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I actually agree it won't rise much if anything prefunding Ann. But I think that's immaterial mainly as I'm expecting this Ann this week
As to GR running things in 18 months .... you may be right. But I strongly think he'll complete DFS and prove the mines value and see sp past 1p at least. It will then move into production stage. I'm not pre guessing how this will manifest.
4 years ago as you say was too early indeed for many reasons. Some were without doubt outside control of GR
Now though is an exceptional time to enter this share. It may or may not go lower but not much. But 12 months this is only going up
The only positive is Zulu, Chuggley. That's why the majority of people are here. With the EPO, the asset moves into a different league and GR is simply not in that league. I don't expect him to be running Zulu in 18 months time - I'm willing to wait.
Any investor will be asking what is the optimum time to invest... I got it way wrong 4 years ago... but I've got a few bob more waiting for that optimum time... whilst there was a valiant effort to get the sp up on Friday, there is too much history and uncertainty about GR this side of the funding announcement... can't see the sp rising into the announcement but happy to admit when I'm wrong.
No need to be so personal, mugwump.
Was Zimbabwe government corrupt ? Not sure if it were .... any more corrupt than UK lol
You seem pretty negative towards prem are you actually invested
Apart from getting rid of GR which I doubt will happen and I can actually see some positives in him ..... what would you see as positives.... interested to hear you're thoughts on positive traction
Steward1Your posts are worthless rubbish. I won't be bothering with you as the appropriate way of dealing with congenital idiots is to ignore them completely.
mugwump - we've been here before. GR decided to pull the plug on RHA and no-one else did. I'm pretty sure that he didn't cite the "corrupt" Zim gov't as the reason for doing this... does that make him a liar now by misleading shareholders about the reasons for putting RHA on hold? He took a very high risk approach which he couldn't pull off - it's as simple as that!
Not saying I've done no research on these other assets. Just not enough. I'll do more
As to circum. That's not on my radar yet as Ethiopia still a bit volatile. To me a possible future bonus
I know a fair amount of the history but balance it against a number of other things. Some like Zimbabwe politics is changing
Imo we are now entering a very different phase and I'm interested to see what approsch is taken and dfs test results over next 6 months
Not really bothered about volatility over the next few weeks
Steward1 -
You are demonstrating a total ignorance of Africa, Africans & how to run any business intelligently by blaming George Roach for halting production at the RHA mine and for not pouring money into developing Zulu ages ago. No sensible person would continue to pour money into developing business activities in a country with a corrupt, thieving Government clearly demonstrating their intentions to rip off any foreign investors trying to develop mines in Zimbabwe.
They stole 51% of every foreign owned business just for starters, then demonstrated their breathtaking corruption by announcing the granting of the Zulu EPO licence needed by Prem to develop that asset but then refusing to actually issue it - thus completely paralysing the PREM business. The refusal to issue the EPO looked like they were waiting for a bribe in a brown envelope from PREM - disgusting & blatant corruption !
No business in it's right mind would continue to attempt to function in such a Mickey Mouse country; so George Roach was absolutely correct to put everything on 'hold' in Zimbabwe until the Government there was able to demonstrate they would behave themselves a bit more.
Absolutely... GR the joggler
You might want to look in to RHA and MNH, Chuggley, if you've not done so. My initial investment in PREM (a number of years ago, I might add) was a bit rushed due to Zulu and lithium... there were also very positive soundings about RHA and even Circum. GR then pulled the plug on RHA and sunk more funds into Circum (rather than Zulu)... followed up with purchasing MNH... none of these assets have provided a return as yet and have the potential to cost more (apart from Circum)... GR's hubris about these assets and others could cost us dearly and, potentially, de-rail Zulu. Zulu had already been sidelined due to GR effectively running out of funds because he spent what he had elsewhere.
Remember, GR referred to MNH in the last but one RNS (?) - he's definitely thinking about using the sp increase (due to Zulu) to shore up MNH!! If folks are investing in PREM, they need to understand the history and GR's MO!!!
My opinion on the other mines. I hold back as I don't know the advantages or disadvantages.... its no longer just GR There's a management team who should no more that I
Lots of options may be jv on other mines. Selling other mines. Leaving moth balled. But imo they won't be looking at this point and raising funds via share sale unless it's minimal and clear advantage can be demonstrated
I'm 90% sure that any share sales will be via eas won't be a general sale
But I'm also guessing we'll hear more this week or very early next
Absolutely Chuggley - no-one does anything for free. I'm just highlighting the difficulty that GR is in.
And, if I may, can I also highlight that you've only mentioned Zulu... what do you think that GR is going to do about MNH, RHA, Katete, gold mines (can't remember the name) and anything else that takes his fancy... where is he going to get the funding?
Before suggesting that the Zim gov't will cough up for RHA or that there'll be some off-take agreement... GR has had plenty of time in the last couple of years to get RHA moving again but hasn't been able to... I suspect that he needs cash to do something with it.
MNH - we're all in the dark about this one! Is it producing income or not? If not (which seems likely), how much does it need? How is GR going to find funds for this?
I'd love to see GR make some right decisions in the next couple of years but I doubt he'll be able to resist taking funds for his pet projects... and I reckon it will be sooner rather than later!
Steward I think you're interpreting snowking for your own agenda. DFS complete = small dilution. Taking zulu to production will require more investment even if using a jv. They don't do it free. But 25 billion share for production will be irrelevant given what I'd expect mc
Snowking how much PREM shares did you offload recently (last 2 weeks) ready when the mega dilution will be announced? Be honest for once (You lied already about your ISA trading)
A near 40% dilution then Snowking - that's not a small dilution, is it?... and when Snowking says these things, it's almost as good as coming straight from the horses' mouth!
Three questions all holders should be concerned about is who will get these extra shares, when will he look to dilute and what will he use the funds for.
Will GR do a RI and let us take part or will he offer them to a partner/jv or will he offer them to his mates?
Will he do the dilution sooner or later? In other words, will he allow the sp to rise?
Will the funds be used for Zulu only or will he shore up his pet projects?
This area is where GR has failed to make good decisions in the past... I'm very concerned!!!
Just to add the important news this weekend for prem is the near 30% rise in spodumene to around $675 a tonne . We expect the rise in spodumene to continue and to be $1500 in three year .
So you can see prem having sakes of some $450M in 3-4 yrs . I expect shares in issue to be around 25 billion by then up from current 18 b .
You can see as each milestone is passed we should be going up a lot
Wolframite ,
I believe yes , as with such demand for lithium seen in three years. This could happen , so let’s see what are the plans . I believe we will be producing spodumene in three years and within 4 up to 300,000 tonnes a year .
to Wolf
"Snowking are you seriously suggesting GR could retain 100% of ZULU at DFS and fund 60/70 million to develop the mine?"
Why not ? It's precisely what any intelligent person would seek to achieve as being the best option if at all possible. Why give anything away when you don't have to ?
Doubt that very much.
Acker, I'm sure if GR raised the head room by 20/30/40 million that would best suite your trading mantra? Do you recall the last time GR raised!! and you called out those that supported it.
Snowking are you seriously suggesting GR could retain 100% of ZULU at DFS and fund 60/70 million to develop the mine?
Wolf
Snowking--crossed wires ..sorry.
I thought you were replacing the small dilution [DFS] with a proposed uplift in share ceiling,not both.
I have no objections to raising money,in fact I wish he would go in very deep and raise an exorbitant amount once and for all.
If George RNS'd that he was going to raise 20/30/40 million for Zulu,MNH amd RHA he would get my approval..go large George.
I don't want "other assets" mothballed.
We have EPO to exploit other lithium deposits to work,gold to extract.
Should George want to concentrate on Zulu ..take the asset away from Premier and set up "Newco" with it's own board and share capital leaving say 20% for Prem.
Do it large..and keep it simple.
Acker