Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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ACKER…
“GR didn’t raise enough in the last EGM”
Perhaps he expected to produce enough SC6 in May to start shipping and we have enough cash until end of June ..
I believe GR would manage to produce enough SC6 this month to ship over next month .This will lead him to get further financing from outside sources or placing at much higher sp..
Just imo
Acker, GR did say that as soon as production start, he will take a bank loan so why only $5m headroom was needed.
If there was even a remote chance of sc5/6 being produced the price would have spiked. You can see info is ‘leaking’ to certain shareholders and if the price is not spiking that means Zulu is producing unsaleable product. Last year George also released some videos from the floatation circuit. Turns out it was talc
I just looked at the video again, towards the end of the clip at the spod floatation section, it looks like spodumene of some type is floating off the top, the view is under the grating. ????
also I think the video was recorded tuesday night so there should be a fair quantity of spodumene produced by now at a ROM feed rate of 50 tonnnes/hr???
"The required piping and valves are expected to load for site by Tuesday 16 April, and the expectation is that fitment could be complete as early as the week commencing 22 April 2024. A further update will be made in due course".
Where is the further update?
Bridgedogg1
Production is, of course, the ultimate goal, however, there is an intervention period where production revenue will not be sufficient to "self-finance" operations.
Until sufficient revenue can be generated the CEO will, IMO, have to plug a hole in the region of £5m
Acker
It’s definitely a mess but getting production up and running has to be the first step in sorting it out. Everyday it’s not we are accumulating more debt to Camnex, that why I see yesterdays video as good news. We are already priced in with the debt.
IMO George didn't raise enough at the last EGM.
Prem should have raised £10 m minimum.
Acker
Even roach isn't daft enough to run through the shares without paying the loans back. So he must be expecting us to be in production very soon. The lack of communication since the new pipes arrived scares me though
George has been hoping for the past year.
Should Prem start production in May, insufficient revenue will be generated to solve the situation.
The market is well aware that any rise in Sp will be met with further dilution, the share price is literally chained to the company debts.
As mentioned previously, I estimate that Premier will require a further £5/6 million to straighten the books, which looks like a further EGM.
Acker
Mr N, of course he is hoping that, the question is if the plant can deliver it. At least it seems to be running, there's still hope I guess
Acker, surely he's hoping he can get to some sort of regular production so that he can pay off the debt with less shares. I can only imagine that's why he hasn't paid yet. Which must mean we are nearly there 🤞
Amen to that Acker!
There will be no sustained rise in the SP until the accumulating debt is under control.
I am rather sickened by the whole situation; the CEO came cap in hand to shareholders for money specifically to clear certain named creditors, has this been done?
It is now the 3rd of May and as far as I can ascertain the named debts remain in the book, I cannot find any confirmation that Goddard has been paid or the fees for the failed court case.
I did not vote "yes" for Premier to use funds for "general working capital".
I was hoping that all this would be cleared up, however, we are still facing the situation of ever-increasing debt, no source of revenue, running low on funds and being unable to call upon third-party finance.
It is one bloody mess.
Acker
We have been shown bags before Mughal, I won't be happy until a RNS comes out with clear language stating the amount of salable product and the grade, also clearly stating that there are no contaminates just to be sure. At the end of the day we either sell and take the hit or hang on and hope he gets this over the line before the money runs out.
That’s the big if that hopefully George can give us 🤞
It's very interesting how constant delays, lies, missed deadlines, debts, increases, 12-month warnings, etc. suddenly turn into a big, happy celebration. Nothing official has come from PREM yet and we should wait and see what comes in writing.
I think the only way share will move up now if George can show share holders bags of spodumene at grade SC6!!!
Great post Bridgedogg1 , we've all been round the block with this share , lots of us including myself wished we had sold at 1p but we didn't.
Onwards and upwards !
Just waiting for the required fund raise. Then might buy in.
Party just started
If you don't believe in the share anymore, sell up and move on.
No one trusts George anymore. I’m sure even the nomad is fed up.
More reraking of old news.....
Personally I've been warning about Prem for 12 months. The constant delays, lies, missed deadlines, debt, raisings etc. Its all a nightmare. But the last placing seems to be enough to now get the plant operational and producing SC6.. This is the key turning point, and while it seems like there have been a lot of those I've never bought into them before. The idea that 'this time its different' - we have new contractors on site, we have been told what needs changing, have seen the equipment arrive and now seen the plant up and running. The share price is at a 3 year low and very little of what is posted on here impacts that. 95% of those on this board are either already holders or lost out and bitter on prior share price performance (or both). I hope holders, including myself can see the value being realised here and maintained upwards trajectory.