Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Johnnypc
I wouldn't call Snowking a charlatan, he is a large holder, potentially one of the largest and not far off the 3% threshold. His posts over the last few months have focussed too much on what the big picture could be in a few years time rather than on the steps needed to get PREM to that point.
The bigger picture on PREM has always been rosy. Unfortunately for longer term shareholders this rosiness has not been reflected in share price and we are now in a situation where all our eggs are effectively in one basket - Zulu.
So, in my opinion, the focus needs to be on the short term plan and actual delivery rather than looking 2 years down the road to completion of DFS because at the rate we are going there's no way the DFS will be completed in 2 years.
Bickmaster
Steward - If snowking has a hotline to GR, then it is at best ineffective. I wish it wasn't the case, but all the evidence suggests that snowking is a charlatan. If snowking is genuine, then I apologise - but s/he has to understand why I and others think this way.
With this phase of Zulu, PREM enters into a different league and GR just isn't the man to head this up. I had hoped that Goozee and/or the Pandora group and others would have forced a change by now but hey ho! There is another who has been in the shadows around PREM for a long, long time and I reckon that he'll want to muscle in but I don't think that GR is on best terms with him (which might not be a bad thing).
Anyway, having advised us all that the 2nd rig and the lab should be on site, it's not unreasonable to expect confirmation of that in a reasonable timescale.
Snowking has a hotline to GR and it's concerning that he's not been posting much this week!
bootieone
Some pertinent points but PREM have cash and have the ability to raise more cash so I don't concur with everything you've said in your post. The provision of the $100k loan to MNH doesn't help. We all know the loan will never be paid back but instead will exchanged for equity. My worry is that GR is lining up a deal to take more MNH. For me that would be the last straw. All resources need to be focussed on Zulu EPO as that's where the value for shareholders is. Similarly with RHA, close the gates and come back in 2 years when the DFS is finished, no point burning money or effort on it now.
Bickmaster
Contractors work on small margins. They will only deploy their valuable rigs and equipment if they are paid upfront. Prem has little credit in the industry. GR has failed to secure investment from long term partners. It follows that he must now place stock with spread betters or bucket shops at a discount to the share price. Again. The choices are £1m at .16, £2m at .14 or £3m at .12. The DFS will cost about 10m. there will be regular placements to depress the share price. AIMHO
Part of the reason I've pulled out for now... Didn't have much in it to begin with but pulled out for a small profit, watching the ticker closely to buy back in once this downward trend settles.
Was hoping for an RNS update to bring the SP price up a bit, but like you said, leadership doesn't seem to be in that much of a rush and it's probably time for change.
Couldn't agree more Bickmaster.
Getting beyond a joke now. DFS awarded months ago and we are practically nowhere. Comms are farcical. Prem looks so amateurish. No wonder SP is nosediving again.
This is the 8th time this month they've tweeted about the corporate presentation.
We need information on drilling rig mobilisation and DFS progress, not a rehash of information we already have.
The fact we have not been given any proof of the second rig mobilising would infer it hasn't been mobilised. We need more than 2 rigs on site to have any chance of pulling together a timely DFS. It would also reduce overhead costs per m drilled.
Unfortunately it looks like GR is content to plod on and draw his wages while being oblivious to the need to actually demonstrate progress. He has become used to failure over the past 8-9 years so it does not surprise me.
Time for new leadership here, GR is not the right person to take this forward.
Bickmaster
Latest Tweet from Prem:
https://twitter.com/Premafrimin/status/1421021511478128644
Presentation Download: buff.ly/36BKval