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It doesn’t look good for any positive news this month , I’m not surprised it is becoming the norm .
George have the decency to update us all please !!
My gut made me - GR rabbit + hat = £££££! IMHO DYOR
Luthee, agree he doesn't care about occasional delays, problem is those occasional delays have all run into one big delay of over a year. He lost his patience just prior to force majeure and it's no doubt wearing very thin right now.
This must be down to the wire, hence no update as of yet.... Close call by GR, AGAIN
Https://www.forbes.com/profile/pei-zhenhua-1/?sh=5c6e1a1a728a
Pei - a billionaire and major shareholder of Canmax - will play his cards close to his chest, and needs all the spodumene he can get for his numerous worldwide businesses.
Pei is happy to play a waiting game and isn't concerned about occasional delays - unlike the warriors!
🙂
I second that can we have an update please , it’s not to much to ask !!!
Come on George, it's time you gave us some solid information on how things are progressing 🤬
For whatever reason, assuming GR continue failing in delivering the agreed quantities, I cannot see why CanMax wouldn’t use the money they will be owed next year, to take full control of the mine.
I would consider CanMax an extremely poorly run Chinese company if they do not leverage their financial position in Prem to their advantage. Prem isn’t a value add in other than getting the mine producing, and well….. we all know how that’s working out.
Great - raim!!
🥱
Most of my watchlist is Blue today - be nice if PREM could join them...
As I understand it all forward credit must be repaid by 01/04/2025.
For whatever reason I cannot see Zulu clearing the books by the time agreed, however I can see Canmax extending the period of settlement maybe for another 12/24 months, and by doing so Zulu will offer more attractive discount rates.
Any new agreement may involve the EPO region.
If Canmax wants Zulu spodumene, there are options available to both sides.
Acker
Nelly, it is obvs NOT debt YET on the PREM books but is money received in exchange of delivery of product. If the agreed delivery is missed, CanMax have several options, one asking for the prepayment to be returned. Assuming PREM can’t do that, I reckon most people will agree it then becomes debt….
I have no idea of how many delivery targets have already been missed, but can’t see any way PREM will ever catch up, even if plant reaches nameplate capacity.
I reckon another GR presentation is imminent, explaining the new probs, and I will go out on a limp and predict the key cause of delays is variation on ore material being wider than plant can handle of agreed parameters/tolerances, which I (by the way) think is what Stark has already told GR is the reason of all the probs.
It's NOT additional debt Jaglith. It's an amount of the prepayment that has become liable to be repaid.
Let's say for arguments sake the amount Canmax has paid (for product) is £35m. The amount that is liable to be repaid in the short-term is a portion of that number, so for example £10m instead of £7m of that £35m is now owed, due to late payment.
It's fundamentally not the same as adding £3m to the amount that has to be repaid, to make it £38m owed.
Nelly - this is the same sort of advice that prem got when they didnt want to pay china zenith. And then promptly lost the lawsuit file by china zenith. Canamx will just take prem to court. Prem is running out of road to hide.
It's not additional debt Jaglith. It's a further amount of the prepayment, that Canmax can demand if they choose to, under the revided prepayment agreement.
The debt is unchanged other than the accrued interest.
https://www.lse.co.uk/rns/PREM/offtake-and-prepayment-agreement-nztaaecscxjocyq.html
That's how you do it URAH
CanMax $3m closer in taking over….
Big week this week. Another 3 million in debt added to the existing debt for non delivery.
I bought more on friday to lower my average i wil never be swayed by the idiots on here i do what i want when i want simple.
luthee personally id just trust your own judgement theres a lot ****ging prem off on here like ive said before either your in or out if your not happy go cant be assed with the idiots on here that **** prem off daily like being back at primary school some times .
Difficult to know what to believe on here - from the warriors or elsewhere¡!
Here's the current/real situation:-
https://www.voxmarkets.co.uk/listings/LON/PREM/tweets/
Botuney…
Ffs delete this dividend announcements before Jaglith wakes up this morning !!
Botuney, the article was taken down (as you well know) since it was wholly incorrect shoddy journalism, the author named PREM rather than the intended company, Premier Miton Global Renewables Trust plc (PMI), but you know this to be true so indeed a shameless ramp.
https://markets.ft.com/data/announce/full?dockey=600-202404251007PR_NEWS_PRUKDSCL_0105-1#:~:text=Dividend%20Announcement,1.85%20pence%20per%20Ordinary%20Share.
No ramp m8
https://simplywall.st/stocks/gb/materials/aim-prem/premier-african-minerals-shares
Christ, that level of ramping will give Snowking and Deadeye a run for their money