Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I beg to differ on the whole George Roach issue.
There have been many times that I wanted him out, and felt so frustrated.
I don't like being lied to either in an RNS or via an interview and I am not amused by the system adopted to pay /reward his "Premier Puppets"
Would I change him...not as easy as people think... On balance no I would not.
He could have thrown the towel in, but he has not.
The CEO is still very optimistic about the future of all our assets and IMO is currently turning the plant around.
I may change my mind.
He has my support.
Acker
Botuney
What do you expect me to say, we all are aware that for one reason or another the construction of the Zulu mine has met with many problems.
I'm taking the view that, at last, the problems have been identified and solutions are available. Pipework is such an example, a design fault not a maintenance issue. and this will be rectified next week.
Acker
Luthee
Under current circumstances, yes, I do.
The shipment arriving at Zulu is most important, the "pit stop" identified particular problems with piping, etc and this was affecting the efficiency of the plant. This is more than a maintenance issue it incorporates design upgrades to achieve nameplate production.
Acker
Acores
Just a gentle reminder that the original plan set out in the 24 June 2022 RNS related to the ability of a "Pilot Plant" construction at Zulu.
On numerous occasions, the CEO has recently stated that the capacity of the plant has changed and that it would be no longer correct to refer to Zulu as a "Pilot Plant"
The CEO has also made it very clear that once commercial production has been achieved, he will look immediately at increasing the production rate. I have June as the first month of commercial output and August as the first increase over the nameplate.
Seriously looking at c7/8000 tonnes per month at the end of the year.
Acker
IMO it is not going to be easy however I feel more aligned with Snowking than some others.
Initially, input costs of production will be on the high side resulting in minimal profit, at 4000 tonnes the reward will be minimal
As production moves to August input costs should start to decline, and production should increase, couple this with increased spodumene prices then the margins improve.
I can see Canmax offering an extended repayment period, at a cost.
Watch out for the Arabs, very keen on investing in African mining companies and the Zimb government is also opening the checkbook..
Any production during May will add credibility to the Zulu operation and please potential lenders.
It is a very important period for Prem.
I am looking forward with optimism and a little luck.
Acker
Horult
I agree, not all news is worthy of an RNS.
George must keep feeding the hungry, and shareholders must have confidence that progress continues, and if this progress is depicted by pictures that is fine.
George cannot afford any further drop in SP.
Acker