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Cringsing
I don't believe the CEO "conned" the shareholders, I believe production, including nameplate will be achieved.
I still believe he made an error in not asking for double the amount at the last EGM.
Acker
El-Gelboy
Your post has merit, I can also see a situation where Canmax takes all Zulu production in repayment of the advance agreement., however, I would limit Canmax to taking only spodumene from Zulu leaving Prem to exploit the other minerals at Zulu and receiving revenue from the Canmax/Prem venture.
Should Prem increase output at Zulu and the price of spodumene increase that would help. I must agree that on the current form, Prem has no chance of making any tangible inroads in clearing the advance payment .
Acker
Botuney
IMO the drop in sp affords a magnificent opportunity to purchase Prem shares, the dilutions may make them cheaper still.
Working from this base the % return just over this year could be and should be quite outstanding.
Acker
Hasiba
That's a strange introduction, I was actually outside planting out onions when the market opened.
I would not be full of praise I would be posting" care and caution " about the forthcoming dilution.
IMO the RNS was fodder for the plebs,nothing of worth.
Acker
Gazza4563
The commercial side never goes out of the window, it is the whole essence of the Zulu mine.
I am feeling rather disappointed with the RNS,the company called in world experts over 5 months ago. Others have joined the analysis team and faults are still being drawn from the project.
I remember the CEO last year stating that the Prem crew was taking a more hands-on approach and closely monitoring progress.
DOES ANYTHING WORK TO SPEC AT ZULU.?
It appears that once again I am going to move my targets.
God knows where the finance will come from to keep the lights on, betting on yet another EGM
Not looking good for my 1000 tonnes in May and nameplate in June.
What a mess.
Acker
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
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