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Speel , if prem had paid for the drinks , you would moan that it’s wasting valuable money .
Speel , you are going over things we have already discussed , it is raining and it makes no difference the rain
or maybe he was conducting job interviews?
And what wS the point of his visit to London? To make disgruntled investors pay for their own drinks, a natural history vist to find out what pegmatitite, a shopping trip for the wife? Would di the visit achieve and what was the objective?
@Steward it is worse than that. We have had 1 result in 7 months and it's outside the EPO area.;)
The fact that GR thought that the next result was 2 weeks is also a damming indictment. It indicates that he doesn't review or control test productivity and that the results aren't his top priority. I bet though, he thought he was being clever with his finger on the button when he rang to find out.
What would the day in the life of GR be..? And what does he do in the rainy season?
Snowking - the bigger picture is that we're now more than 7 months down the line since the EPO was granted (I'd also suggest that we're several years since GR first raised funds for the DFS but that's another story!). We've had results from one drill hole 10 days ago (which took several weeks after the lab was "commissioned" and after we were told they were "imminent") and it is still going to be another 12 days before we get the next result and we don't know if that is for one hole or all the holes drilled to date or somewhere in between. I wouldn't gloss over the fact that he is doubling resource on testing because that clearly shows that they didn't have a properly resourced plan from the outset. Crystal clear it is certainly not!
Goodness, Snowking, we're all here to see Zulu realise it's full potential but it doesn't help anyone if significant holders accept anything and everything that GR says as gospel when clearly, there are years of evidence that he is simply our of his depth.
Steward , that is not my intpretation of the meeting . He said results will be in 2-3 weeks , so he said let’s check and rang his on site geo . Who said results will be one more week . George than said well let’s agree on two weeks . So it was all crystal cleAr . Anyone saying otheerwise , needs their head examine if they were at the meeting and say differently .
Acker , steward yes , sorry
I may not have been at the meeting but it does appear that some things reported by some from the meeting were clearly overstated (can't wait to see the video).
What is indisputable is that GR didn't know when the next results were due and had to phone to find out (damning indictment of his lack of control and competence) ... if it is in 12 days then that is still over 3 weeks since the "flow" of test results was expected to start... and what will we get... one drill hole again?
Snowking--I assume you mean first week in November.
Acker
Steward , no disrespect but your post on further testing, does not have the benefit of being at the meeting . George explained why it takes so long , but then explained he has doubled the staff involved in preparing the samples . This means in two weeks now 12 days , that we will get a flow of results . So let’s see what is delivered by first week in September .
Johnnypc - better to ask degrasse if any of his twitter pumpy charts have worked out to date... I suspect he will continue on his Breakout/GC vein until one fine day 6 months/12 months down the road the SP may recover and will claim it was all in his charting...
#AmateurTAExperts
Unsure of the timescale tbh johnnypc, but it's certainly needs to be soon.
Appreciate the reply degrasse. Surely there's a time limit on it too? If hypothetically the SP stays in the 0.16 - 0.2p range for, say, a year, the Golden Cross surely isn't still a relevant indicator?
Stweard - given how the market reacted to the 1 excellent test result so far (though this was coupled with the news that only 1/7 of the drilling had been done in 6 months), I reckon it'll tale a large batch of excellent test results to move this SP anywhere near 0.3p . Anything less than this, and the SP will go down. That or, as you say, a major deal. Any other news on anything other than Zulu, and the SP will go down (unless it's that another project has been sold).
With the SP so depressed, it's hard to know what's for the best. I'm leaning towards seeing if the next, hopefully very large and very good test results can lift the SP to at least the 0.3p area, we go with a raise. If not, some kind of deal might be the best way forward. Another raise below around this SP area would not be good IMO. These results would need to be very, very soon. I simply don't believe we won't need a raise by the end of the year, even if GR intimated this.
All very disappointing. I thought the meeting sounded optimistic, but the market disagreed. If the market doesn't trust GR now, when things appear promising (MNH notwithstanding) then it never will. We appear to have arrived in a very awkward place and not even close to where most of us expected to be 7 months ago.
Forgot to include that the other gross overstatement seems to be that there will be no further dilution... I'm factoring in one in the next 2-3 weeks.
johnnypc - apologies, I don't frequent this thread very often so missed it
The Golden Cross loses it's status when it disappears, so I think you would be looking at a SP of 0.15p, or thereabouts.
https://www.investopedia.com/terms/g/goldencross.asp
Johnny - you've hit the nail right on the head with "Only real, concrete and substantial Zulu news is going to move this struggling SP up."
GR's difficulty now is that he probably now needs to deliver test results quickly and frequently and it seems that this isn't going to happen until he has greater testing capacity up and running... I don't think that will happen for some time (look at how long the 1st lab took to get going).
Not only that, I don't think that the market is going to get excited if the results are at the same level as before - if they're below, even slightly below, then I think the market is going to react badly.
Unfortunately, the genesis of his current predicament lies months ago in decisions about how he would execute the DFS and the 14 month plan (if indeed there was a plan) - there are no quick fixes and I think he has hoped that the sp would be much higher to allow him to throw more resource at it but I'm now of the view that the sp will drift/languish for a while now.
There are two things that I think will shift the sp upwards - GR's departure (which I accept is unlikely) or a major deal. The initial feedback from the meeting suggested that there were active discussions on a specific deal... I now believe that to be a gross overstatement and that it's way too soon, in any event.
My guess at 1p by the end of the year seems to be utterly foolish now.
degrasse - I asked a serious question a few days ago but you didn't respond, so I'll ask it again.
At what point does the Golden Cross lose its status as an indicator? Clearly more than 6 weeks by your latest post...but is it 8 weeks? 6 months? A year? When another indicator occurs?
"Chartists have gone very quiet on PREM" - I update on Twitter on a regular basis.
"I wonder if the Golden Cross from about 6 weeks ago is still in play?" - Yes, as per my Twitter posts.
Looking forward to another day where high % of you just moan the day away.
Cheer up (even if just for a day, i.e today!)
Chartists have gone very quiet on PREM. I wonder if the Golden Cross from about 6 weeks ago is still in play? It was predicting an imminent breakout - must have been GR's definition of imminent!
But seriously - it certainly appears promises, imminent expectations, optimism and charts aren't going to move PREM's SP. The market doesn't trust any of these. Nor does it trust GR on his projects other than Zulu. Actions speak louder than words. Only real, concrete and substantial Zulu news is going to move this struggling SP up.
Many "Big" months have come and gone. The wait (so far 7+ months since EPO award) continues...