George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Thanks Tedoby for the informative post. An RNS could indeed drop anytime.
Thanks tedoboy for your informative and detailed post, most here know that once epo announced it will be a game changer!
Appreciate the information. Thank you.
#PREM twitter buzzing at the moment
The Government's Gazette is used to announce acts or statutory instruments by the president and cabinet. The Gazette itself is the official Government newspaper of record for all legal and regulatory announcements.
Any communication or announcements sent to the Government's Gazette have to have been signed off by the OPC (Office of the president & Cabinet) (OPC). Communication from the OPC is tightly controlled and mining is a sensitive area because of the politics involved, anti-corruption push and international relations with other countries.
There is light at the end of the tunnel on the current batch of EPO Applications and the result of Prems EPO Application could be RNS'd any time now . The Government's Gazette runs with a backlog on announcements but I'm in no doubt the MoM (Minister of Mines) will know exactly when the results will be published.
The EPO Applications are dealt with in a regulatory process having 7 key stages. I believe Prem is one of forty or more Applications being dealt with all of which are now at key stage 7 - the last one.
Attached is a "copy and paste" of key stages 6 & 7 of the process. Stage 7 calls for the results of the Applications to be SENT for Gazettal. Emphasis on "sent".
Inter alia it specifically does not call for the results to be PUBLISHED in the Gazette before the Applicants are formally sent the results (Approved Order).
Indeed the MoM would want all Applicants to be informed simultaneously by his Ministry and the results then published in the Gazettes to notify its wider audience simply as confirmation:-
6. Application recommendation and Approval Assigns EPO No. eg 4886….
General Notice sent to the Minister and then to President for APPROVAL or REJECTION.
7. EPO Gazettal Approved General Notice sent for Gazettal.
Approved Order sent to Applicant.
AIMHO and as I say Prems Approved Order could be RNS'd any time now.
Or maybe not and we will have to wait another 5 months
That's what I mean, RNS could land within next 48 hrs
It also says it will be RNS'd BEFORE the gazette - that is what we're waiting for, not the gazette.
Someone doing their home work and chased the Gazette up .
https://twitter.com/hashtag/PREM?src=hashtag_click
DanT
Confirmed that there is a bit of a backlog on Gazette printing and publishing. #Prem's sent 2 weeks ago so moving up the queue
News to land any day now GLA
the next gazette is only 3 days away...
Zulu EPO - we've been told that's been submitted and sent to printers by Zimbabwe Govt.....it's Zimbabwe lets hope it this week. It's significant because the land around 200km2 holds a number of minerals including gold, lithium, tantalum.
PREM at moment holds just 3.5km2 of measured Lithium.
The EPO in itself should re-rate the Zulu part of PREM significantly given it will be 57 times Zulu.
Given PREM announced they had the money to satisfy EPO (There is possibly a JV already in place)
RHA - GR had meeting with NIEEF yesterday to discuss the shortfall in electric costs which he has been told NIEEF will pay.
Given NIEEF want to keep their 51% stake we should see additional monies come in over the next month or 2 (its Zimbabwe expect delays).
Import licences for the plant equipment re RNS 28/01 have been submitted.
We should see an update on this by end of month/first week in March.
Once import clearance is in place PREM can process the tailings and open mine with the plant machinery.
We should have news on production within the next month IMO.
Circum - In the recent interview he has stated he should hear liquidity news within the next 2 weeks.
It's out of his hands and i expect further delaystill Stephen Dattels decides how he is going to proceed with Circum.
Once the Circum liquidity event is in place it will still take a few months or so for PREM to get this money.
MNH - I expect part of the money NIEEF provide PREM will be utilised to purchase more of MNH.
I suggested by email to GR to create a vanilla bond instrument to purchase a cash proportion of MNH and to RTO the rest of MNH with additional PREM shares.
I have no issue with further dilution if its used to bring MNH fully into PREM as we would have forward revenue of $80m per year.
However PREM achieve it I expect MNH to fully RTO into PREM by the end of this year as both parties want to achieve this.