Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Thanks BP really enjoyed reading a serious investors mindset, I can see why you dont post often, its difficult reading the usual anti sentiment . I know you have meet some of the new board members and very happy to read your account of which way prem is headed.
Bottompicker
How are you reading my posts--
If I may reply
I take it you are referring to revenue derived from declared dividends--yes that has merit although be mindful that expanding the operations may increase turnover not always increasing profits
Plant etc--agreed--but this will come at a cost to Prem--MNH is not running a charity.
Good old Circum--every Xmas.
IMO we will not recover the debt--what I envisage is that under the new rules RHA ownership [100%] will be given to Prem
Zulu--a question of size V viability--awaiting DFS before putting on rose tinters
Gold--maybe--will have to sell to government.
REE--already discussed.
Dattels--no sign of Dattels getting directly involved
Herbert has already served on Prem board
Newco
Shareholders have always agreed--why change now.
Ok BP-
I don't need to discount value of plant to zero as we have a RNS detailing at 30 June 2019 Total Assets were $1.6M, all I have said is that any claim for us to have $2M from this deal is utter ****** and it is
1: We are a shareholder so all we will benefit from is what MNH have available to pay as a dividend. Y?E 2018 $20K profit, YE 2019 OPERATIONS ie Gross Profit $1.4M Net profit will be way way below this, say being generous $0.35M less tax say $200K, dividends on those sort of numbers will be zero or negligible as you need to retain funds to invest in the business
2: Seriously how much working kit do you think there is? Supposedly they're going to be drilling more Manganese, opening RHA, drilling Zulu and Katete and shipping it all 1,500KM through customs in two African countries. I've done business there before. Yes there may be some complimentary skills but on the scale being bandied about extremely unlikely
3: Circum value is just twitter value, value is what somebody is prepared to pay and as far as I know we were the last mugs to pay a value.
4: Listen to podcast, its all govt have acknowledged (same way they acknowledged it was US $) not real hard cash coming
5: Zulu we are at the bottom of all resource classifications, it means diddly squat till a full Jorc compliant report
6: See 5, lowest form of classification, its a guesstimate nowhere near proven (about $5M away from being proven)
7: See 5 and 6, we've been told it's enormous but its not actually been drill at all
8: Dattels isn't invested, a company he is involved in has made a loan
9: This one I don't know you'd have to ask him and see what the salary is
10: See earlier $20K net profit YE 2018, YE 2019 profit unknown but we know they needed a $1M off Prem, hardly suggests making huge profits and a cash cow really does it?
11: Err you're missing the point we won't be buying more MNH it'll be a coming together and then a dilution to raise the cash at which point GR and BR will convert their loans into the new already diluted company IMO
Not a crusade against Prem at all, you made 11 points, 9 of them don't really stack up against the facts, 1 I don't know and 11 my opinion is different to yours
Excellent posts Bottompicker.
molacker it’s like Boris and Jezza debating on here.
I have put forward some valid reasons why I’m invested and why I see value in prems assets but if you disagree then fine I wish you well in your trolling.
Nice weekend all.
So Mol of my 9 points you come back on 1 point In your head discount the 10% of plant to zero if you like.
What about value of
1. Revenue from MNH that prem will benefit from.
2. Expertise, equipment etc from MNH that prem can benefit from.
3. Value of Circum due for update by year end
4. Value of RHA including reclaiming debt of us $14mil plus management fee, plus plant higher fee with prem categorically not having to put another penny in?
5. Value of existing Zulu resource estimate , samrec compliant estimate btw.
6. Value and potential for numerous licenses especially GOLD over history rich and proven area as well as extending the existing Zulu lithium resource to probably the largest hard rock lithium resource in the world?
7. What about Katete huge REE resource?
8. Why the billionaire mining legend Stephen Dattels invested.
9. Why Neil Herbert come on board?
10. Why does Brent Stanton owner of MNH want in on merger with prem when he already has a cash cow manganese mine?
11. To answer Acker we shareholders (as opposed to you trolls) would only agree to more headroom if it’s to buy more MNG cash generative at fair or sub fair value.
Come on guys stop your trolling crusade against prem.
Moljen--i agree with you.
So many posters,who boast about the size of holding,really do embarrass themselves with a lack of accounting knowledge.
Not talking about amortisation,specific reserves or overdrawn loan accounts--talking about the inability of some to distinguish between revenue and profit and what a 10% holding actually gives Prem
Snowing - hint, replacement value is not current value. We did not get $2M of assets for $1M, we got $160,600 plus 10% of any purchases subsequent to June 19.
If you really have 176M shares then I suggest having a basic and rudimentary understanding of accounts and accounting terminology would be useful
I really cant be bothered going into the rest all over again but read yesterday's RNS, this $2M is just twitter and people looking for a pump
I have just listened to the interview . I sit on 174 million shares . I am so happy listening to interview. There are so many aspects to get excited .
1. Zulu ready to go after epo sign off , with cash reAdy to use.
2. Meeting next Wednesday to progress epo and rha
3. Perms $1 m dollars has got $2.2 m of equipment for mining plus profits from mnh , plus 10% of the mine of mnh. The mine is already profitable . That is an incredible deal
4. Mnh production ramp up is astonishing . Just look at the mnh prediction for 2020.
No placing for anytime soon
I will increase my holding as I am safe prem is going to be profitable from mnh , with Zulu to start soon and several rns to come .
Anyone being negative after listening to the podcast must live on a different planet
Oh BP, we've been through the plant ad infinitum today, it's not worth $2M it's another GR sleight of hand.
Another ramper running on hot air and wishful thinking
Mnh is revenue generative and this mining operation is being optimised and scaled up so revenues and profits are expected to grow significantly. Prems current 10% could be producing a yearly revenue of $1 mil per year to prem initially and scaling up to $3 mil by 2022.
This can enable prem to profitable after operating costs. This amount of revenue should value the 10% stake in MNH higher than prems current market cap.
Also mnh have independent valuations of plant and equipment of us$20 mil and prems share at 10% of equipment alone excluding the mining revenues is worth $2 mil