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yes but the SGM wont be rejected, it cant be because shareholders have too much to lose.
Not only circum shares but the company would die on the spot unable to get further needed funding.
MY VIEW good give them the CIRCUM shares - waited so long , we can get something back for them instead of all tied up
I could go on all the day Matt but havnt got the time to educate you. All I'm saying is all loans are guaranteed by the circum shares. This was done in case the resolutions are rejected in the SGM.
Matt your embarrassing yourself. Circum shares are used to guarantee the investment loan (not the regent loan) you are referring to. Read the RNS
you do not read my posts......I never mentioned the regency loan.
I mentioned the $290k conversion to 3 shark investment firms who always forward sell.
If you bothered to get your head out of your arse realise you have been screwed over again with words and absolutely no action then maybe you and your shareholder action group would actually achieve something.
Napom, the cash they raised April and May is effectively 3 months cash.
I bet you we sink back to 0.05 before a flurry of activity converting more MNH and webinar and bright lights to a placing July/August.
I bet you this repeats all this year with no one from your shareholder action group saying cut salaries till you achieve something.
Matt so you're assuming something without basing it on facts. Circum shares are used to guarantee the loan if you bother to read the RNS.
Napom, PREM is losing approx. $1.7m a year so we can safely assume that cash is being spent at a rate of $140k per month
PREM shareholders have no option but to agree otherwise its default.
Napom, do not skirt around throwing Regency mining terms at me when they have other conversions most noticeably to 3 shark investment firms for $290k.
RNS states:
The Investment Agreement is subject to normal events of default and the Company has provided a number of standard warranties and undertakings. The Investment Agreement is secured over 290,000 shares of Circum Minerals Limited held by Premier.
@Napom, "PREM going bust is simply not true".
If the share ceiling is not raised at the SGM, what alternative is there? I don't see one.
GR is quite literally holding us shareholders to ransom. Yet another example of his disdain for shareholders and failure to add any value to this company for years. His credibility is shot IMO, both with shareholders, and the market generally. This does not bode well.
I will ask again, if you were the ZiM Govt with strategic plans for your country relating to mining income, would you grant an EPO covering a very large area to an individual with a track record of delivering absolutely nothing for years?
It's a very simple answer.
Are you suggesting now Matt. Thought you were basing it on facts.
Matt - how do u know that prem already spent their cash?
Napom its no lie your not exactly smart are you.
They have to approve the SGM or PREM has to repay $200000 back to senior management and $290000 back to those 3 investment groups i.e they are bloody well bust. Jesus Christ do you need coffee to wake up?
I would suggest up to $290000 of shares have already been sold by those 3 investment groups.
I would suggest MNH will dump $700000 post SGM, with possibly the other 2 groups dumping a further $500000 of shares.
why would i lie its obvious to a blind man what will happen.
Thought the loans were guaranteed by circum shares in case of default. Prem going bust is simply not true. Again another post telling us porkies again.
Napom-has no one ever taught you to read? I think you’ll find on the 1st or May I said I believe the share price will hit .3, like I have said many times, and that is what I still think.
Why can’t any of you have a proper conversation, if someone doesn’t agree with your view doesn’t mean they are deramping. You get an idea in your head, then try to bend facts to suit your agenda.
Constantly embarrassing yourself.
Napom, shareholders have no choice but to say yes otherwise PREM is bust owing $790000 in 3 conversion placings they signed and PREM already spent most of this cash.
You said
"$1.49m worth of shares will be sold between now and post SGM"
Are you telling us porkies?
But you said shares will be sold now before the SGM? Before the shareholders make the decision.
Napom, where is their TR1 holding for every MNH share they converted into PREM shares, simple there is none they dumped the shares.
D-Beta One EQ, Ltd ("D-Beta"), YA II PN, Ltd ("YA") and Riverfort Global Opportunities PCC Limited are the same bunch of professional investors who dragged down PREM shares in the past. They borrow stock and forward sell, convert at a later date. They would have been selling.
The rest will be dumped just like MNH management dumped their last PREM shares between now and post SGM.
If they didnt dump their shares for cash where is their TR1 holding?
Where does it say in any RNS that MNH will dump prem shares?
Matt, Where does it say it will be sold now before the SGM?
its why all of this recent share price spike is just like the previous one cos of placings, a classic pump and dump.
However, this one is much more larger as $1.49m worth of shares will be sold between now and post SGM.
Once they are out of the way we'll have another frenzy 3 months down the line before another placing and more conversion of MNH.
Steven he cant hold off the SGM. He signed off on approving placings 9th April $200000 and 7th May for $290000 (cant convert till June). Also the $300000 agreement with Regency Mining to convert into shares.
D-Beta One EQ, Ltd ("D-Beta"), YA II PN, Ltd ("YA") and Riverfort Global Opportunities PCC Limited probably sold out a lot of their stake on the recent spike as they can borrow shares to cover sales.
The SGM needs to happen to satisfy all of this plus the $700000 MNH shares which will be dumped post SGM.
One of the worrying things is while MNH have been given shares they must have been selling as their was never any TR1 notification.