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Phillip1976
i understand now one of the old timer of the share and i can feel your pain , i have one share like that but I've delete from my portfolio and look at it once a year and RNS i think they come once a year too lol so i cant moan about prem and the directors don't own any shares in the company they run i co$ked up there
i brought a shed load shares when George bought a shed load before the EPO i thought if he's put his money in cant be all that bad and i know the need for lithium is very high and the demand is getting extreme too
i think you have a very good chance of it getting to 3.5 p and George redeems him self back to you and i still think if it was not for George we would not of got the epo as ACKER keeps saying its the most corrupt place to do business but it cant be as bad as Nigeria lol
hang in there mate its coming just got to get thru the politics it takes two to tango
Wow , what a response to SK mentioning moaners!
Some good posts today though ,we could really do with a Fri Morn RNS with verified test results, COO appointment and an official update on progress with the drilling (actual fact on percentage )
Our SP forecasts will undoubtedly change when we get these results .
My expectations are 1p .. any more is a bonus
GLTA
Bick I think if that was the case you would see large selling by James goozee, I don't think he would stand by and watch his investment disappear.
*Should have read Bick! Not Back.
I don't see any of your comments as moaning Back, it's just a title that some of the idiots like to label people with in order to try to lessen and rubbish their point of view. It's because they are lazy and quite often bullies. On this occasion it doesn't work.
Very interesting posts, Bick.
It seems volume is up and the sp is up today - maybe there's something coming "imminently".
On the one hand, I'd be flabbergasted if GR took any more of MNH without the PREM sp being substantially higher... on the other hand, I wouldn't be surprised. I think that it was Acker that said that we really should get an RNS on MNH... I guess if the terms of the loan arrangement have not been kept to then we should get a RNS. Given that there hasn't been one, can we assume that the terms have been kept to and that GR has some cash in the bank now to keep things moving?
On a broader point, it seems that, currently with Li, it is a seller's market so GR may well be able to secure an off-take agreement to build the mine - he has never been in such a strong negotiating position! He would be in an even stronger position if he had a clear and achievable plan for the DFS plus a plan for building and funding the mine without another party needing to fund it.
The price of Spodumene is in a very good place at the moment but, to be perfectly honest, I don't focus on it that much as it is too early.
When the DFS is 80% complete (i.e. all drilling and testing finished with report being written up) I will take more interest.
There is still a huge amount that can go wrong for PREM with GR at the helm and the fact he doesn't publicly state MNH is not being pursued will continue to hold the SP back. I am fearful a deal is being constructed involving giving a percentage of PREM and some cash for the remaining 81% of MNH, just so GR can bring his buddies into PREM on the cheap, effectively paying them to take PREM shares as I don't ascribe any value to MNH as it is loss making and needs significant investment.
Is this moaning? Perhaps. But GR has form for doing strange deals which benefit his friends (Circum, MNH, Casa, TCT, underwriting Herbert's loan to MNH) and until it is ruled out it is the biggest risk to PREM shareholders.
Bickmaster
The one thing that's hard to predict is the price of spodumene when the DFS is completed.... I think it's safe to say the price will be much higher than it is now though.
Wolf
Redpolo,
Prem currently has estimate of 20.8Mt. The target is 60-80Mt. It is of course possible the DFS could result in a larger deposit, though from the last stockbox interview I believe GR is targeting doing the minimum necessary to get to that level to keep programme on track as obviously the more drilling and testing required, the longer the programme.
From a minerals valuation perspective, a 120Mt resource may not necessarily be much more valuable to a purchaser than an 80Mt resource. The larger the resource (past a certain point) the lower marginal returns, simply because the buyer will apply a DCF approach and the revenues in later years are significantly discounted. Generally any revenues past 20 year LOM is discounted so much it is largely irrelevant. And if PREM gets to 60-80Mt it will definitely provide 20 year LoM.
So, all going well, the plan is to do the bare minimum to get to the 60-80Mt target and stop then sell that. That does not mean there may not be other resources outside of the DFS area which cannot be assessed thereafter.
Bickmaster
I agree that 2p and much more is very reachable. The world is crying out for Lithium and will do for a few years yet. It is not just used in the electric car revolution but in many more applications from phone batteries to electric toothbrushes.
Once our Lithium resource is upgraded and grades known, we will then see a lot more information regarding interested parties for a JV, offtakes or selling of Zulu.
There will be many interested parties and hopefully a bidding war will ensue, one thing is for certain, the share price will increase…..by how much who knows, but new investors will come on board, and the nervous will sell out, and perhaps most of the so called moaners lol
2p and much more will be very achievable and I am not being delusional.
Zulu is huge and will be more so in the coming weeks.
I for one am really looking forward to the news flow over the going into 2022.
Good luck all
The consensus towards a sale to the Chinese makes a JV less attractive for PREM. They have £7m they can raise via placings and could even take on some debt if needed to get the DFS over the line.
I also see the discussions about offtake agreements as being a red herring. If the Chinese are interested in buying the mine they definitely wont want offtake agreements in place, especially ones which they haven't negotiated themselves.
The risk is they do a JV solely so they can use the headroom shares to raise funds for MNH. There shouldn't be another penny spent on it, even if it means it fails. We can spend £7m on the DFS which will hopefully provide a return of approx £30-50 for every £1 spent. Or we can pump money into MNH to take it off GR's buddy's hands when numerous parties have failed to run it commercially in the past (at least two have tried and failed, and I believe it is three).
In my mind, the choice of where to spend the money is simple.
Bickmaster
Philip, that is the most likely scenario... If the EPO can push the SP past .4 the Chinese buying Zulu will go well past 1p.
Good luck everyone
Wolf
Wolf
If the Chinese are smart they will just buy the mine and develop it themselves which they have done throughout the rest of Africa
Plaserman
I’ve been in this share at 3.5p and I have seen the SP drive down through mismanagement and poor decisions
As stated before we have exactly the same assets that we had 5 years ago and we have only seen, over the majority of that time, a constant decrease in SP.
I lost £20k waiting on GR to come good, I like many on this board waited on the golden RNS to land but it never did. This share has been diluted and will further be diluted. When the SP is diluted so is the value of the assets, so to go from 3.5p to .21p can you imagine the dilution to the assets.
The SP in my opinion will only reach a penny at best which is a 500% increase from where we are which is good return but for that to happen an awful lot of things will need to go our way. The Ethiopian issue to be resolved favourably so that the gold can be mined. Zulu, I think we all agree, now needs a JV or even better a straight but out as GR appears not to be able to deliver anything that functions and RHA either to be working or sold.
So that’s my opinion on why it won’t hit 2p, do you want to provide yours as to why you think it will?
Bick, I think 2p within 12 months is achievable... the big demand for lithium hasn't even started yet, take the UK for example in 2025 who in their right mind would buy a new petrol or diesel car only to see it's value drop like a stone and reduced to scrap metal in as little as five years, you would have to be crazy to buy one on finance and the second hand car market will suffer too... The Chinese are very clever people and they know this... Don't concentrat on GR, or you will miss all that heavenly glory.
Wolf
Plasmerman,
2p is 900% increase from current levels., or approx £400m m/cap if there is no further dilution (there will be). If PREM did that I would be in a position where I could probably retire or at least cut down my work to a few projects a year, all well before my 40th birthday. But it is 900% from current levels. Am I saying PREM will never get to 2p; absolutely not - my fingers are crossed. But some of us would be happy with less than 2p. My target would be to take a chunk out at 0.60p and let the rest ride. Just need this to do 200% to enable me to do that which, in itself, is a significant rise.
Each to their own.
Bickmaster
I do get slightly irritated when people abandon all reasonable argument and suggest that anyone who doesn't agree with their 'sunny upland' and 'everything is wonderful' view of PREM is just moaning. Saying that they should try doing it themselves and inferring that it would be extremely difficult or impossible for them to do so, when, I am sure, many of us have been involved in owning and/or running businesses. This is the reason that we are so critical, because we can see the failings in how PREM is being run, we actually know HOW a successful business should operate.
When some of us 'moan' about these failings it is because we have invested into the company and therefore have every right to point out the managements failings as we see them.
Just going along saying everything is rosey doesn't cut it and those people should know better.
Just saying.
I think that’s unfair to deride anyone who posts anything to question the 2p … or 5p prices. We need a board that’s balanced and people are quite right to call out George’s failure to back up his interviews. A year last October he said big things were due “this next week or two” … then did a Christmas address to the nation 8 weeks or more later and although not specific the second time (and obviously couldn’t say what it was till he’d RNS’d it) it was March/April this year before EPO and actually anything to report. That’s 5/6 months … not good enough.
I remember the Primary Bid … raise done at 0.40p (before we meandered down to 0.05) what he actually spent the money on … scatter gun bits of other companies (no doubt cronyism with his mates on various projects to keep their lights on, and higher percentages of things we part owned).
He always says things are rosy … he always keeps the carrot dangling, I just hope final delivers one day he owes me for 6/7 years worth of patience cos I too see us way up at 2p and a lot more when it all comes together.
I take solace in the fact he not only looks like Dame Edna/Australian attaché but he’s nearly the same age, so if apart from his monster salary he is ever going to see the fruits of his Labour that being 20 years behind him gives me a good chance of at least partying with my profits not buying some fancier incontenance pants.
phillip1976
a serious question if you don't think this share will get to 2p why are you here and hopefully invested in prem .
hopefully your answer will help me work out some of the posts I've seen on here over the last 3 weeks
thank you in advance
Bick - Excellent, concise summary of where we are.
Anyone who sees this as "moaning" is deluded.
I think the biggest issue here is the disparity between the interviews GR does and the RNSs he releases along with the lack of regular communication. It is very easy to say the world is great in a Stockbox interview. It is a very different thing to write it in a RNS. The twitter is a shambles. PREM should be posting pictures of drilling activity and mineralised cores on a daily basis. The market simply doesn't trust GR and this holds SP back.
I only see minimal downside here - potentially a drop to 0.15p levels. The upside is potentially huge but needs to be underpinned by demonstrable delivery (which is sadly lacking) rather than promises and pipe dreams. Apart from the EPO spike the SP has done very little in the last 9-10 months.
Approaching 9 months since EPO and we've had unverified results for approx 200m of drilling out of what was planned to be 20,000m of drilling. Need I say any more.
Bickmaster
Steward 1
I had hopes of this reaching 5p when I first bought in
but as every week passes I doubt that it will ever reach those heights!
3p is my exit point but not sure I have the patience to wait that long .
At the current rate of progress that could be 3-4 years ?
Even in my most negative days, I reckon that this will hit 2p... just need the momentum of good news to build. My exit will be somewhere north of 5p!
This will never hit 2p.
The board has diluted the SP to much. It should take on debt instead of asking the shareholders to constantly satisfy GRs whims.
Look at all the good news that was meant to be coming…the SP didn’t go above .22 because there was NO good news just rehashed RNSs
If you think this will go over or even reach anywhere near 2p you are delusional
When this hit 2p we will still have moaners, they are people who have to wait on other people doing stuff which they could never do them selfs and think it easy ,how do I know this BECAUSE THEY WOULD BE DOING IT THEM SELFS WOULD’NT THEY LOL
Have a great day everyone but it’s bl==dy cold