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"If you look at some old prem presentations you will see the rival company assay % s , prem is up there in top 3 in the world . I really think we will rival Pilbara . James Gozee holds 1.3 billion because he thought we will rival Pilbara , let’s see if he is correct . In this difficult market prem looks a great bet " Sk quote ......Just to be clear 2014 25th June Pilbara was at 0.025 and accounts show a loss of $19,000,000 and results lithium quality on par as prems!! We have a backing already , we are months away from the pilot mine starting !! What drugs are you guys on ? Its a buy buy buy and keep buying, it just hurts my average lol now moved to 0.024. So I've been a holder for nearly 3 years at an average of 0.021 at £80k book cost, if this is a fraction of Pilbara then guys come on do your home work read the past accounts and see how mines work and plan for the future. You can all say what you want but i just listen to SK and laugh at most other peoples comments especially the time lines "oh your 3 months out" so what?? yes the sp is low just buy more its a gift.
Snowking - yes I meant to say Q1 next year prem will be selling spodumene to suzhou for between $4,000 and $4,500 but the good news is the discount is an agreed price, so if the price of spodumene continues to rise and the average goes up then guess what, suzhou then has to pay the new average, so who know we may even be selling them it at $5,000 at the rate it is increasing!
“There’s no friends in business” so that answers your question, the Chinese wouldn’t hand out close to £50million as a friendly gesture, they’ve been to site carried out DD and both suzhou and prem are both looking to get what they want, prem get into production for free and suzhou get a small discount on spodumene until the loan is paid off then prem can sell to anyone they want, I say “free” as we borrow from suzhou to set up the mine then suzhou are buying the spod from that mine, therefore it’s a free mine in my opinion, that goes to show how desperate suzhou are for spodumene if they’re willing to give an interest free loan out, I agree confidence is low in GR but things seem to be changing and come Q3 next year prem will be in an unbelievable position!
Daz - GR said in the recent interview that the discounted price is taken from the average of fast markets, roughly $4,000 and also worth noting george did say we can pay that loan off as quick as we like and then sell to others so therefore prem will certainly be making the most of these high prices, I suggest you invest now instead of trying to talk this down for a better price that you may not get!
For anyone wondering daz is not invested here but is invested in kodal, however spends every day on this prem board to tell us all how bad prem is and how we shouldn’t invest, he appears to know more than suzhou as they invested £12m into prem at a premium price of 0.40 and then provided the funds to build the pilot mine interest free, I’m not sure a $5bn+ company would invest all their time and money if this was a terrible investment, they clearly see a big future in prem :-) GLA
Snowking I trust what you say a billion times more than a desperate deramper who knows nothing about Prem (Dopey Daz). Keep posting SK and I look forward to 1p + which I sincerely believe will be a lot sooner than most people think.
I agree with all your points on PREM. To have this % lithium and an extra 1000 tonnes of production boosts the financials significantly! I agree that the SP will follow. I just think that the market has for too long been given the GR Jam tomorrow treatment in place of solid information but I think market sentiment is thawing out and with further regular positive updates, the SP will catch up.
Some great posts last few days with the usual moaners in between . Welshy looking forward to you at july 11 th meeting , because if you really think things are negative you will have many people disagreeing with you . I am much happier from prem to have better news than I expected and share price response to be poor than the opposite last year of massibpve spikes to 0.5 on no real substance . We have massively de risked prem Cash in bank , Drilling fully funded Mine build deposit in and rest to follow in next few weeks . Because the assay results look better than expected at a massive 1.59% , prem increased their production target from 4000 tonnes a month to 5000. That is due to the better % lithium I believe . It is quite stunning the resukts of assays , not good but world top . I really don’t think that is appreciated just yet . Spodumene continues at contract level to be around $5000 a tonne , spot prices $6500 . Every indicator is moving in press favour but not the share price . But it will . Let’s see july 11 th what we see from prem . If you look at some old prem presentations you will see the rival company assay % s , prem is up there in top 3 in the world . I really think we will rival Pilbara . James Gozee holds 1.3 billion because he thought we will rival Pilbara , let’s see if he is correct . In this difficult market prem looks a great bet .