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SK - I do sincerely want Prem to keep hold of as much of Zulu as possible for as long as possible but I'm doubtful that any serious partner will agree to that because GR would still be at the helm. Any partnership will signal GR's departure.
I wouldn't be surprised if the next load of shares to be issued goes to one of the potential partners.
SK--I think you are being a little naive regarding Zulu & CEO.
Prem is operating in one of the worlds most corrupt countries,you and any other shareholder would not be privy to what is really happening.
George is just smoke-screening shareholders,the power and the money will be within the cartel.
Acker
Evening SK
Didn’t GR say he would not the build the mine in London?
Prem are exploration and surely the last thing anyone wants to hear is that Premier is going to build the mine ...
I wouldn’t trust him to dig a 6foot grave let alone a lithium mine ...
You never know he may be studying an on line mine building course via open university !
Acker , nonsesne nothign has been sold , the list of companies are only at the DD sage andf it wil ltake a week or two for offers to come in , George is plannign to build the mine and retain as much as we can and give as little away as possible. i want at leat 80% of a mine producing £100ms a year not give away 50% now or as you say 100% . Those asking for a full 505 jv now dont understand how much monewy is to be made havign a mien producing Spodumene at current price $2260 a tonne
bickmaster he says the majority of drilling is doen , that is in my mind > 50% . you may want to listen to interview again .
You could be right acker.. then again you could be wrong... the mine will be open pit and the product will be brought to the plant for prosesing regardless of how big the resource is.
Wolf- i'm not suggesting anything.
IMO the Zulu mine has already been sold,subject to a swingeing list of conditions.
All this talk about other interested parties is often used by Mr Roach,utter rubbish.
Still believe Zulu will be taken out of Prem,makes commercial sense to me.
We should all do well from our investment-
Acker
Acker, I would expect any JV agreement to allow for continuing the expansion of the resource... Are you suggesting GR should take 2-3 years to complete the DFS then build the biggest mine the world has ever seen?
steward1--I haven't a bloody clue what is going on.
Acker
Wolf - GR's strategy and communication are as clear as mud! It is now very unclear about what area this DFS is going to cover.
Shareholders have given him the headroom to deliver but he seems simply incapable of having a clear plan in the first place and then delivering on that plan.
Absolutely correct Welshy, I for one no longer trust a word that SK says, bit of a worm-tongue if you ask me.
Wolf--are you suggesting that Prem will produce multiple DFS's and build more than one mine.
If this is so do you envisage one jv agreement or an agreement attached to each DFS/mine.
Acker
If we weren’t so greedy I’m sure 90% would bail on this Share..
Unfortunately we still have that carrot dangling in front of us .
The official results and next RNS could be a key point in market confidence going into 2022.
It’s high risk with a potential high reward...
I wish others on Pandora group would chip in instead of SK having to be the voice of the group..,
Give him a rest from the slating he gets
Back to 0.18 this week I think
GLTA
The realisation that we are all being played by George and his cronies is real .
Probably going to show my naivety but I am surprised that he is aloud to behave in the manner he is and is not accountable for his lack of communication/ progress .
I hope I am wrong but my gut tells me otherwise!
Steward, the two pits have now merged into one, it makes complete sense to complete the DFS in that area and progress to building a mine asap.... it's no good saying you have the largest deposit of lithium in the world if it's going to take 2-3 years to complete the DFS before you even start building a mine... GR said in his last interview when the DFS is completed the drilling and core sampling will continue.
Wolf
Snowking et al being played as usual. Then passing the games on to the rest of us.
I still think from these levels we will make a reasonable profit - else I'd have sold up and bailed. Nowhere near the 10+ bag Snowking is still on about and I too was hoping for when EPO was awarded. Pure speculation. but I can't help feeling GR just wants to retire soon with his shares worth a little more than they are now. Zulu is gonna be sold soon on the cheap IMO and some other lucky company will make the majority of the profits here.
Good post Bickmaster.
It's all beginning to feel a bit seedy... lack of being candid, dodgy deals for his mates, doing the DFS on the cheap, leaking info to the Pandora group, moving the goalposts... not what you would expect from potentially the largest Li deposit in the world!
Snowking,
At no point in the interview did GR say that drilling is more than 50% done so what you've posted below is simply just not true.
The interview shows GR himself doesn't know how much he needs to drill. What is actually happening is he is reducing the amount of drilling because he doesn't have a hope in hell of getting DFS through before mid-late 2023 without focussing on a smaller area. This is disappointing but he wasted 6 months and this is the result.
As for the rest of your post below, it is simply more jam tomorrow with the rose tinted spectacles.
My fingers are crossed the results from the first 5 holes will be very good which should push SP back to 0.25p range. If it was another company the SP would do much more but people know GR and know there will be a placing on the way. For the avoidance of doubt, I welcome a placing as it demonstrates money is being spent and the DFS is progressing. Indeed I am surprised there wasn't a placing in early to mid November.
Bigger issue is the uncertainty around MNH. We need to remember GR used PREM money to pay his buddy's costs at Circum for a few years. And he is doing the same at MNH at the moment. Never mind TCT and the hunting lodge. If PREM was able to get rid of its 19% in MNH in the morning, even at a significant loss, I would support it as it removes the uncertainty. Until we have clarity on MNH the risk of shareholders being shafted one more time remains.
Bickmaster
bickmaster , drilling is over 50% done was told to us in the interview given last week
Prem dont need much more to complete the DFS , guys just waite and see , lots and lots is happening , you dont see it because we cant see what is going on in the back ground . the work to complete a dfs IS massive but it is all happening .
Dont blind yourselfs by past failures. if you do then you wil lfai lto get ten bagger companies , you need to see where this is goign and not think we are not getting there , just because of past failures and because the share price is not going up.
where do you think we will be in a few weeks or months or so with a bigger resource of 40 or 60 mts , JV deal and potential off take deal and cash to do anything. i can tell you we will not be at .1925p .
Snowking,
Every time I read one of your posts it makes me wonder whether you've taken any notice of PREM's numerous failures over the past 6-7 years. You finish your post below with 'now is a walk in the park'. You also say 'forget RHA and MNH they are side shows'. I wish we could forget them but we can't with GR at the helm. MNH and a complex deal with his ole buddies from Uramin, in my mind, is what we will get next. It is exactly what PREM does not need. All focus needs to be on Zulu.
You state below. "8. May hav drilled over 50% of what is needed to complete the DFS". What underpinning do you have for this?
At current SP PREM has the ability to raise approx £6.5 - £7m via placings. Commercially, if there is significant interest from the market, the attractiveness of doing a JV with one of those parties reduces substantially, as the JV company becomes party to information which gives them an advantage over the others. They may also seek some form of exclusivity. The end result of this is it diminishes competition at a later stage when the bigger deal needs to be done.
So I think GR should have a number of placings to get the DFS to a well developed stage.
Bickmaster
We have a double whammy holding back the sp at the mo, The omicron virus with all its uncertainty... and GRs comment about MNH.
GR, should at the very least RNS his intention regards MNH.
wolf
spelling should say £200m a year profit
guys , we dotn want a big JV just yet , you dotn want to give 50% away of Zulu . it makes no sense , why give say 50% away for saying please build me a mine for say £60m , then when we are making profits of say £20mm a year the company who took the 50% at 360m will get them money back many times over .
Before i forget what a great post Alert
This is the strategy PREM are going for
1. Drilling two step out zones and new south east zone : visual results look very good
2. by waiting to talk to other companies rather than do this in March , the potential deals are better.
3, Due diligence visits having already started
4. Discuss with several companies offers to complete DFS and maybe give away 10-20% only of PREM
5. Await assay results and then rns increased resources , started in stages .
6. Proablably after xmas serious discussions on design of mine , one big pit or two .
7. COO , George already said in London the person(s) who he wants cant start till Dec/January .
8. May hav drilled over 50% of what is needed to complete the DFS
9. Soon in 2022 i expect discussions with offtakers to conclude , they ahve already happening .
10. PLan will be to retain 80% of Zulu and offtaker to pay for mine build.
This is what i believeis the plan .
George gets criticised for not appearing to do enough , but by waiting till now ,we are all going to benefit a lot.
we have been here suffering for 3-5 years , some more , but we are in such a brilliant position ,we need a little patience and we will see all this unfold.
forget RHA and MNH they are side shows .
what really matters is in short term is assay results and then spodumen price to hold up , until we get an offtake deal .
we have an amazing 2022 coming up and look where we sit now compared to this time last year .
If you were invested a year ago with the risk , then now is a walk in the park
Profit , hope he don't mess it up but its not moving quick enough and selling /jv now may slow us up as the goalpost will keep moving i hope as time moves on this should have been done at the start pre EPO and ready with enough money on the table to progress a a production pace not now
I agree with you all, shocking how the market has reacted to the last 3 pieces of news, considering 2 of those were, to me, fairly positive and informative.
But I am certain that news of JVs, international big names etc. will push this up.
I am not 100% sure about the whole "once GR is out we will fly" discussion. He never respects his timelines, he is a poor communicator and tends to start a project and not finish it. But Zulu is too big and rich for even GR to mess up imo.
Hope I don't choke on these words in 6 months time LOL!