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But im not about to sell yet i still have hope .
You didnt sell because like the rest of us you thought it was going to go higher if we all could see in to the future we would all be millionaires simple,
Can't believe I didn't sell when this was 1p
Come on George, get these placings out of the way.
Acker
🖕
It has to come good at some point. Canmax will have due diligence on things so the licence wont be an issue or they would have picked up on that.
Whats with the spread and SP shown here?
From raa and has......
'Too much risk' and 'positive'
ðŸ¤
acker i think we are keeping it real, the pipes were on site over a week ago, a day or 2 at most to install them and then get things up an running with a bit of tweaking should have meant an update by today at the latest. seems obvious to me that the new pipes have raised new issues. still no news on the sorters or confirmation that the sensors and control system issues have been sorted. still no news on an export licence they've never had despite promising shipment some 14 months ago. its a ****sh0w at best. snowking seems strangely quiet after his recent rampfest, which sadly for him came to nothing. silence from gr is always deafening to the tune of bad news, it's coming, just a matter of are you willing to hold and hope it comes good or get out and run to the hills with whatever cash you have left in. not a cat in hells chance i'd be looking to average down right now, far too much risk.
I think GR will issue RNS this week and let’s all hope it’s a positive one for a change as it seems he is running out of excuses to blame everyone else but himself.
But in reality Having asset you can’t monetise yet with cash flow problems is a serious matter for any company survival. Let’s accept this criticism and it’s a fact.
Let’s see this week how it progresses as I hold big numbers here and still feel Prem has come longways and so many people and the country reputation at stake if Prem fails is here ,then a well known big local business man with very successful career in the country is one of the directors on board with another from Canmax overseeing things too.
IMV …The plant itself is huge and any issues should be rectified as many experts on site there to sort it out.
We still have a good amount of cash which was raised recently and a local bank loan of $300k too.
On balance I feel more positive and can see the end of this saga of uncertainty .
Holding strong
GL
Get a grip guys.
Keep it real .
Acker
Jag, if PREM become insolvent then it's not a case of taking it private, it's a firesale of the assets to cover the debts and pay the liquidators, anything that's left after that will get divided up. Shareholders will see pretty much nothing
Raay - even in my most pessimistic, I don’t think GR is taking this private. The 4-5 big shareholders who keep George in his position would finally lose patience and vote him out. So then the question is how much is rha, circum and half of mature worth? At least 10-15 million so the bottom range of prem is .05. At least not 0.00. And I’m not including Zulu cause that would be taken over by Canmax in lieu of debt
.
RickyK, the value of the stuff in the ground is pretty much irrelevant at this stage. PREM currently have a debt of circa $47 million to Canmax which by the end of June will increase to $54 million and accrue interest at 12% pa. Canmax like long term shareholders have been extremely patient and forgiving of GR, however that patience has a finite limit which I can see with shareholders is fast approaching the limit and I imagine that Canmax are pretty much at the end of their limit. If Zulu cannot produce SC6 at 4k tonnes per month by the end of June then quite frankly Zulu as a project is done for and PREM as a company will struggle to survive, GR will need to raise significant funding to keep the lights on and its unlikely he'll get the support he needs with the remaining assets he has. Canmax will take Zulu in lieu of the debts owed and bring in their own people. GR will then rely on bringing RHA back into production and the forever dangling Circum carrot before eventually calling it a day and winding up the company, leaving shareholders penniless
RickyK.....current valuation of SC6 in ground 1.5 billion, current cost to extract it probably over 1.5 billion.
KOD will have problems I can assure you now
George is on track then! he's raised over 100 million over the past 8 years, and not only has not made any profit, he's made zero revenue!
Amazon never made a profit in its first 8 years and managed to raise more than $900 million during those years
Mmmh - sure this company has a value & a share price.. And if they sold their assets even no wthere would be an uplift in SP !
Mrbrian
You are wrong
Which company has been valued without revenues and profits!!
Name them please but don’t quote stockbrokers bullsh@ts and analysis of expectations.
You only put value on any company if they have produced revenues and profits.
Please stop your fanciful drivel.
If a bid was put in tomorrow, the NRS would surely be referenced,. Current valuation of SC6 in the ground valued at around 1.5 billion?
Fields have sold for 400m +, so I don't buy into revenues needed for a buy out.
Many a company gets a value without revenue or profit - brand/potential etc
You can’t value any company without revenues and profits.
We can speculate what we like!! Lol
Not sure if you are familiar with how a contract works, but in short, no. They won't seize the asset.