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It helps we have experienced people on the board of directors of running a mine.
PREM will have far better direction with this new management team in place.
There will still be delays (it's Zimbabwe) but hopefully this new team will make things more seamless to minimise delays and vitally cost.
Quepensa, applying for something as a big an as EPO - with our EPO area being big even by EPO standards - is no mean feat. So when the Zim government wants credible plans, including funding, then this has to be solid. However, clearly, that funding is contingent on EPO sign-off. But EPO hasn't been signed-off. Put another way, Zim authorities have to believe that PREM can finance the work and so the application has to be robust, including information on sources of funding, and likely some documenttaion from the prospective funder that once EPO is signed-off, they will be able to approve the loan/debt. Meaning, until EPO sign-off, there is nothing to RNS.
Think is reasonable to assume that the funding/JV RNS is likely to come soon after the EPO RNS (I would personally like to see the news separated out, though with possible pointers in the EPO RNS)
On the matter of who it will be (i.e. the funder/partner), the more I think about it, the more I feel it must surely be Dattels' Regents Mercantile Fund. They have the experience, Zulu EPO fits their risk profile (i.e. Circum, which has actually turned out to be riskier) and Dattels (via LSC Lithium) has signficant Lithium background.
Vibes coming out Zim getting better all the time :-)
Whatsitworth - I can see you point of argument about the time to sign off the EPO and its valid.
However if you and any-other "nervous" investors must take into account the Zulu EPO isn't a one off its a number of licences awaiting sign off so its a matter of waiting i am afraid. A number to date have been signed off but it is a process. The government has officially announced Zulu EPO is granted its just a case of dotting the i and crossing the t. GR and Co away to meeting tomorrow so expecting a update JV partner and cash already lined up..........................
i expect any investors , are getting nervous due to being ZIM and the time taken to sign off , doesn't bode well for future working , not because of Prem because of the politics , if i wanted to invest i would need to know my money was safe and the investment is legal
Yes, and you can see how much the market takes notice of any GR ramblings, the sp is surging, not!!
Not confirmed. So we haven’t got it then! If not confirmed why is he saying such? If it is correct And funding in place via JV etc then this should be released as a RNS! I raised this chicken and egg scenario a few weeks back. If we need JV for sign off then the JV/funding must be RNS’d
PREM do not need to inform the market as the funding isn't confirmed until EPO signed-off. However, is great to see GR sneek mention of it into the Podcast - gives us strong indication of what's to come.
Its Africa and the process will be followed so i don't expect anything from tomorrows meeting which will confirm EPO more likely to get update on RHA funding and progress,
Top-up time!!!
Expecting rise today in anticipation of potential ZULU EPO signature tomorrow.
My expectation is that GR will leave the meeting with a signature of intent from the Minister of Mines. He will then call an EGM asking to raise the sp limit for yet another too good to miss opportunity. He will then dilute. Zulu will then go nowhere in a similar manner to all other purchases he has made in the last 5 years. I sincerely hope I am wrong but he has form.
CF, if GR is correct and we are ready to go at Zulu then surely we have backing/JV. This being the case should this not be in the public domain by way of a RNS? Extremely important information which as share holders we need to know.
What's been discussed doesn't Circum at risk. And GR won't be able to raise any significant amount given the share ceiling. EPO application will have required credible plans, including where funding will come from. And as GR, and is now on record, they had to prove they had the money to progress work on the EPO area. That segment of the Podcast is significant.
We are ready to go.
It may make sense, but this puts CIRCUM at risk. GR keeps saying hes got money for this and money for that and that he wouldnt need to do another share raise. Well guess what? He will and he will bring out the same old excuse that it's just around the corner. This is why he does Podcasts...its the only time he does them...when he wants more cash
Thinking about it, a loan form Regents makes perfect sense. Regents have that signficant Circum stake (they being the 2nd largest investor) and so Zulu EPO fits perfectly that kind of investment profile - early stage, large-scale, signficant upside projects, of the sought a Dattels-fund would think worth their while. Would add that for funds, not only is making a wedge an important thing, getting it right matters too (especially if you are of the stature of Dattels!).
Making more and more sense all the time.
Was just thinking about this bit from the Podcast:
"…is there anything we can do Mr President to please get you to sign this thing off? We know you’re open for business. We’ve proved we got the money to go and start work there. We’re desperate to start work there. Please let us."
They've proved they got the money to start atZulu EPO.
So a question is, where they have got this money from?
Could be a major JV partner - talk of RioZim, the Russians, Chinese or even the South Koreans (the Koreans are majorly on the lookout too).
However, I suspect that sorting a funding deal with enough capital but not giving away too much of the project wouldn't be easy to arrange. Too much haggling and stress, too much for PREM to prove/ demostrate before investment, as well as loss of full control.
Could there be a friendlier lenderan/ or partner perhaps?
Some discussion around JV possibly with MNH even.
But could this bring in enough capital and would it provide enough political weight to persuade the Zim authorities?
Not sure.
Am thinking could, once again, well be Stephen Dattels and potentially his Regents Mercantile fund. They're the 2nd largest investor in Circum, and funding PREM to get Zulu/ EPO to DFS would be a cinch compared to Circum and a relatively easy return. For PREM, it's a friendly funder - one we have a relationship with already via the existing Regents loan. This while PREM in return hold 5% of Circum, including buying out those two distressed funds of their Circum holdings, seemingly as a favour to Dattels.
This way, PREM keep a tight control over their prime assets, including around how they are developed, but simultaneously bring in established, proven experience and expertise in the form of parties who also happen to be solid allies. These close allies - Dattels and Neil Herbert - worked with GR (with GR in a sort of lesser - though still signficant - role) on UraMin, where UraMin was ultimately sold for $2.5billion.
Think about it folks :-)
It’s SP growth we need to see not just vibes!!!
CF73 What positive vibes and what is this based upon.
Some strong positive vibes coming out of Zim. Good luck to the genuine folks!
steven, am still holding there and very confident :-)
It was me who first reported the slap it was one of the Ministers DEPUTIES that leaked not
Winston Chitando the MoM . The slap was not just for that individual President Mnangagwa
had them all in for a series of leaks and all where given notice of dismissal on any further
occurences. Chitando was specifically chosen by the President as MoM as he has always
been in Mining and their choice to ramp up production as he has the skills required.
Chitando since he held an Indaba in London has been encouraging companies in London
to come to Zimbabwe and those already in country to either list on London AIM or in
South Africa to speed up finance to bring projects to production asap. He is in no danger
of losing his post he is their messiah and very PRO London so if all the fine detail is now
ironed out he will sign and he can now get the pen and camera off the President
President announce last week he is going on holiday for a couple of weeks
..PS. News on our other share it seems.
Good luck
I am not proving or disproving anything CF. Just commenting on the options and progress/lack of progress as I see them.
As we all know, there have been plenty of attempts to underpin the sp over the years and yet none of them have worked. Maybe this time will be different but I can't honestly say I have seen or read anything substantive to lead me to conclude that that will be the case. The public comments six or so weeks ago from the Ministry of Mines were positive, however, apparently he got a slap on the wrist for it, which does make one wonder.
Time will tell.
The way you describing the situation is plain talking the down the share. I would never us that kinda tone or approach in a share I was in, where the amount mattered to me.
Steven, you proving to me again that you must've sold out either in part or completely. Your commenting on SP sliding shows me you haven't considered the full range of developments that have been taking place that has derisked PREM as an investment, underpinning the SP, and that you're main focus is EPO and then you out -- except you already out, it seems...
If GR comes away this week from his meeting on Wednesday with a the EPO signed off by the President, I will be delighted. and the sp will probably rocket. However, this is not probable IMO.
If GR comes away this week from his meeting on Wednesday with a signed off 'commitment to sign off the EPO' from the Minister of Mines, I will be happy. This is possible IMO but will do nothing for the share price.
If GR comes away this week with nothing other than more words, I won't be surprised. This is probable IMO and the sp will continue to slide.