Adrian Hargrave, CEO of SEEEN, explains how the Company is now funded through to profitability. Watch the video here.
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I will give credit for a good interview.
Talking about it and doing it can be very different.
Have been down this path so many times with George
The newbies are excited.
Acker
Traders always try to twist facts for a better sp entry that serves their own interests…
Yes I sympathise with them but to be quite frank I pity them too..
Lol
Current sp is a bargain…imo
Tomorrow will be a different day.
@hasiba
“ Traders always try to twist facts for a better sp entry that serves their own interests… “
In the case of PREM, George sharing his ‘good’ news is easily the best de-ramp.
As I am sure you are well aware, in the case of PREM there has been ‘a new lower entry point’ in every month over the last maybe 18 months, following a frequent series of mishaps and lack of successes, so not much point in deramping for lower entry.
I reckon most derampers are long in PREM, but have seen their equity erode alongside an abysmal performance by management, even by AIM standards, and understandably are angry…
Cingsing…
If you keep looking back you will never be able to see or think forwards..
The past has passed and we are moving forwards ,producing saleable spodumene and optimising towards better grades and volumes of production…
Sp currently is not reflecting the good progress and today many here didn’t see the RNS as a good progress.
I don’t see the relevance we keep mentioning the LTH here or newbies…as they are all holders now at a different entry of sp in different timeline…
I am confident that we are at a very good stage and moving in the right direction with good expertise on the ground to achieve the full success for the benefit of all…
I've been watching GR for a long time now and sometimes, it is only after the fact that one realises why he says certain things! I'd say that there were some things that were credible and reassuring from this interview. Absolutely, progress has been made and he was happy to talk about the issues at the plant and when they might be resolved. He responded to Mark's optimism a couple of times by explaining that things weren't quite as Mark had described. Positive... might even say very positive compared to a year ago when we got scant info about the issues.
However, he was back to his evasive old self when the subject turned to cash. And I'm wondering why he repeated, more than once, that there are plenty of buyers of spod out there. And he looked most agitated at the very end when he made his comments about the market response to the RNS and the market cap - no doubt he wants the sp higher or the next cash call.
I've got a niggle about this question - will Prem be shipping spod that Canmax are satisfied with and will accept before the end of June and that Prem will get 'paid for'?
Also thought the export licence was being dealt with a good while ago??
Steward…
GR said he was in Harare now to finalise the process to ship spodumene after obtaining approval. He obviously has a saleable material to ship and export and this where his priorities are..
Otherwise why would he be there!
Finalising the process - yes. But I don't think that he said that he actually had a shipment to make... and having saleable material is not the same as having material to the standard that Canmax will accept or pay for.
The RNS was pretty awful and did nothing but highlight the facts that the plant has lots of problems which will cost a lot of money to resolve. On the plus side they've produced some saleable product, not at the required grade but at least something they can sell which will help cover the opex, assuming he can get the export licence sorted that was only going to take about 3 weeks some months ago. GRs concept of time seems to be vastly different to everyone else's. As for the interview, it didn't reveal anything that the rns revealed, he's got some stuff in bags he hopes he can sell. He's got a plant with multiple problems, pretty much all of which he won't hold his hands up and admit he should have had oversight and known about them long long ago, especially the XRT which he clearly stated when the ore was tested XRT was clearly not the way to go as much better methods were available way back then. So in summary he's got bags of spod of inferior grade to sell, but no customers to sell them to as they're not the grade required by canmax and as it turns out no licence to actually export the stuff. The plant sorters don't work, the mill is contaminating the ore with iron that the magnet cannot remove (how on earth is it possible to have a magnet so lacking in power it cannot remove the iron which is only being introduced by the mill itself?), new pumps and a tank need to be installed with the groundworks "expected" to be completed in May, lots of "expect" and "believe" in the interview but no firm commitments, lots of evading answering what weren't difficult probing questions. You could see he's disappointed the market didn't react to the rns, the market understands that GR needs to raise and to raise soon
Agreed, surely no one falls for these classic GR plays anymore?
Raaydaar sums it up perfectly for me. It's six months behind where it should be but at least we have an engineering company that seems to know what they are doing. Doubt now is that by the time it's producing it'll be drowning it debt with a trillion billion shares in issues. And guess what, the Chinese will get their product and probably most of the company, George will get another year's salary and payoff, evatec will get paid. The people that own the company (us) will get diluted to f*** all. We can now stand back and watch this happen. Of course it could all get fixed and be £ at Christmas!!
Excellent t interview , should be blue tomorrow .
Producing and fixing problems and canmax supportive .