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Recent placings, loan by George and funds received from NIEEF enough to keep PREM afloat while it waits for news. PREM will not raise as long as sp is this low according to GR
Li3 seems to be keeping prem shares according to news released by Li3
Regent Mercantile which was a friendly loan not looking to convert until SP recovers according to George
till the realisation hits that RHA will never go into production.
5 months of its profitable but we sit and do nothing jonjo = bull**** its loss making
while we wait for the EPO the economic crisis is people starving to death with hyperinflation with machete gang running riot around gold and other mining pits etc.
Market also waiting for the production report and forecast from MNH, expecting the ramp up in production to continue. Last time it was RNSd, mine was producing 5,600 manganese per month
Market also waiting for the decision from NIEEF to release the 51% ownership of RHA tungsten, giving PREM 100% ownership would enable them to process the tailings, immediately putting RHA back into production
Market also waiting for the EPO which enables PREM to progress the JV with Zulu and drilling plan for the extended area around Zulu - this could land anytime
Market must be waiting for the x2 pending offtake agreements for Otjozondu manganese and RHA tungsten mines
Todays small number of trades today reflecting the blindingly obvious, progressively lower and lower sell price even for small amounts. Soon below 0.075 at current rate based on today thus far so not only declining price but I'd guess anybody with 10 mil plus shares would have to take a monster haircut to get rid of them.
Guess some people will still want to tell us everything is all peachy in the Prem garden but even they must be doubting it by now
Matt, it was the same gun as held last time the cap was increased. Gr is a rinse and repeat merchant. Although merchant may be a poor term as gr can’t actually sell anything ...
realistically wolf is right. a gun was held to shareholders head and anyone with sense approved the share increase.
It was the only choice to be taken or lose everything.
the positive is its still trading.
the negatives are starting to reappear with buying non producing assets, also in Zimbabwe both of which he stated he would never invest in.
From the Circum RNS he seemed very keen and i hope he doesnt pursue Circum pref shares in their rights issue.
Given the delay of RHA for now 5 months it is more than likely moving into production isn't profitable as they stated.
If it was profitable we'd have been producing tailings from February and about to move into full production as we speak.
MNH promised expansion did not happen with all PREMs $1m invested in that expansion and that seriously has me spooked because we invested so much for so little return.
5600 tons when the presentation stated target by now would be 15000 tons and i find it alarming there are no answers to why its so low.
I know i for one got so excited about MNH because it wasn't run by GR and i thought we'd have some resemblence of truth albeit from another organisation we were invested in.
The excitement of the Circum payout has died and the spooky thought is this guy will see a eturn in Cicum Pref shares.
Realistically potash wont come back till at least 2022-2024 because of complete oversupply.
Next ZULA EPO huge huge potential as told by the company.
Realistically with the lies told we're probably just buying an empty field and the gold etc wont be found.
We owe Stephen Dattels $300000 and he could orchastrate a twist your arm George and we end up buying Circum pref shares as a result of bargaining.
We owe bozo George and his m8s $200000 so not only is he sitting there not doing a thing he's charging 10% for the privalage.
Unfortunately im siding with Moljen most of the $290000 conversion is still to be sold and that Australian company will dump PREM shares as soon as they can. Same with MNH management.
That and the company losing almost $200000 a month and it has disaster written all over it as we need placing money before all these last shares have been dumped and the buying side realises this.
But also wolf not as simple as you make out, if the group said under no circumstances will they allow a ceiling raise, then change their mind for no matter what the reason is they lose all their credibility, because what is to say the next thing they come out with isn’t a complete lie also?
What I am expecting next is an unclear vague RNS/webinar which looks negative, and then Napom will turn up again and explain how we have all got the wrong end of the stick and it is really a stroke of genius by GR
Everyone just needs to point out the positives they see or point out the negatives they see and leave it there. Pointless both sides repeated the same post again and again and again all day just wording it differently each time.
Wolf - rose tinted even extending to valuing my 8.944M shares, they're only worth £6,700 not £9K. Nah it's more something to do in quiet times - rest of my shares are pretty boring things are happening moving them forward so little to comment upon other than the speed of progress could always be better. This is the exception I can see everything holding this back and nothing of real substance to drive it forward and funding requirements are miles closer here than any of my other stocks. Combine that with all that has happened with Prem previously and current sentiment the current pandemic fallout (from a pandemic that the WHO say hasn't even started) it's becoming a perfect storm. So I leave the 8.944M where they are in case I'm wrong but if I'm right and we revisit the bottoms through worse sentiment and dilution there will in all likelihood be a bounce. If I think its going to be 30-50% yep I'll put a few grand in. Think whole market thinks the same which is why no volume on buy side people have had enough and even the most optimistic of you aren't putting your hands in your pockets. Seriously if I lose £6,700 it's not the end of the world, pain in the arse yes but been here so long may as well stay for the next chapter
If they had gone against raising the cap.... You would have lost all the money you have invested here... There's two ways to take advantage of the current situation... Trade it or hold for the bigger payout.
Even the major share holding group gone quiet. Said they wouldn't allow ceiling increase but had no choice and fell for the promises.....well they can all top up and average down at the next placing 0.05, 0.04 depends where they let it slip too!!!
For **** sake Mol... If you're invested interest is only about your 9k investment... I would take you seriously but we both know that's not true.
Shame you didn't finish your research Jonjo because if you did you'd know Li3 aren't exactly flush and on the 25th June issued a non underwritten rights issues for Aus1.1M. There is no lock in period mentioned in the Prem RNS and it's a non time comment in the Li3 announcement ie upside in a day, a week, a month etc. ASX mining sometimes makes AIM look highly regulated so a combination of a not cash rich holder and a nothing comment means I wouldn't assume anything and most certainly not the conclusion you arrived at.
Wolf - the price is generally lower each day yet neither myself nor from the trading volume do other people buy in. The reason the price is going down is well commented on, I can repeat it all again if you want. My observation is that it's a POS at this moment in time and the price will continue down and yes at sometime the price v risk reward may make it worth a few grand. I've openly said I'll review at 0.06 but that's all it is a review. This idea that we've a buy in price is silly, if I still don't like circumstances at 0.06 then I won't. Of more interest now is the longer nothing happens the more the likelihood of a proverbial *** or bust placing in which case I wouldn't touch it at 0.06 as there is the previous backstop down in the 0.03's. If I do buy I very much doubt they will be held for more than 24 hours.
Check this link. Li3 are going to be holding prem sharea.
https://hotcopper.com.au/threads/ann-enters-sale-agreement-for-disposal-of-african-projects.5440815/
Hope Mol and his employers havnt forward sold the Li3 shares. Apparently, they are keeping them and holding as they see the upside.
All of which you will conveniently forget Mol, when you obtain your next buy in price!!!
Matt - you forgot to include the Regent rolled over loan and loads of accumulated interest. The one that was extended to 31st March 2020 but we've not heard anything since. Also Li3 have a pile to sell and need the cash alongside MNH's shares to be offloaded.
Going to be a cracker when the dilution for all these plus the ones you mentioned come along and as you indicate the day of reckoning can only be put off for so long.
Lack of interest and volume means people can't even get out now if they hold more than a few million. We seem to have all the ingredients to be top of the fallers board when it comes, the days of issuing with a 20% discount could well be looked on with a certain fondness.
Got to admit this share is pure comedy gold and taught me an awful lot about AIM
What level they likely to have to raise at.....seems no trust in the bod especially whilst GR here. 0.05 or lower!!
the only saviour PREM has is MNH and we were given an overly positive expansion scenario in the presentation.
I was so excited about MNH because get that right with the expansion targets set within that presentation and no more dilution would have been needed.
I got spooked the moment we were told 5600 tons when the target as per the presentation was 15000 tons at that point.
It remains to be seen if MNH will ever hit the potential we were told in the presentation.
However, given everything else that we have been told and lied to about it is unlikely.