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Ballymena
Prem website
Acker
Where have you cut n pasted that from?
Lots of posts ACKER for a change… not. Do you hope the frequency of posts makes people forget that you have absolutely no idea what’s going on at Zulu however much you try make it sound like you do?
He intended use of the dis-applied shares is as follows:
As announced on the 11 December 2023, Zulu open pit mining contractor, JR Goddard Contracting (Pvt) Ltd ("JRG") had
agreed to accept payment of a limited number of future invoices until commercial shipments begin at Zulu in Q1 of 2024. The
board believes that this share settlement is essential and should be maintained as such, 769,230,769 new ordinary shares of
the Company at the price of 0.26 pence ("JRG Settlement Shares") will be issued to US$2.5 million (equivalent to £2 million)
in invoices once the conditional precedents have been met.
As announced on the 9 August 2023, the board entered into a Loan Facility Agreement with George Roach (“Facility”). While
George Roach agreed to waive immediate settlement on the Facility to allow the Company to conclude the fund raise
announced on the 15 February 2024, the Company is now in breach of the Facility, and it is imperative that 370,000,000 new
ordinary shares are available to the Company to ensure that an agreement can reached with George Roach for the default
and also settlement of the Facility.
As reported in Premier Annual Financial Statements for the year ending 31 December 2022 under section 17 (Contingent
Liability), China Zenith Capital Ltd were suing Premier for a 3% net debt success fee based on Premier’s consultancy
agreement with China Zenith Capital Limited.
In spite of Premier having two independent legal opinions supporting Premier believe that the prepayment and offtake
funding by CanMax was a deferred revenue in accordance with International Financial Reporting Standards (IFRS), the
Arbitration hearing held under the rules of the London Court of International LCIA Arbitration was lost following a ruling
whereby the arbitrator sought fit to discount the definition of debt under IFRS and focus on a common sense interpretation
of the Engagement Letter that prepayment and offtake funding was contemplated under the debt success fee.
Premier refutes the judgment in the strongest possible terms; however, the arbitration ruling is final and binding whereby
Premier will settle Zenith Capital Limited award in new ordinary shares at prevailing share prices.
The remaining shares are intended to be used to bring Zulu into profitable production and general working capital of
Premier. As has been previously announced, Premier have now taken over control of the Zulu operations with the departure
of Stark International Project (“Stark”).
Will George adhere to the terms and conditions ???
Acker
PD101
Yes, it may rise as you suggest but I fear it will not, on this occasion, be a sustainable rise.
The rising SP will be hit by one maybe two more placements only after these events do I see the start of the re-rate and even then, the company will remain on the tightwire.
These debts will not go away, they will have to be paid, and any revenue from early production will not be sufficient.
Acker
Next week is going to be good. Quick climb to 0.3-0.4 with the overhang gone not out of the question.
I am of the view that whereas I am delighted that the delivery arrived as per the timetable there remains a lot of work at Zulu before production, the Zulu mine remains in the pits.
I am very pleased with the progress; long may it continue however the company is well aware that debts have accrued and need paying. On this issue, I agree with certain posters that a further placement seems a foregone conclusion.
I think the rising SP is a means to an end.
Clear the decks of debt George then the company can look forward.
Acker
Just a reminder amongst the noise
Yesterdays final trade
17 Apr-24 16:46:25 0.18677 28,235,294 Buy* 52.74k O
…..subscription of 588,235,294 new ordinary shares
The final placing shares sold.
Confirmed new equipment arrived Monday as we were told it would.
Snowking, yet another misleading statement. Uou know as well as I do that the plant will not be fixed in the next couple of days. Its possible that some pipes will be replaced in the next couple of days but that's just a small part of the issues at the plant. Sorters, sensors, monitors, control systems all have problems.
GR will have to issue shares soon to pay debts, the cash he raised so far won't last until the end of May so imho there will be another raise very soon to guarantee him the best possible discounted price. After that the headroom will be gone at that point youve got to ask, will he call an EGM or will he call it a day?
Guess it comes down to shorters/lth/day traders
How is it trolling when someone points out Roach being inconsistent and other issues with Prem, but it's not trolling to constantly sing "200% rise next week for sure" and similar.
Neither is trolling btw, but I wonder how people reconcile that negative = trolling but positive is not considered unreasonable enticing to attract more buyers when nobody knows for sure Prem will work out.
No movement today
Price remains at $ 1133
Watch out for the fireworks.
Acker
Bridedog, thanks many will be watching closely to see if the price starts to rise on buying , indicating the change in share direction . If the plant does get fixed in next 48 hrs you will see the buying pick up as peo0le on ground leak that info . So watch this carefully as if George gets this fixed at long last the % movement will be dramatic and we can see this do 100% v v quickly . No guarantees , but lots watchingbthis . Prem has a cult following , it is a popular stock , but market cap is so low that movement up will be dramatic . It will be like Epo day
Raydaar that conversation I said was forward sold was because someone said the shares come on the market around the 18 th . I was saying they were forward sold before that date . So give it a rest . There is no more likely placing as far as I know unless you know better . The whole point is it looks like the overhang may have been cleared , but we are guessing . We will know today . If the buying continues and shares rise then we both know the share overhang gone . Pretty simple
Just a reminder amongst the noise
Yesterdays final trade
17 Apr-24 16:46:25 0.18677 28,235,294 Buy* 52.74k O
…..subscription of 588,235,294 new ordinary shares
The final placing shares sold.
No holding us back now
This link was posted in the non rampy telegram group that allows discussion.
I'll draw particular reference to this sentence:
" In my experience, one often finds very bullish comments about the worth of the company at such times, which can mislead investors and encourage them to overpay."
Sound like anyone who posts here with particularly bullish statements and insinuations?
Full article is here:
https://www.sharesoc.org/blog/regulations-and-law/forward-selling-a-crime-against-shareholders/#:~:text=Forward%20selling%20occurs%20when%20a,prior%20to%20actually%20receiving%20them
So tonight in the telegramp group your friend and mine Tony "Snowking" Nargol posted:
"I dont think it has anything to do with the dates
Clearly todays 28,235,294 was placing shares so forward sold"
Tony, forward sold means sold ahead of the placing, not after! For example, I own 1billion shares in PREM, I know PREM is about to place 5 billion shares and I've bought 1 billion of those shares in the placing before its made public. I then sell my 1 billion shares before the placing announcement at a higher price than the placing.
That's forward selling.
Should anyone really have any faith in anything that someone who cannot understand something as simple as forward selling?
Yet the mug punters in the group will continue to genuflect when Saint Tony speaks.
Hilarious beyond the extreme
*innacurate
I see Snowking was back today with his little insinuations. Gotta give the guy credit for ramping his book to get his profits at the expense of those gullible enough to believe him.
Let's take a look at some of what he says;
" we will see massive rise"
" millionaires will be made"
"ina few weeeks w hen shares have risen 100%"
"reckon we do 100% in next two months"
To date pretty much everything he has said has been accurate, but I'm sure he's banking the profits from his spreadbets whilst the mug punters keep buying.
Botuney
I see both you and your sidekick have started promoting EMH on this BB.
Maybe it is time for you to sell here and invest in EMH, you are not that impressed with Premier.
Acker
Lithium producers (fictional or real) are now cropping up everywhere online - including Ireland.
With the Meggs (who!) - of this world becoming ubiquitous rapidly. Watch EMH closely, and learn.
Megginson advises watching output from Africa.
“Although the quality of material is more variable than comparable material from for example Australia, and the continent still makes up a small proportion of overall global supply, supply of hard rock lithium concentrates from Africa is growing rapidly, especially from Zimbabwe and Namibia,” he said. “Currently, Chinese converters are responsible for the majority of the projects that are at more advanced stages.
Acker
Shot shot shot shot, down in one🥂🥂
yeah my new drinking game anytime one of the Jedward twins says keyboard warrior or innit
I'll start once market opens at 8 - I'll likely be muntered by 10am
You are either in or you aren’t. If you aren’t that’s fine. If you are in, you are on the journey and sometimes that is worth more than the destination, let’s see it play out.
Trade:
17 Apr-24 16:46:25 0.18677 28,235,294 Buy* 52.74k O
…..subscription of 588,235,294 new ordinary shares
Looks like that large trade will be the final placing shares.