Opinion:No Opinion
Price:0.09
Circum
22 May '19
I think we need to see if we can get RHA giving us some revenue in the next 5 months and then we can make a call on Circum and how RHA is progressing hence why its key to get RHA monies in so we can start producing and not hit another rainy season




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