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😌🧐🥱🥱🥱🥱🥱🥱🥱
Implications of Short Selling
In the context of PREM, short selling can amplify the downward pressure on the stock price, contributing to the negative sentiment. This, combined with regular selling, creates a challenging environment for the stock to recover without significant positive catalysts or improved operational performance.
====Upcoming Milestones and Investor Expectations
--- Conditioner Arrival: Expected within four business days, followed by commissioning in 18 business days. Investors are watching closely to see if this timeline is met.
--- Potential Placements and EGM: Investors anticipate announcements regarding capital raising and potential extraordinary general meetings (EGMs) to authorize further share issuance.
Overall, the forum reflects a community of investors who are deeply concerned about the company's direction and financial health, tempered with a minority who hold on to cautious optimism about future production improvements.
AI Summary so far:
### Updated Sentiment and Overview of Premier African Minerals (PREM) Forum Discussions
The sentiment around Premier African Minerals (PREM) on the LSE forum is predominantly negative, with a mix of frustration, skepticism, and some optimism. Here are the key points derived from the recent posts:
### Key Concerns and Issues
1. **Plant Issues and Delays:**
- **Incomplete Civils:** The completion of the civil works, which is necessary for fitting the conditioner, is delayed. This was supposed to be done by June 10th to allow time for curing before the assembly.
- **Operational Delays:** There are ongoing issues at the Zulu plant that are not expected to be resolved quickly. This is exacerbating concerns among investors.
2. **Financial Concerns:**
- **Upcoming Placements:** There's a strong belief that the company will need to raise funds soon, likely through discounted placements. This will lead to share dilution, adding to the negative sentiment.
- **Debt Obligations:** The company has debts that need to be paid, adding financial strain and contributing to the need for further capital raising.
3. **Management and Leadership:**
- **Criticism of George Roach (GR):** Investors are frustrated with the CEO, George Roach, accusing him of mismanagement and poor communication. There are sarcastic comments about his visibility and effectiveness.
- **Transparency Issues:** Lack of clear and timely updates from management is a recurring theme, leading to distrust and skepticism about the company's future.
4. **Product Quality Doubts:**
- **SC6 Production Skepticism:** There is doubt that the plant will ever consistently produce Spodumene Concentrate 6 (SC6). Some investors believe the plant setup and mineral quality are insufficient to achieve the desired output.
### Positive Notes and Optimism
1. **Potential for Higher Spodumene Concentrate:**
- Some investors remain optimistic that once the issues are resolved, the production of SC6 or higher quality concentrate will significantly improve the company's financial situation.
2. **Support for Cash Call:**
- A few long-term investors express willingness to support another cash call if it means progressing the project and avoiding bankruptcy.
### General Sentiment Breakdown
- **Negative Sentiment:**
- Predominant concerns about financial stability and operational delays.
- Criticism and skepticism towards management, particularly the CEO.
- Fears of significant share dilution through upcoming placements.
- **Neutral to Positive Sentiment:**
- Optimism that once the operational issues are resolved, the company will produce higher-quality concentrate.
- Some investors willing to support further capital raising efforts if it ensures the project's continuation.
### Implications of Short Selling
In the context of PREM, short selling can amplify the downward pressure on the stock price, contributing to the
There will have to be a month of blue moons if you really think that anything approaching SC6 will be produced consistently by PREM with its Mickey Mouse wannabe pilot plant. Where is GR in any case apart from sitting around with his hi viz red top waiting for a stunning interview next week.?
Started: Metalbasher, 14 Jun 2024 13:35
Last post: Luthee, 15 Jun 2024 09:21
🤨🥱🥱🥱🥱
Old leather skin is about to hit PI's with yet another placing to fill the cracks made by his and starks complete ineptitude...
Why wouldn't you want to be holding these on Monday morning Mr Crystal Ball...?
Explain...
Wouldn't want to be holding these come Monday morning
Wish I never held them in the first place😁
Started: Luthee, 14 Jun 2024 15:14
Last post: Al4x, 14 Jun 2024 18:20
Same
Jumped on a couple of stocks I have seen talked about on these boards. Both failures. Just have to learn that this place is just nonsense and span.
The last 2 days have shown exactly what the market thinks of George’s work to date .
3 x as many buys as sells yet the Sp has dropped 14% over the last 2 days .
For George not to be putting out some sort of an update to firstly keep his loyal shareholders informed and to also to try to stop the Sp from dropping daily just shows his ignorance and contempt for most shareholders .
I have filtered a lot of derampers over the last 6 months but in hindsight they have been proven right in what they have been saying about George .
I wish I had listened and sold out months ago .
Including a 20m deal....
😉
Started: DazedandConfused, 14 Jun 2024 14:12
Last post: lloydyboy, 14 Jun 2024 14:59
Can't get a quote to buy annoyingly
If that's what daar thinks, the opposite will happen....😋
Topped up again .97 another couple of million
Dazedandconfused, I wouldn't hold out much hope of your 15 million purchase today being worth more by September, most likely a lot less after GR dilutes everyone a couple more times before the middle of July, and then a couple more before the end of August, all without producing any SC6.
Lucky he1 offsets my buy yesterday here. Not sweating tho.
Started: Jaglith, 14 Jun 2024 08:38
Last post: Luthee, 14 Jun 2024 14:06
There's an awful lot of us mad people buying Prem then....🤪🤑
It's certainly not a bargain.
Anyone buying now would be mad.
I mean even after a placing I think you'd be mad to buy.. But now? Just no!
Dazed, it's not a bargain it will continue to drop as the market is fully aware that a discounted raise is imminent, rapidly followed by an EGM, rapidly followed by the issuing of over a billion shares to China Zenith and then another discounted capital raise. All the while the SP will continue to fall as those many billions of shares are flipped to the rose tinted spectacle wearers who cannot see what's happening. The agreed Zulu valuation is purely a paperwork exercise for the long stop date. If PREM don't survive that long then it's value will be far less as a distressed asset when settling with creditors.
Hey kids go back to school billy idiot
It’s not a bargain it’s a money pit and it’s in free fall with a placing looming…
Started: BillyBob99, 14 Jun 2024 13:05
Last post: Metalbasher, 14 Jun 2024 13:31
Are you the accountant?
Metalbasher, THEY HAVE NO MONEY…..
Who said anything about a raise anyway? Plant is shut operating cost nill raise last month to pay outstanding bills so sit tight and wait. You’ve all talked yourself s into a raise
Probably raise at 0.05
Will they even be able to raise cash at this 0.095p??
The next RNS is going to be possibly the most important 1 for years.
I'm surprised they didn't raise at 0.10p when it was 0.12p last week
I'm wary over 50 percent sure prem is dead and shareholders will be wiped out
Absolutely worth nothing ,no one interested in taking GEORGE up.on next raise just a matter of days now
Yes
Very few - with the amount of buying going on!!
Does anyone actually believe Prem shares could end up like COPL shares ie worthless
Started: Luthee, 14 Jun 2024 09:20
Last post: Jaglith, 14 Jun 2024 12:02
He could have also invested in Apple. This is not a cross ramp. Just friendly advice that keeping the Circum shares is another poor decision by George. he could have sold the shares last month, invested in Apple and already made 30%.
Yes well done Jaglith we know you are in Boil.
Careful on the cross ramps though.
Wow metal. Totally missing the point. It means nothing if you put your money in a crappy lifestyle lith company (unlike kod). Your bank balance has a big shock coming but best of luck
LOL GR must be waiting for the 0.04/0.05p to buy in again like last time... unbelievable we are at these levels but then again not surprised... murphy's law at its finest here...
0.02p puts the MCAP at around £6m which I think is about right for where Prem is right now.
Started: JerseyCrew, 14 Jun 2024 08:22
Last post: JerseyCrew, 14 Jun 2024 10:39
Supersport - given enough shareholder support an EGM could be held on his position. I will not have a voice as I sold out months ago. It would need a few large holders to create the 5% required to call for the meeting. I am not advocating as I don't have a vested interest - just pointing out the due process.
JersyCrew you don't get it ,this was asked of him 7 years ago the man is a trickster
I have been burned here a few times, looking more at the potential of the resource rather than the capability of the management team to deliver on the development.
Why doesn't GR at this point step aside for someone who has the expertise to deliver? He can keep his shareholding and reap the rewards. As long as he is in place I am reluctant to go near the fire again.
Started: BillyBob99, 12 Jun 2024 16:39
Last post: BillyBob99, 14 Jun 2024 10:22
There we have it, 0.20, now watch this freefall…. Told u not to keep buying, this is now going to tank further.
Surely buying now is good reward
Hi Jaglith 137 posts in the last month and all but one about PREM..don't you think you might be a little obsessed
Conditioning equipment a week away now not long till RNS hopefully keep your chins up
How many of you still here from the last couple of years when we were over on the kod board telling you that you were In the wrong lith miner and getting a lot of abuse for saying so???
Hopefully get an update from George today regarding progress 🤞
Even they have run out of things to bicker about without any ‘news’ from GR or even a social media photo releases. The long term holders are also getting weary of the constant down trodden outlook, come on PD101, give us one of your rallying posts to make us all smile - or laugh .
The children are late this morning.
Acker
Started: BillyBob99, 13 Jun 2024 17:11
Last post: BillyBob99, 13 Jun 2024 23:52
It was a sell get over it.
Absolutely correct. Just jobless keyboard warriors - typing rubbish daily. Even at night!; sad people(s).
1- Nobody to talk to; 2- Google something; 3-Post what's being said; 4-Insult and argue.....
😐
Hang on billybob, you're not doing so bad yourself with 103 posts in the last month and only 4 not Prem...you, Jaglith, Raaydaar, Martiningirl all beyond obsessed with a share none of you hold...wonder why or are you all the same person I wonder...well you've not persuaded me that's for sure..1 week till the conditioner is installed...I'd close that short if I was you
Probably a buy bid was 10.60 at 4 o’clock
Looks like a sell to me…..
Started: pjmcgra, 13 Jun 2024 20:19
Last post: Redandy59, 13 Jun 2024 22:21
The Sp can be manipulated negatively when there is very little belief that George will deliver .
Further dilution and a lot of shareholders loosing a lot more money.
Perhaps the ones buying have been given a heads up on some form of imminent good news 🤞🤞
Huge difference in buying than selling ,this should be blue , frustrating
PJ
Started: DrAim, 13 Jun 2024 18:10
Last post: DrAim, 13 Jun 2024 18:10
What's he dreaming up now for long suffering pi's...
Started: Whywastetime, 13 Jun 2024 12:03
Last post: Botuney, 13 Jun 2024 18:07
50m buy - near the close!
More buying tomorrow.....
🤗
Finishing on a day low doesn’t bear well for tomorrow!!
Remains strong - there's a good feeling in the market about this investment......
😚
A lot of the markets are down today ,elections loo ming, banks are shoring up their defences.
Money is tight all over . Imho
U can’t assume they are buys just because LSE prints them in blue.
Started: Jaglith, 13 Jun 2024 12:00
Last post: Jaglith, 13 Jun 2024 12:00
On April 11th PREM raised 2 million plus 300k in a bank loan. On April 12th it raised another 1 million. By May 21st all that money was gone and PREM had to raise another 1.25 million plus giving Goddard another 2 million in shares. So PREM's cash burn rate is around 3 million a month with zero production. That means PREM will need an additional 3 million this month. But it doesn't have the cap space to do that. So the EGM is 100% guaranteed. Maybe George is waiting to announce the EGM on a Friday afterhours RNS?
Last year George boldly announced, after the accounts, that it was the last time the accounts would show nil revenue. Well guess what, here we are again, 1 whole year later hugely diluted, share price on its a**e and GR still being economical with anything approximating to the truth, unless you’re one of the inner circle getting the facts way before the embroidered version is released to the peasant private investors. On the plus side the sun is shining in East Yorkshire for a change so not all bad🙂
Maybe George forgot to order the conditioner tank?
What an absolute mess you have created George !!
As long as he gets them out on time 😨
Indeed, even though i would not be surprised to see a delay in the report release with a share suspension as it happened in the past. It might actually be in GR's favour to delay and buy some time (if things are not going as planned). If things are on track, i'm expecting a general status update RNS this week or early next week.
Started: BillyBob99, 12 Jun 2024 10:44
Last post: Martinigirl, 13 Jun 2024 00:12
Ballymena, PREM lost the EPO rights earlier this year, March, if I remember rightly and it hasn't been renewed, most likely due to PREMs inability to produce what they told the Zim government they could produce. George lies to shareholders, he lies to offtake partners, he lies to governments. The facts are clear and obvious, Snowking knows it which is why he'll be here talking of expected production in July or untold riches from Mutare, Goozee knows it which is why he's selling his shares into the liquidity provided by those convinced this is a decent investment, after all he's got to recoup his losses from COPL. Check out all those that were ramping that one, lots of familiar names. Didn't quite work out for them there. Probably not a good idea to follow them into this disaster.
George will never sell. Prem is like a roach family affair. Milking shareholders in perpetuity.
Surely there was a line in the project plan to renew the EPO licence huh
PREM don't have the EPO to sell
It’s a vote to sell Zulu , keep Zulu and carry on, 50/50 joint venture so to finance the plant again, or vote to sell premier minerals to the Chinese as a hole including epo
Started: Jaglith, 11 Jun 2024 12:39
Last post: Tbob418, 12 Jun 2024 20:28
Dazed and confused. Weren't you the one who said George and what's her name said RNS coming by Tuesday (one of the Tuesdays a few weeks ago, and that didn't happen?) RNS came next week, or maybe that week last minute when it could have. I'm not sure but the point is that you got it wrong while claiming to get info directly from them.
To be clear about something on these forums: I own prem shares and even if I did not, I have the same right to post here as anyone else, invested or not, with good information or bad information or misinformation or in my case: mostly, NOT ALWAYS, trying to have some fun while we wait for the rich or poor status.
I'm curious how you got in touch with George or Vilma (w/e the name is) and why you thought that their info about the next RNS at the time would be accurate?
But the kit isn't there yet so if it's not complete yet they have between now and the 20th to complete..another 6 business days if they decide they don't need to work the weekend.
Sprint the civils are required for the installation of the kit, you must know that.
Raaydaar, if the delivery of the conditioner is the critical path why would a delay to the civils effect proceedings? I sense a shorter running scared as the clock ticks down..
Mein F..... or Mr Marcus Alder, what is your relation with Stark Resources exactly?
Despite the rumours being spouted the market is holding steady.
Acker
Started: Jaglith, 12 Jun 2024 13:41
Last post: Jaglith, 12 Jun 2024 13:41
He would have made more of a return in 2 days, then in the last 5 years holding those Circum shares which are pretty much worthless.
Last post: raaydaar, 12 Jun 2024 12:38
Real-time, there has been much less than the average rainfall in Zimbabwe this last rainy season, so much so that a "state of disaster" was declared in April due to drought.
Rainy season November to March. Unles the dam has sprung a big leak there should still be plenty of water...
Especially as no production at the momeny
Last post: Anglebox788, 12 Jun 2024 09:22
We all have to be optimistic here, after all George told us a while ago that Zulu would be producing technical grade SC7 🤥 (yer right, another of GRs fantasies) so now we just wait for the announcement and off we go👍🏻 just 4 bag from here and I’ve broken even, no problems
The News will be in the Annual Report 2023 where the auditors will give a going concern opinion. Will be interesting to see how many shares James Goozee still held at 31 December 2023. Deadline is 30 June for release.
🤒🥱🥱🥱🥱🥱
Happy Wednesday everyone
George a bit of positive news would be good please 🙏
Started: Martinigirl, 11 Jun 2024 23:40
Last post: pjmcgra, 12 Jun 2024 00:54
I'm surprised by that , I cannot understand why SP is where it is , and not lower.
Looking like that July deadline for installation is being pushed back with the civils not being completed yet. If they had been then it would have been all over X and the PRG would be shooting their loads into boxes of Kleenex. Cash running out, remedial works being delayed, debts not being paid, I'm also hearing that a number of issues have been raised with the FCA which will potentially require investigation. Georges lack of honesty and integrity maybe finally caught up with him? Interesting times ahead, we all know what's definitely coming in terms of a raise and an egm but what of the potential FCA investigation, will George delay the accounts and suspend? He's been late with them before and suspended or will he now get the placing done ASAP?
Started: Jaglith, 10 Jun 2024 12:58
Last post: Botuney, 11 Jun 2024 21:26
🤔😏😵💫🥱🥱🥱🥱🥱🥱🥱
Did anyone take my advice on HE1 this morning?
I believe Godards still have there shares
You never know they might do what they did last time gave them back to sell to market
We could really do with some social media on the plant
I don't think the placing will be at a 50% discount, more like 20 or 25%, that said with the HE1 placing it could be difficult to get one away at less than 50% the city boys will decide what they're willing to pay and George will have no choice but to agree or go down an alternative route. I'm more interested in the upcoming EGM and how many shares he'll be asking for. Acker has suggested, and I agree, he will need the equivalent of about £10 million to cover costs and future expenses as we all know that the current modifications will not be the last required to get this plant to nameplate production, if it can actually achieve that. I envisage a call for 15 billion more shares (due to the current share price am expected discount) that should be enough to pay his debts, keep paying wages (most importantly Georges) and keep the lights on until the end of the year. I'm not sure Canmax will be supportive but we shall see when the EGM call comes
A 50% discount sounds about right. Goddard must be pretty livid with George. They took shares at .16 and had to sell them at .11. I’m sure George told them the plant was working. Haha. And then just turned the plant off.