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Shorters even, finger shaking with excitement!!!
Well put, lots of us genuine lifers who know the potential in the manifold assets
We don't need to be told the issues that needed resolving, the beginnings of that we saw today
Shifters beware, burn time upon you lot, and good riddance
Long and strong will be amply rewarded
I’m a PREM holder for over 2 years now and check in on this board occasionally but put off posting due to the pure negativity coming from certain posters who are not holders and clearly shorting this share. Their aim is simply to put PI’s off investing or sell up. Well, TBH it’s been difficult to defend at times but for the first time in a long time the tide is changing and I’m feeling very positive about the coming months. RHA fully funded by ZIM back into production end of year or perhaps a few months more, no more C&M costs, PREM will not cough up a cent and will be paid the management fees and the first $14M or so profit. Possible EPO decision on Zulu next week with JV opportunities waiting in the wings who may fund to DFS stage. Merger details to come on the manganese mine which is expected to be generating annual profit of $7M and a lot more going into 2020. With that comes revenue stream taking away the need for dilution to pay PREM running costs and also new management structure with GR stepping aside. The “line in the sand” as GR put it will be drawn and an end to dilution. Oh, and don’t forget our Circum holding underwriting more than our current MCAP, worth about $5M but likely 2 or 3 times that come the end of the year.
I am pretty happy with this rns , we can slowly start to fix the problems at rha . Yes decline shaft is for another day . Ok if electricity only runs 8 hrs a day , but better than paying for diesel electric most of the day . Small steps forward then a gallop
So points from the webinar coming to fruition meeting with NIEEF and electricity connection now to start immediately at RHA and next up should be rescheduled meeting with ministry on the 23rd July regarding EPO for ZULU all positive events for a change
So Zim inflation must be one of the few things in this world that is going up faster than the PREM shares in issue!
DJ - no it's still worth something but last time I checked inflation was running at 175%, doesn't take long for something to be worthless at that rate. All those lovely unpaid US $ plant rentals and Mgmt charges would have been converted to Zim $ which are becoming less value each day.
As to Zim Govt comments, I give them less reliability than the Breixt comments over how much we'd have for the NHS and we all know how they turned out, just political BS
Moljen, not sure you can assume the Zim dollar is worthless. The RNS does also say '
NIEEF have reaffirmed their commitment to provide additional RTGS Dollars based funding to the extent this is reasonably necessary to bring RHA back to production. Further updates will be provided in due course."
That at least sounds encouraging to me. So I presume from that that they will provide funds to get RHA up and running and that has to also imply into profitability or it isn't worth them bothering.
Chippy - PMSL with that one, yeah sure we'll be able to raise a surcharge on the Zim Govt. Think that's a likely as the "vital sources of income" being of any real use.
Honestly - electricity but there isn't actually being generated to begin with and half an hours research will let you know there aint going to be any quick fix in that respect so what use is it to us.
No decline shaft - well even with electricity still no evidence RHA would be profitable
Zulu - despite BP's assertions we've got diddly squat, some internal calculations so it's right at the bottom of the hill in proving up a resource.
Always said when I see anything positive I'lls ay but at the minute IMO people are cheering because the deck chairs on the Titanic are being rearranged.
Anyway doesn't matter whether my opinion or anybody else is correct the share price is the ultimate arbiter. Is that seems I see back in the 3's, lets see how much they are by the end of the week
Chip I just liked one of your posts . Miracles do happen
Mol the easiest way to deal with that is to surcharge the zimgov the difference between $Z and $us
the money can then be used in the drilling program at Zulu if it ever starts up again.
Bottom, the big if is will there be profitable production? History says no. And without the decline shaft, you cant get the tonnage up through the shaft that GR spent a load of cash on and the shaft blocks the "improved" grades of the open pit. Pish poor planning gives pish poor performance.
BP - Have you ever considered the possibility as RHA is in Zim and the agreement is with the Zim Gov the Management Agreement and rental agreements are now in ZIM $ RTGS?
If they are (been informed they are so check for yourself with the Company) then they're worth best part of diddly squat which would make your "vital sources of income" statement a bit erroneous.
Hey ho it's Prem and the wool is easy to pull over some people's eyes
Many things to consider that could be positive on RHA alone.
RHA closer to producing and electrifying will drastically help.
To me the commitment from Zim is clear. They can’t think prem is going bust !
Management agreement and plant rental agreement are two vital sources of income for prem.
Once production starts proceeds can be used to pay down the loan accounts ( money owed to prem from RHA) this is circa 4 x current market cap.
Prem also receive 49 % of revenue aside from rental agreement, management agreement and repayment of loan accounts.
Asterix, one thing is for sure there is no shortage of actual shareholders! Mr 10 billion has made sure of that...
astarix, i agree.anything that offers a small ray of light is welcome here. there are one or two traders here though that will disagree with you and find a complete flipside to any positivity so be warned. you would've thought they have had their entry point by now though....
Well from my point of view RHA a step closer to restarting with electricity connection which greatly improves the economics for profitable production only a good thing for actual shareholders
Its a voyage of discover Mol, you cant spell everything out.
Charlie, did you make a complaint?
Hi Chippy, perhaps I was too subtle!
Think he's implying its a well timed RNS to try and get support for the AGM mass dilution by the king diluternator
M2210 - aka jam tomorrow based on what doesn't appear to be reality of the situation being the relevant Zim Minister saying situation is dire and the article detailing the 18 hour power cuts. Obviously just IMO based on those two which is no working connected power in the foreseeable future therefore funds will need to be raised to continue in existence and not just the forthcoming one as after the loan shares are issued there will be about $350K left which in mining terms is nothing.
Moljen - As you can see I don't post on here, however I have been holding here for 4 years, I am unsure what you mean when you say verbal diarrhoea for other purposes? - What other purposes are you suggesting?
GG - looks like we agree, being fed multiple lines which do not stack up in them afce of reality.
Roll up, roll up the gravy train is still being prepared for boarding destination cloud cuckoo land
Bear case... power cuts!
Ailing Zimbabwe reels as 18-hour power cuts bite
Most miners have been asked to import their own power, a move that could double their costs
Jury out? https://www.businesslive.co.za/bd/world/africa/2019-06-18-ailing-zimbabwe-reels-as-18-hour-power-cuts-bite/
Miners are being asked to import their own power!!!
Verdict - guilty of producing verbal diarrhoea for other purposes IMO