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Daz - as you’ve eluded to many times… until prem get it out the ground… it’s not worth a lot…. Furthermore they don’t have the money to even try get it out the ground. Therefore ‘potential’ Regarding the leverage of other numerous parties… your assuming they were offering better than Suzhou right? I’d say wrong or GR would have gone with them. I own a gold bar that’s locked inside a safe which I don’t have a key for… guess what.. I can’t buy a Ferrari. (Ps laughing at my own crap analogy but you get the point) J
How can you say GR had no leverage ? He claims numerous parties were holding talks. Thats leverage. He has a mineral in world demand that is leverage. The majors are all throffing at the mouth to get hold of lith.
But GR didnt have leverage? And felt need to secure that deal risk the entire asset.
Steward1--do you think the short life mini mine will have the capacity to fund the construction on stage 2 mine,repay the cost of the mini and finance the EPO Will Prem not require an up front fund of say 75-100m just to get the ball rolling on the second mine
Regarding the deal with Suzhou that many feel was a bad one… it’s important to remember that Prem had no physical leverage walking into that agreement. Every company they would have spoken to would know that they can not possibly go it alone and therefore PREM must give up something important. I mention this not to say it was or wasn’t a bad deal, but just to offer perspective… prem came to the table with nothing tangible, just potential. J
'I believe that if GR meets the schedule the share price will increase to approximately 0.85p (£200m market cap divided by 23.7billion shares. Whereas completion of the DFS and a sale would provide a multiple of this without the risk.'
Snowking, it should bother you what % Suzhou hold. GR can't keep giving away %'s of Prem... there'll be nothing left. I sincerely hope that GR is not taking your advice anymore - Suzhou got an absolutely cracking deal when they took 13% of Prem. Surely, once the pilot mine is producing, we'll not need to give anymore of Prem away? There will be no need to go cap in hand to Suzhou.
I believe that if GR meets the schedule the share price will increase to approximately 0.85p (£200m market cap divided by 23.7billion shares. Whereas completion of the DFS and a sale would provide a multiple of this without the risk.
I have a question which you may be able to answer. On the subject of PREM owning 100% of Zulu, if Suzhou were to increase their stake from 13% to 30% before their pre-emption agreement ends (02 September) would PREM still own 100% of Zulu?
I hope GR's focus will be solely on Zulu, but until we have confirmation he isn't progressing any further interest in MNH or looking for more magic beans we cannot assume this will be the case. Long time holders here will know of the 10-15 interests he has got involved in down the years and Zulu is the only one with the potential of providing any payback to shareholders.
Bickmaster ok agree Suzhoe got more than just the shares , but it was still a godo deal for PREM , you were saying give away a % of Zulu in 2021 , i was emailing George saying dont , keep as much as you can because when you start telling spodumene you are going to mint money. Many on here wanted to do a jv and so we woudl be loosing 50% when in production. We are in such a great position , one has to pinch oneself to believe this is really happening. heading to production in< 9 months with Spodumene around £5000 a tonne , come on guys this is staggering . The only risk is we don't get the mien completed , so lets hear what George has to say , what work has been done . George is a lot wiser than many appreciate and i woudl not be surprised if he has been planning this for a while and hit th ground running . if he can meet the schedule i think Bick you woudl agree the shares will be north of 1p .
I'm not sure I buy into the premise of Suzhou acquiring the shares at a premium. Suzhou paid 0.4p per share for 3b shares. Shares were trading at ~0.32p at the time. There are two ways to look at this, recognising Suzhou got a lot more than just 3b shares through the deal.
(1). Suzhou paid 25% above the odds (0.4p v 0.32p available in the market, resulting in a premium of £2.4m) for the 3b shares but they got all of the rights listed below for free.
i. Exclusive offtake rights on commercial terms to the marketing and sale of 50 per cent of all spodumene produced at Zulu ("Offtake Rights"); ii. An irrevocable right of first refusal for 180 days from the date of the Subscription to match any further equity or loan related funding that is contemplated by Premier, in particular any deal relating to Zulu, on terms no worse than those offered by another potential investor; iii. A right of participation in any future funding so as to maintain Suzhou TA&A's shareholding of 13.38 per cent in Premier at all times; and iv. A right to appoint one director to serve on the boards of Premier, Zulu Lithium Mauritius Limited, and Zulu Lithium (Private) Limited ("Board Appointment")
or (2), Suzhou paid market value for the 3b shares and managed to get all of the other rights listed above for £2.4m.
I would have thought the offtake rights to 50% of production at Zulu would be worth more than £2.4m on its own. Indeed I would have thought it would be worth many multiples of £2.4m.
We need more news. And proper news at that. I am fearful we will get a lot of news we don't want tomorrow (MNH and new acquisitions).
Timing of these rns seems impossible to tie down and the market response is equally strange .
Daz whilst the shares may not have gone up and up as my predictions were not correct , the news has been very good and so with a premium placing and a $34 m loan to build a mine i am very happy where PREM is at the moment. Share price has been on a sort of rise over last 12 month.
Snowk, you imply this is a poor time to sell. There is a particular rns we hope for before 0800 Fri I believe. If not, it will be a poor time to sell or buy. He has previously gone right up to the wire, and beyond it a couple of times. In anticipation....