George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Snowking,
I’d be delighted if I didn’t have to highlight GR’s poor performance.
Also worth remembering I am generally correct.
Bickmaster
Steward , ok let’s think forward and agree prem not to giveanything away . But the deal of £12 m set prem up for funding to build a mine . So I expect what ever mine prem builds it will be without giving away any of Zulu or any shares and I hope it will be a game changer. But it is not a walk in the park to plan a mine build . It is complex and takes time . But I think prem is going to become a much bigger company .
Soon bickmaster won’t have anything to moan about
Snowking, with respect... you don't get me and you still don't get that giving away 13% of Prem for £12m was a poor deal but let's not go over old arguments.
GR should debt-fund the building of the mini-mine - there must be lenders out there who would be happy to lend Prem $25m for a mine which will deliver £m's of profit within months. He should absolutely avoid giving away anything of Prem or Zulu.
Steward I don’t get you , you say George should not give any more of prem away , but what way do you think he could have raised £12 m any better . What is it you think you can suggest which is better than holding 100% of Zulu and raising money at a premium , someth8ng no other company could do in the last 12 months .
And how would you suggest George should raise some money to build a $25 m mini mine .
Anglebox788 - thanks. There was mention of an interest free loan from Suzhou which would obviously have to be paid back. Seems a bit far-fetched that they would be so generous but, perhaps, they get the remaining 50% offtake at a discounted rate? GR should avoid giving anymore of Prem away.
This is one of the difficulties of going down the pilot mine route... would there be enough evidence of what's in the ground for GR to say, if Suzhou wanted more of Prem, no thanks, we'll go elsewhere.
As SK says, it might not be a major issue in the whole scheme of things but the market might not like more of Prem being given away.
Romanwolf , i fully agree , coms has to get better and i am leaning on prem , but i hope the reason why it has been quiet is something big to blow , but time is for delivery no doubt.
Nice considered reply Steward, I’m hoping that , if Shouzou do find the mine, any additional funding would come on commercial loan terms be it with an industry commercial lender or Shouzou, rather than further dilution, hopefully we’re getting closer to a plan, but like many/most on here I’m steeling myself for disappointment, please George just once……
I agree Steward, they will want more pie to finance it. I doubt we will ever know what the other offers were but I imagine the one chosen kept GR in his seat the longest.
Once the RNS happens I'll hopefully rest a little easier and not have to second guess everything. I'm all for positivity but it's delivery time, facts, the info we constantly expect to finally hit an RNS, rather than relying on SK many interpretations and predictions. As hopeful as I am your current prediction is the one that's right I'll expect a disappointing RNS in comparison to what I want it to be. Then my feet are held on the ground
Steward you are correct Suzhou will get a dividend when one comes along . But who really cares becaise to get to that stage shares will have multi bagged and many shareholders will by then have life changing amounts of money
Snowking - first of all, I'm hoping for some very good news next week. Given that the deal was done with Suzhou, I'm pleased, very pleased that the pilot mine approach looks like it's going to happen.
However, I'm sticking by my guns and I'll state again that the deal wasn't the best deal. Your comment that Zulu will keep any profit and Suzhou will get nothing is so naive and I'm wondering if you know anything about shares at all. Prem own Zulu and that profit will find its way on to Prem's books and some of that profit, at least, should be converted into dividend for Prem holders. Since Suzhou hold 13% of Prem, they'll get 13% of that dividend. Not only that, Suzhou will benefit from any other dividend in years to come from any other mine that Prem decides to build. It is completely misleading to suggest that Suzhou don't get any profit because Prem own 100% of Zulu!
I'm very much looking forward to next week but I still have a slight niggle that GR is not going to get the mine built without giving up something else.
Zak mire looking at Prem charts, saying initial price rise to .38/9 then back up to the Feb price of .5.
All looking very good here.
Happy to have bought a few million more at the .27/8 price last week.
Plenty to look forward to, Prem and Zulu is finally going to come good.
Profit ,I hope we get all that next week . I don’t think prem are in talks with others . Suzhou look very good as a partner and I hope they put up the money for a mine . They want spodumene and Zulu hold a **** load .
I will pass on your wish list to Prem and will get back to you with a response .
SK, besides more frequent news, proper progress updates, lab results, better comms, an agreed and documented way forward, a mini mine development plan and the ability to sign agreements also with other investors besides Suzhou? Not much else that I wanted, just curious to hear if PREM is still in talks with others or has settled in with Suzhou for now as you alluded to.
Profit bags , what more was it you wanted
Wait, GR was meant to attend the Investing in Africa Mining Indaba conference in Cape Town, 10 days ago....how did that go? did he pitch to a canadian institution while there?
Shiny ,
Prem own 100% zulu , no debate , no issue . If Zulu produce £100 m profit in a year then Suzhou receive zero and prem keep 100% .
Interesting, tell us more SK!
In the mean time, Global Lithium in AUS has been fast tracking their lithium exploration since Suzhou bought a stake and off take agreement nearly 3 months ago. Hope to hear plans to do something similar with PREM soon.
https://globallithium.com.au/
Dazed , which Canadian instistion did prem present to last week .
Time you come back down to Earth Snowking
Instistional buying
10.15am - 200m traded
WINS out stripping all on the bid. 4 MMs all scrapping for stock.