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Lol… 0.0018p to 0.0022p
back to 0.0019 to 0.0022
back to 0.0019p and so on
So it’s going nowhere that’s where is going
We need to employ Andrew Marr to sit in front of Georgy boy and grill him until he breaks!!
Reading the same book.
Acker
@Alert - I don't doubt the Zulu asset and I have mentioned this tipping point before where the momentum behind Zulu outweighs any shenanigans that GR is up to.
However, It is a serious concern that GR could muck this up big style and last week's market response to the RNS and GR's interview.... AGAIN.... shows a lack of confidence in his ability to make something of Zulu.
In my experience, when someone is not candid and forthcoming, they have something to hide... when there's no clarity regarding LIBS or grade returns or how much needs drilled or DFS timescales or how much it is going to cost... and when GR avoids answering questions directly, one has to be concerned... the market certainly is!
And now we have Snowking saying that he's confident that the DFS will be done on time or even ahead of time... even though we are months behind, even though GR is doing the DFS on a low budget and even though there is no official announcements to explain how!!! The market isn't convinced!
And silence on a COO!
Another example, it should be easy enough for him to tell us what the situation is with the MNH loans but he isn't forthcoming... why on earth did PREM become the middle man for a loan from an individual to MNH... I'm very concerned that we're going to get another smoke and mirrors scenario where we end up holding the baby and it is going to cost us dearly. He could easily tell the market that he is ruling out a dilution for MNH (and boost the sp). The fact that he hasn't done it suggests to me that he intends to buy it... despite the views of major shareholders and his previous inability to turn any asset into a revenue-producing entity!
And now we have the possibility of a more serious wave of Coronavirus... what do you think that is going to do to Li prices?
I reckon GR's mishandling of every asset including Zulu so far has cost us 10's of millions, if not more. The problem here is that as the value of the asset increases, the cost of GR's mis-management increases.
Don't forget - past performance is a good indicator of future performance.
Zulu will only come good when there is someone credible and competent in charge... I'm holding on for that day.
@Alerts, exactly my thoughts. Zulu is gigangtic and cannot go unnoticed any longer. It will come good at some point in 2022, I am very confident that things will fall into place within the next months, obviously in our favour.
Let's hope we get the results by Xmas and that the market reacts as positively as we wish it to react.
Have a great week all
Steward , glad your health turned out ok .
The fact is the dfs is being done carefully but on a low budget , but is being done to a good standard . However I am reassured we don’t need 20,000 metres of drilling . I am told we should complete in time as expected or before . So it is all good l all we need are assays which as I said I e kept end of this week , but nothing is certain .
Snowking - there is absolutely no reason for the DFS to be done on a low budget. Not only does GR have the headroom to do it more quickly, he is sitting on an asset that should bring in billions... does he not have the confidence in the asset?
As for Omicron, prepare for the worst, hope for the best! Hats off to you and the NHS. Had a wee bit of a health scare myself recently - there was a mix-up in my urgent referral but when I eventually got seen, the surgeon and his colleague were superb... couldn't have asked for better!
Steward further point on the gvt reaction , I work in the nhs and rest assured the nhs make the wrong decisions more often than not on covid . And I am a strong conservative supporter and nhs doctor . However it is correct to be cautious on the new variant , but early signs are this is not a bad virus , but over next week we will get more info .
Steward the hole thinking n the new virus is as usual from governments an over reaction or under reaction . When we should have acted to ban flights with the Indian variant and we were late l no complaints this time but , it is clear there is no information to know whether this is a bad or good thing . I have no heard a single death from this new virus and early reports the efffect is mild
If it is very infective but milder than delta variant then this is good news .
Back to prem , prem is trying to do the DFs on a low budget , it could have given away 20% at a cheap price , but we just need to finish funding the DFS then George can pick a Jv for say 20% . This will be for a good amount of money . Prem will come good and we don’t need to worry what the short term plan is . Just be reassured there is a **** load of interest .
steward1-a very good comprehensive post.
Acker
Snowking if all that you are saying is correct then why is the SP as low as this !!
You seem to keep giving out your expected good news to come line which never quite materialises.
We have not and will not get the rewards from Prem as long as George is at the helm .
Maybe next week maybe the week after !
The lack of any regular news for the shareholders from George is diabolical !!!
Snowking, I don't dispute anything you've said (although I'll treat with extreme caution your claim that there are 9 firms doing due diligence... tell us your source!) but none of that has moved the price... hate to point it out but the sp has gone down since GR published the last RNS. It's not rocket science to understand that it's not just that the market doesn't yet trust GR to DELIVER but the market doesn't trust him full stop!!!
You've just set out what I think GR's flawed thinking is - because he has this massive asset at all-time high prices, he doesn't think he needs to do anymore than he is already doing. Your comment...
"However we don't appreciate how much work goes into a DFS and PREM is working hard to progress a lot of the DFS which goes under the radar."
If there is that much work, why is he not getting more resource and more drills in? Why isn't he using the headroom that he has to get the job done more quickly? If it's all "under the radar", why doesn't he bring it all into the light?
What we do have is a lack of clarity over progress on grades, a lack of clarity on what needs to be done for the DFS, when the DFS will be completed and a lack of clarity over funding? Silence on LIBS, silence on a COO, silence on MNH, silence on RHA.
How do you think GR is going to fund Zulu in the short term?
As for Omicron, the demographics are different in South Africa and that could explain the moderate impact... Boris and other western leaders are very, very concerned and haven't taken the action that they've taken because it's going to be a wave of common cold! Things are going to get worse before they get better... could one consequence be that the Li prices dip over the next couple of weeks?
If anything, the last few days shows that the future is unpredictable and putting store in currently high Li prices might not be the wisest thing to do.
Snowking - what makes you think we will have assay results this week? Do you know something or is it speculation?
If it's even close to 9 parties interested in PREM, then this bodes very well. If being the key word.
Agreed, my understanding of the COVID virus is the more it replicates it's self it will become weaker, and become just another version of the common cold.
Wolf
coudl the New covid variant be a good thing and rid the world of the delta variant
https://timesofindia.indiatimes.com/world/rest-of-world/south-african-medical-association-says-omicron-variant-causes-mild-disease/articleshow/87949404.cms
https://www.bbc.co.uk/news/av/uk-59450988
https://www.telegraph.co.uk/global-health/science-and-disease/south-african-doctor-raised-alarm-omicron-variant-says-symptoms/
If true market s will bounce monday
Steward why i see the price of Spodumene as important is exactly what is happening with Prem
So Prem has come a long way since the EPO in March although the shares have halfed. Lets summarise and see whwere we are going
1. DFS drilling shows new zone to south east with good metres for examples
Hole ZDD-36 has 89m of what looks like Lithium , hole ZDD-34 : 50 m and ZDD 35R : 67 metres. Looking at early drill results which contributed to the scoping study the max i can see is 40m in Hole ZDD-45
So whilst we await independent assays results back end of next week ,, we can see there is a lot of lithium in the ground and the resource must increase and soon.
2. Since EPO Spodumene has risen from $400 to $2100 , this is vital as this refelcts the demand for electric cars and lithium .Thsi is the game changer which was not present in March when shares were 0.4p plus. This is vital as China has carefully been building up EV capacity over last two years and new what was comming , whilst the west and USA were asleep. Despite Tesla doing well , the west is behind on Giga factories. Now there is a mad scramble to secure lithium supply.
3. Prem have said they are in talks with interested parties . This is massive as there is a scramble for interest in Lithium miners , you can see that everywhere . So we have the perfect storm , Spodumene very high and alack of supply and Prem just at a stage it needs a partner.
4. Due diligence has already started with several companies ( rumour 9 plus ) and this is where Prem are going . These companies will have to pay up to join Prem and prem have choice.
5. I reckon we get a small JV now for a small % of PREM and then go to get an offtake deal in H1 2022 to build the mine.
I really believe because next year the chip shortage will be surpassed for cars and we will see rocketing car sales in mid 2022 and this will create a massive shortgage of lithium .
6. I expect in coming weeks and months a ramp up in PR from Prem
So it is not rocket science where this is going . However we don't appreciate how much work goes into a DFS and PREM is working hard to progress a lot of the DFS which goes under the radar.
We should eventually get in my opinion to a resource of 100mts , from the 20 mts scoping study and it will make PREM one of the bigger lithium miners in the world. The difference now is one can see a path to this happening due to the lithium deficit.