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How low can we go? Wish I was out this weekend, but can t afford the real loss.
1 + 1 = 3 from Welshy... lol
#FlawedLogic
If we continue to progress at this snake like pace we will never realise the true potential or value .
One unverified result in 10 months is an insult to all shareholders .
Absolute shambles !!
Mains electricity has now been installed on site which is expected to substantially reduce the costs of running the plant so the overheads might be less.
I’m not for or against RHA reopening but I am prepared to keep an open mind on this.
We should chill out ...
If it takes months and months to get results for 5 core samples then in theory it will be years before this happens
You haven’t included the increase in utilities and fuel which is over 55%
Shytetalk, in the 2018 Bara report the overhead costs were $150 per mtu, the market value is currently around $320
Overhead costs per month would be around a million so massive loss
Hi Dazed, you may well be right, it could be doomed to fail, I have no idea.
It seems to me that there is a JV partner waiting if we can sort the ownership issue out, if a JV partner wants to put the cash in to open the mine for a percentage of ownership then what have we got to lose?
Moggy, it's only applicable if you have a maiden resource but GR did tell me that this is not the case at RHA. Why has he not find a JV partner yet for RHA, surely since 2016 / 2017 ?
Snowking, RHA was a money pit and will always be. MNH is turning the same. What is the ****ing point to buy MNH for $2m or $8m if the return is going to be null. Stop dreaming, wake up, tell the king at the helm to stop laughing at shareholders and give us a proper action plan.
GR seems to think we will just forget about other Assets RHA and Circum , Gold concessions , limestone .... he thinks we are stupid from comments on here and some of the groups they maybe as they seem to just want to paint the tinted glasses version .. it will be all great tommorow , then the next day , then the next day ..... GR needs to show us some roadmaps dates and milestones.
thanks for that positive bit of research Moggy
According to the 2018 Bara report, RHA could turnover $520,000 p/m for 20,000 tonnes at $320
M Night agree w ith you
I understand the frustration of MNH and RHA , but too many on here give strong opinions o n these two , when we have no real detail of these two assetts . So really we can not honestly accurately judge these two.
I agree focus is on Zulu , but Zulu is not goign to bring in steady money for two yes plus. Where as if you get RHA sorted it may be able to bring in a steady income . Also i see MNH as on its knees ready to be taken over not at $8m but closer to $2m
If covid goes away and contaienr shortgage improves , MNH coudl do much better and Manganese is creeping up .
Tungsten is close to $320 and RHA if we get % returned is potnetialyl also pretty good for a decent income . But we dont have all the details , and rather than people screaming don't touch these assets , clearly the priority is Zulu , but think ahead if Prem get given a **** load of money then they could use a little for these other assets.
RHA could be a surprise
I bought more today. Getting bored buying at 18 and selling at 20….where’s the results blubberman?!
I share your frustrations as a holder and was hoping we'd have risen as we should have by now of course. The Arcadia sale increased my confidence here massively and so I added to my holding here in December because I believe from my own research that we'll fetch a similar or higher valuation soon. How soon I can't say of course, but I think that trajectory will kick in this year, starting this quarter.
Looking at the RNS's released during 2021, I can see approx 12 RNS's focusing on Zulu vs 1 for RHA for example. S most of the resources and company focus is going towards Zulu + EPO. It' also normal for a company to give a status update for other projects too and so yes, we might get one or two developments regarding RHA this year as well.
I have written to PREM via email recently to share suggestions on how to better communicate developments at Zulu and the EPO and how if those are the primary focus, then the share price will likely see a stronger and sustained uplift. That will do more than losing your heads on this board.
George will know Zulu is the real money maker for his own pockets, as well as ours, so I remain confident he will get the funding we need very soon.
M_Night,
You know what, you 're right.
Shareholders should completely ignore the fact that that PREM has never delivered anything for shareholders because we are sitting on an asset with the potential to change that. We should ignore the fact that PREM are spending time and money looking at RHA and MNH, both of which have never returned as much as a single penny, when funds will clearly be needed for Zulu which has the potential to result in a significant uplift in share price if handled correctly.
You state, "We know we have an asset in Zulu that is likely to be comparable to and possibly exceed Arcadia's $422mil valued asset". WE DON'T KNOW THIS, THIS IS WHY THE DFS NEEDS TO BE PROGRESSED.
You state: "We know 14 groups at present have approached PREM to invest or acquire this asset." WE DON'T KNOW THIS AS IT HASNT BEEN PROVIDED BY RNS. GR'S INTERVIEWS AREN'T WORTH THE TIME IT TAKES TO LISTEN TO THEM AS THEY ARE ALWAYS HUGELY OVER-OPTIMISTIC.
You state, "We also know that with the EPO, we are likely to be sitting on something significant given it's proximity to Zulu." WE DEFINITELY DON'T KNOW THIS. WE KNOW THERE IS POTENTIAL BUT NOTHING HAS BEEN TESTED.
You state, "We'd be further on the way to realising this value if Covid hadn't caused issues at the labs in December." We were told we would have initial results in October, then 23-26 November. We are approaching the one year anniversary of the EPO and we don't have any results. This may be acceptable to you but it definitely is not to me.
You state, "However, if the assays had landed then many wouldn't be able to get in on the cheap at this level right now". BASED ON THAT LOGIC IT WOULD BE BENEFICIAL TO SHAREHOLDERS IF SP CONTINUES TO FALL. I WOULD PREFER TO SEE THE SP INCREASE.
10 months since EPO grant and no results. If you think this is positive then good for you. You ramp on here like you have been getting tutorials from Napom.
We need results, not ramps. And we definitely dont need to be throwing money away on RHA and MNH when Zulu is the only gamechanger on the table and needs 100% focus.
Bickmaster
M_Night
Everybody here is looking forward - that's why we are all still invested here. But you should be able to learn from history. So completely ignoring it is stupid. That would be one reason why, for example, people don't trust the "14 groups approached PREM" comments. GR didn't even know if it was 12, 13 or 14, so I'm not sure how you know it's 14.
"However, if the assays had landed then many wouldn't be able to get in on the cheap at this level right now." This is the sort of silly comment that deserves its place in Telegram/Facebook. You genuinely think it's positive the SP is where it is? Seriously??? Using your logic, it would be better for all if SP stayed where it is forever, so everyone can get in. On Nothing!!!
I have messaged GR. Most of my messages have been completely ignored and when he has replied, it's been general waffle.
I have questioned many times why I've left my money in here, given how poorly everything is going and how poor management appears to be. But, as all posters have said many times, the potential here is massive. Will it ever be realised though?
Agree with those that say we should stop looking backwards and look at what we have now. We know we have an asset in Zulu that is likely to be comparable to and possibly exceed Arcadia's $422mil valued asset, which has been sold in Zimbabwe. We know 14 groups at present have approached PREM to invest or acquire this asset. We also know that with the EPO, we are likely to be sitting on something significant given it's proximity to Zulu.
We'd be further on the way to realising this value if Covid hadn't caused issues at the labs in December. However, if the assays had landed then many wouldn't be able to get in on the cheap at this level right now.
For those that have a grievance with management, rather than take pot shots at those who share a positive sentiment here, it would be much more constructive to write to the company. Details on the website. :)
https://www.premierafricanminerals.com/contact-us
Snowking--hope you don't mind looking after the children whilst I take a break.
ps agree with you about RHA and MNH
Acker