Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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your a fool kid rather than a webinar we'd have an RNS stating we're producing tailings, are you really this misguided???
filtering matt waste of time
because they are in negotiations still napom which have been put on hold.
Ask GR if he can progress without NIEEFs approval, its obvious he cannot.
so you did make it up, you said
"NIEEF are the only ones who can authorise any production in the slightest at RHA"
how do you expect people to take you seriously if your making things up as you go along
just an observation.
last time we had this much bashing the share prise went from 0.0225-0.17
From that update you clearly see everything is on hold because of covid 19.
not just RHA but ZULU too absolutely everything because Zimbabwe is still under an indefinate lockdown.
https://www.aljazeera.com/news/2020/05/zimbabwe-extends-coronavirus-lockdown-indefinitely-200517065538318.html
lol Matt where exactly does it say that prem cant progress on production without authorisation from NIEEF??
Here is the bit that I think you're referring to
I am pleased to note that the Ministry of Commerce and Industry in Zimbabwe has indicated that whilst they cannot conclude the negotiation in regard to RHA under the Covid-19 lock down, they have nevertheless provided RTGS $2,500,000 (equivalent to US$ 108,806 at the official bank exchange rate), in interim funds that are adequate to cover holding and security costs at RHA for an extended period.
Losing the plot I think
OMG napom yes PREM has operational management when the mine is up and running.
IT HAS ABSOLUTELY NO SAY IN PROGRESSING THE MINE OTHERWISE WE'D HAVE PRODUCED TAILINGS AND WOULD BE IN PRODUCTION. NIEEF HAVE THE FINAL SAY WITH 51%.
You seriously havent got a clue how joint ventures work do you Napom.
The majority stakeholder always has the final say on what the hell happens.
We're in negotiations with our majority stakeholder who makes all the decisions to proceed which have been delayed by covid 19.
https://www.lse.co.uk/rns/PREM/funding-and-corporate-update-wdzt2t6dgw2w7he.html
Bizarrely kid I am not making anything up. If PREM could do what it wanted we'd have produced tailings back Feb/March time....everything got put on hold didnt it.
THE REASON IS ITS UP TO NIEFF NOT PREM.
https://www.lse.co.uk/rns/PREM/funding-and-corporate-update-wdzt2t6dgw2w7he.html
Chip didnt luckyboy answer your questions on profitability? Directly from the horses mouth.
Prem has full control of operations at RHA set out in the managment contract.
Matt you making it up now. Where u getting this info from?
then in a webinar he tells everyone with RHA we will produce tailings.
NO HE WONT......the Zimbabwe Government (NIEEF) is the majority shareholder in RHA with 51%.
NIEEF are the only ones who can authorise any production in the slightest at RHA.
If you do not believe me the FACTS are we were told February we would produce tailings, its now end of May.
The FACTS are the company cannot do a thing without NIEEFs agreement which they delayed while providing $117k.
Napom, assets are worth very little in a firesale.
Still waiting your profit figures. ...
MATT agree we are going nowhere -- so it seems the loans are being called in soon if we don't pay them off which means do the loaners have confidence this will move north - appears not . i would much rather give up the cicum shares and find a good partner to DFS the zulu we have like was promised years ago - no one seems to be interested in what we have or may have does that not send out a big message -instead we send money to other and we take loans ..... business madness
Dividend policy from the Manganese investment will keep prem ticking with or without the share cap increase. Loans are guaranteed by circum shares in case they default, two of which are friendly loans which prem dont need to pay until later. Directors have chosen to defer salaries and will be paid in shares.
the reality is PREM is going nowhere.
I knew Zimbabwe was a basket case, it is there for all to see there are going to be many more delays.
They cant agree to invest in a mine that would be profitable if it was sanctioned which tells you everything you need to know.
Either GR didnt give enough backhanders or he is being played so RHA dissolves into a continuous money pit and PREM then ends up losing its Zimbabwe mine.
It isn't too out of the realms of possibility that the Zimbabwe Government want PREM to bust so they can take their assets.
Think on this logically they agree electrification but then stall everything. Does this make any common sense to you guys?
2 loans were quite recent combined gives $500k. Recently $100k funding from govt to keep RHA going. This talk of running out of cash is scaremongering to say the least.
Its precisely why shareholders have no option but to vote yes.
There should have been strings attached like a heavy cut in salaries until progression was made on RHA.
Right now there isnt any pressure and this kid can just sit back on £250k a year while rolling out the same hymn sheet every 3 months.
The webinar was pretty much the same with different words than the last one with the exception of the Lady from Zim Govt said EPO was in the post and it'll be posted in the gazette shortly.
I guarantee you in 3 months time we will hear more rumblings of RHA, EPO and Circum to get another placing away.
Napom you said "All I'm saying is all loans are guaranteed by the circum shares"
That is by design from GR. Puts shareholders in a Hobsons choice. Vote no and they run out of cash and default on the loan and SD gets circum shares. Vote yes and GR carries on his failing dictatorship, receives his salary and expenses, continues shopping for dubious assets like a women does with handbags and the money train keeps rolling to him.
steven72--your post 10.02--excellent.
Thanks @Glosman. The problem is getting RHA, EPO and Circum new sorted.
The big question is can the CEO do it?
Straw poll time:
Answer 'A' for YES
Answer 'B' for NO
yes i agree with that steven,get RHA , EPO and circum news sorted and share price will be lot higher so less shares needed for MNH deal
Napom why has no action been applied towards cuts in salaries. They are excessive especially in the view that nothing is moving forward. Cut board/management salaries in half and they'd need placings every 5 months and not 2/3.
whats - that was suggested as a possible solution. We asked to delay the share conversion of regent and GR loans - both should be flexible. The investment loan in the other hand will be converted but I think prem shareholders will be better off if that was paid by circum shares.