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Rns today , tomorrow .
Hoping for a change in fortune . The mm positions yesterday were something special on level three .
Blue day today I expect
...I understand why people are bitter, but as the comment earlier says “what of value or what income streams, has George delivered in six years or more”???
Something is clearly going on here, but the man is a complete hopeless tool that is no doubt in cahoots with some of the companies that he’s spunked cash on these last few years.
I know the Zim thing isn’t his fault and Prem and Vast have fallen foul of the corrupt ‘open for business’ nonsense that comes out of Zimbabwe .... but it’s hardly his only faux par.
Hopefully for him:
Buy a company ... get a cushy non exec role on the new juggernaut and maintain a lifestyle that isn’t deserved... take your weasely persona elsewhere.
George my son “you are out of your depth”!!!!
All I suspect will be forgotten when you get out of the limelight... but I will remember you up there with Steve McLaren ... the Wally with the brolly ... as someone unsuited to your role in life, someone unfortunately let you loose at the reigns of a company ... and it’s not been good has it??
who’s the idiot tho??? I blinkin fell for the lies and the bull&&&& and invested in it.
I suspect Jonjo has had a 15 minute conversation with GR, has been hoodwinked in the same way as the infamous Shareholder Group and is now trying to convince the more sane on the board that PREM is worth investing in.
Nothing of value has been delivered here for over 6 years. That is the only fact that is not in dispute.
Jono--I remember you had the same problem with "Revenue" and "Profit"
I see you are still having the same problem with "Truth" and "Fiction"
Acker
Got better things to do with my time but if anybody else wants to respond to the imbecile just copy and paste the black and white below.
"........ payment of certain debts and for general working capital purposes necessary for the Group."
RNS Number : 7162C
Premier African Minerals Limited
21 October 2020
I like the expression " general working capital purposes" meaning the fat clown's salary and expenses mainly.
Cant believe you need to google it to know the difference
For example I have a financial liability to pay my gas and electric bill on time but it doesnt mean I am in debt. It also becomes a debt if I dont pay it on time.
Debt refers to the money you borrowed, but liabilities are your financial responsibilities
Jesus why on earth are you all having a discussion with someone who is obviously a Company mouthpiece or Napom in another guise. It tells you in the RNS the placing is to also include paying down some debts.....
payment of certain debts and for general working capital purposes necessary for the Group.
Its another P take RNS from GR, same as have been all the others over the years and same as the next one will be
current liabilities are classes as debt
https://www.investopedia.com/terms/s/shorttermdebt.asp
jonjo the MNH deal was a straight forward buy MNH stock for PREM shares it wouldnt have affected trade payables in anyway and why i didnt include it as there was £0 cash movement all shares.
Also, your not including the purchase of MNH stake @7% and 2% which happened in the first half of this year.
liabilities are not classed as debt, basic accounting rule
jonjo i actually missed that.......however, still leaves them in debt.
i suggest you tot up your figures they wont come to $2.915m debts
borrowings doesnt include the wages and consultancy fees Matt - they were accrued from the previous year and are now fully paid
you guys really need to read up before posting rubbish on here. Debt has been paid wiping the slate clean for the RTO.
Jonjo, no the Borrowings of $1.255m have been paid not the whole liabilities of $2.915m.
On 18 August 2020, the Company received a notice of exercise by the Investors to convert a further US$50 000 of the investment plus accrued interest of US$312.33, amounting to US$50 312.33 (£38 388.31) in accordance with the terms of the loan agreement as announced on the 7 May 2020 into new ordinary shares in the Company. The Company therefor has issued 62 450 479 new ordinary shares to the Investors an issue price of 0.06147p per share.
On 21 August 2020, the Company received a notice of exercise by the Investors to convert a further US$75 000 of the investment plus accrued interest of US$1 189.04, amounting to US$76 189.04 (£58 810.32) in accordance with the terms of the loan agreement as announced on the 7 May 2020 into new ordinary shares in the Company. The Company therefor has issued 125 905 202 new ordinary shares to the Investors an issue price of 0.04671p per share.
Matt again you need to read interim report - the liabilities your referring to up to 30th June have been paid for by issuing new shares -
In June 2020, Premier entered into a conditional sale and purchase agreement to acquire a portfolio of hard-rock lithium assets located in Zimbabwe and Mozambique from Lithium Consolidated Ltd ("Li3") following Li3's strategic shift of focus to their Australian based projects. Premier conditionally agreed to purchase the Li3 African projects for a gross consideration of AUD$ 150 000, (approximately US$104 000) that was to be satisfied through issuance of new ordinary in Premier. Premier completed the purchase in July 2020 by the issuance of 124 512 702 in favour of Li3.
On 24 July 2020, the Company received a notice of exercise by Regent to convert their loan plus accrued interest in the amount of US$390 040.92 (£305 836.77) in accordance with the terms of the loan agreement as announced on the 21 June 2019 into new ordinary shares in the Company. The Company therefor has issued 431 241 920 new ordinary shares to Regent at an issue price of 0.07092p per share.
On 27 July 2020, the Company received a notice of exercise by D-Beta One EQ, Ltd, YA II PN, Ltd and Riverfort Global Opportunities PCC Limited, collectively referred to as the ("Investors") to convert US$50 000 of the investment plus accrued interest of US$6 276.71, amounting to US$56 276.71 (£44 115.31) in accordance with the terms of the loan agreement as announced on the 7 May 2020 into new ordinary shares in the Company. The Company therefor has issued 70 426 740 new ordinary shares to the Investors an issue price of 0.062640p per share.
On 30 July 2020, the Company received a notice of exercise by the company owned by a trust of which George Roach is a beneficiary to convert the loan, plus accrued interest, amounting to US$206 027 (£159 131.07) in accordance with the terms of the loan agreement as announced on the 9 April 2020 into new ordinary shares in the Company. The Company therefor has issued 232 647 763 new ordinary shares to the company an issue price of 0.0684 per share.
On 11 August 2020, the Company received a notice of exercise by the Investors to convert a further US$50 000 of the investment plus accrued interest of US$1 183.56, amounting to US$51 183.56 (£39 165.66) in accordance with the terms of the loan agreement as announced on the 7 May 2020 into new ordinary shares in the Company. The Company therefor has issued 64 470 222 new ordinary shares to the Investors an issue price of 0.06075p per share.
On 11 August 2020, the Company issued new ordinary shares to Directors, employees, and other creditors in settlement of accrued but unpaid contractual amounts due, amounting in aggregate to £337 428. The Company issued 374 920 533 new shares in settlement of accrued but unpaid fees at an issue price of 0.09p per share.
On 18 August 2020, the Company received a notice of exercise by the I
Your wasting your time mate,What is it they say 'you can lead a horse to water but you can't make it drink'.....(i was that horse)..Jonjo even when presented with FACTS he still cannot see.....Oh well good luck....;-)
The Group had an operating loss of US$0.649 million for the six months. Premier received continued financial support from a major shareholder throughout the year. Premier is committed to reduce its debts and restrict capital expenditure to our focus objectives as set out above.
Jonjo, I question this with $1.495m shoved into Trade and other payables.
Your claim of them debt free is also nonsense. The figures of debt are in my last post $2.915m of them of which were the $1.255 borrowings I agree with you have been paid off.
That still left them $1.66m in debt and they raised $1.1m still leaving them in debt $0.56m plus what they spent from end of June till today.
I figure they are around $1m in debt still to find.
So I expect some news to get the SP higher for another placing .1 would be good.
buysbadly the half year report dated 30/9 showing $0.649 losses in P&L but if you look lower you see current liabilities of $2.915m (i.e debts they need to pay). $1.495m of them Trade and other payables.
They have paid off the borrowings of $1.255m leaving them as of 30/6 $1.66m to find to pay the bills.
Today they have raised $1.1m still leaving them short $0.56m to pay off liabilities as of 30/6 + what the have spent 30/6 to todays date. I figure they need around $1m more just to pay off liability debts
PREM operating losses for first half of 2020 is down to just over $600k. This was taken from the interim RNS
The Group had an operating loss of US$0.649 million for the six months. Premier received continued financial support from a major shareholder throughout the year. Premier is committed to reduce its debts and restrict capital expenditure to our focus objectives as set out above.
Oh my god …. really forensic accounting!
Your obviously not very good at it!]
Loss in the P&L would be a Debit and youd have to "hide" them in the assets in the balance sheet
And for your information I am Chartered Cerified Accountant
So please stop talking ******