We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Even when more than one applied.....poor attempt!
I think some daring Adventurer should get on a plane to Zimbabwe and check if Zulu, other than the name of a tribe, actually exist before putting more money into this company. I admire your front CF. How can you in good conscience talk about this share when it has fallen from 1p to .027p while you have been ramping it? How credible is that?
We were told it was big by the pinnochio of AIM...just its his wallet and belly get bigger instead of his nose.
Is not about how easy it is to get the EPO. Is about what the EPO enables PREM to do next,.what doors and opportunities it opens. Zulu was already purported to big, supposedly potentially on a par with Pilbara. The extended area dwarfs what we have presently identified. Has been said, has the potential to be easily THE largest hard rock lithium project in the world. So once EPO is in, I suspect our strategic partner is waiting to be brought in to the picture. My guess discussions long been going. From what I can glean, we haven't got long to hear regarding EPO (and am feeling confident we'll get the result).
But Prem may be the first. Now that would not look good would it
Wolf Zulu EPO will do nothing for the SP. EPOs are handed out to anyone you just need to hand in the paperwork with the $ in it. I have had a look through the internet and i can not find a instance where anyone has been refused an EPO
From my perspective, you have to keep an open mind in the AIM game, and not allow your self to succumb to blinkered vision... Zulu EPO will be the game changer... Wolf
Guessing you have sold Hammered? it would be pointless holding given your last post!!
Forget it CF, your money has gone along with all ours as well to the crook known as George the ****roach!!
Still as deluded as ever CF
Regarding the redistributing Circum liquidity event funds, if the right circumstances (e.g. Cirucm go 'live'), and the idea is genuine, then it naturally needs/ has to be RNSd. Right now, with Circum progessing activities in the background (with little information available, and know sense of when they will exactly IPO and go live, not sure how the GRs proposal can be RNS'd. The moment we have something concrete from Circum (i.e. exact plans, debt package raised, IPO etc.), including timeframes, then I think GR/PREM can begin saying more. RNS'ing what is at present an idea and a sentiment (re: Circum liquidity event funds) doesn't seem reasonable or appropriate to me.
On Circum, while I know they have been at this for some time, I believe their efforts are genuine (i.e. recent update/letter). We may well be hearing something by the end of year (they have stated DD by external parties to be concluded by the end of the year). Folks need to reread the Circum shareholders letter (posting it below:)
https://www.premierafricanminerals.com/component/rsfiles/download?path=Documents%252FJune%2B2019%2B-%2BCircum%2BShareholders%2BLetter.pdf
And on GRs idea of redistributing Circum liquidity event funds, I believe this also genuine. Have very recently asked the company about the latter and came away feeling this was a serious proposition but, naturally, various things need to happen first to make this a reality, so we wait to see (should be possible to see why it can't be RNS'd presently).
As always, folks need to do their own research and come to their own conclusions. Good luck to all the genuine folks!
If GR was/is serious about returning Circum funds to shareholders then put it to the board and issue an RNS. Otherwise its just BS to try to raise the price to get a fund raise away.
This leopards spots are tattooed on and won't change.
cherryburn, say whatever you want. I am here to try to recover some of money.
Electrification has begun.......wow that really brought the bulls in a sweat. GR was seen coming out of an ironmongers with plugs and metres of cable so that confirms his statement.
To be frank, am not bothered if money from the liquidity event wasn't distributed to shareholders, as long as it was used for developing Zulu.
Anyway, good luck to all the genuine folks!
Hammered11,
You got a right to be royally pi553d off.
Am basing mi thoughts on what I know at present. Some of this widely known already:
- Work at RHA has begun with electrification, progress though slow is vital and genuine. Zim are funding RHA back into production (regardless of the sideshow discussion around currency).
- We know that Zulu EPO was due to be resolved around mid-August. The Zim authorities were deal with objections and discussions these are meant to have been concluded. Have done my research and digging around here and am of the understanding that those objections have been dealt with. But is for others to their own research here and make of it what they will.
- GR has said he would like to redistribute Circum liquidity event funds to shareholders. I haven't deduced it - he actually said it. The calcs around this have been provided (starting from a well accepted $3 per share to what that potentially means for us). Other discussions have emerged out of this, including, and as outlined elsewhere, how can he afford to distribute those funds we clearly need them, particualrly for Zulu?!
We are at all time lows. My holding here matters to me hugely. I want to see a return. I believe a reasonable recovery here is very very possible.
fatsuperman, your comments are fair. Regarding the redisribution of Circum funds, GR is on record as saying that that's what he would like to do with the money, distribute all of it to shareholders. He can only be serious about that if we Zulu EPO comes in and we have a strategic partner who will pay for its development. Zulu, with the extended area, has the potential to be the largest hard rock lithium project in the world. We could easily give up half of it (or even two-thirds - referring to Zulu with the extended area) for development being paid by someone else/strategic partner and still do extremely well.
If Zulu EPO comes in, then it presents the chance of a much needed turnaround. We could do with it.
I wish I shared your enthusiasm CF. If George says something like 'could', I read it as 'almost certainly will not'.
On Zulu we still need to get the hell on with a revised drill campaign to get the resource properly described. The EPO just gives us a larger license area and in theory yes, it makes it more attractive, but for me, it's still a low-value proposition, so any partner is going to hammer us. I have no answer though - waiting to progress at Zulu until Circum or until RHA is providing income profitably will probably leave it too late.
CF, I cant believe you have the brass neck to still come on here ramping the hell out of this pile of poo.
Everything you have ever said has not happened, and yet you still continue to ramp....unbelievable!!
As mentioned earlier, have been doing some reseach and digging around and am of the view that, with Zulu EPO, we have cleared most of the obstacles - indeed, we have most probably cleared the main obstacle and is just a matter of waiting to hear that has been enough (I believe so - but is just my take).
If Zulu EPO comes in, is a game-changer from this point.
Hi fatsuperman, you raise a valid point, couldn't agree more.
There is the view that if we land Zulu EPO, then we will very likely be able to attract a signficant strategic partner. That partner will probably pay for development for a share of the project. I personally believe that partner has been found and they are probably part of the dvelopment and business case for the EPO (meaning there is no way they will turn down our EPO). If Zulu can be paid for through that process, and if RHA is being funded to production by Zim, then it leaves us with Circum. If Zulu comes off, then the Circum liquidity event could be used to pay a much deserved special dividend. GR has recently said that all of the Circum funds raised could be distributed/ returned to shareholders.
For what its worth, given the loan from is Regent Mercantile Holdings Limited, connected to Stephen Dattels, and that Dattels is big on Lithium (see LSC Lithium) and that Dattels is also a director at Circum Minerals, my money is on Dattels as being lined up as our strategic partner if we get Zulu EPO. I think the case for our EPO will have been made with a Dattels Strategic partnership proposed, which will have been seen by the Zim authorities as a massive opportunity and not to turn down (getting funding to develop large scale projects is not easy and their economy needs, just take a look at the article posted beginning this thread, Zim ambitions over the coming years).
On Zulu EPO, is very possible that we have navigated all the major obstacles and are very close to hearing something.
Hey CF. I'm with you on Circum valuation being greater than the book value. However, I absolutely do not anticipate the funds from any sale/IPO to be returned to shareholders in anything like the amounts we'd like. Surely PREM will use a significant portion to progress the projects, rather than just 'pay us back'. Just my opinion of course bud
They are at $1 per share on the basis that they are the security. On the due date, if we don't have the money to pay back, then shares will be issued. We now have the headroom to issue those shares.
We remain hugely undervalued, like nothing before.
If those shares are worth $3 can you explain why we are borrowing on them at $1. In your summary you did not mention prems has a loan and no money to pay it on its due date
The $15million is a fairly well circulated figure, based upon $3 per share for our 5,010,333 holding. Even the PREM website places a pre-liquidity event value of $7.5million - clearly is not worth that but at the point of the liquidity event, is generally accepted that $3 per shares or somethign close to that is achievable. We just need to hold out for a bit longer.
Regarding my calculations if the $15million were to be distributed to shareholders (this is following GR's own comments about this), those are pretty reasonable. Is based on 15billion shares in issue (when we currently have 9billion in issue - to properly 'RAMP' this, could easily have based on 9billion, or even 12billion, the latter leading to a dividend of c 0.010p, over 3 x current SP, and that's just the possible special dividend).
Regarding the numbers about the Zimbabwean mininig industry growth potential, I've taken those from the article posted at the beginning this thread. You should read it. It helps to place things in context.