Member Info for ACKER

Sol001

No, just replying to a question.

My posts are not intended in any way to be advice.

Acker

A-Bomb

Sell to secure profits before pending placement, then re-enter the market at a lower price.

Timing is the key.

Acker

B-Positive

When are you expecting Zulu to reach reliable commercial production of Sc6,nameplate plus.

Acker

We should start to witness a scattering of larger sales prior to fundraising information.

Acker

Walt Disney

Acker

RNS Number : 8737F

Premier African Minerals Limited

23 April 2025

23 April 2025

Premier African Minerals Limited

Corporate Update

Premier African Minerals Limited ("Premier" or the "Company") is pleased to announce that further to the announcement on 1 April 2025 ("Announcement"), Premier has entered into a non-binding letter of interest with Glencore International Ag ("Letter") regarding the possible purchase of spodumene concentrate and repayment and/or management of the prepayment amount plus interest owed in respect of the Zulu Lithium and Tantalum Project ("Zulu").

Premier has agreed with Canmax Technologies Co., Ltd to use its best endeavours within the next three months to have the letter issued as a binding agreement subject to pre-conditions inter alia that the plant achieves the required grade and tonnage.

The debt carried by Premier I calculate at approx 60 million including interest.

Acker

Willec

Will you be so kind as to let me have a copy of the Glencore RNS notifying shareholders in Glen that the company has issued an LOI to manage debts of approx 60 million potentially and purchase spodumene.

Acker

I agree, there is usually some form of SP manipulation before fundraising.

George will need a higher SP before the EGM.

Acker

Sol001

Read the post,the author is talking about the need for an EGM to raise the share ceiling.This takes time to put together.

George will require further funds to get the project across the line,shareholders will asked to back company.

Acker

A-Bomb

Without any news it will be quiet.

Nothing to write home about.

Acker

Over 28% down over the past 5 days, not much confidence or sentiment in evidence.

Needs news,good news.

Acker

Willec

So, where do you see the SC6 price in the next few months, and explain why the a turnaround in lithium pricing.

How much have you factored for the production cost of 1 tonne at Zulu.

Acker

Willec

At the start of the month, the price stood at $820.

Acker

Good morning all.

SC6 report from SMM

Price down $3 to 773.

Acker

Medjed

SC6 at $776 before discount,Zulu will be running at a loss.

Acker

Anxiety

I'm not buying in bulk until after the next swingeing placement.I am banking on the shares being cheaper than today's price.

Acker

I am finding the maths rather difficult to follow.

For example,Zulu owes Canmax [say] 60 million and creditors 10 million

At nameplate plus, Zulu could extract 5,000 tons of sc6 per calendar month.

After discounts and the usual running costs, I cannot see Zulu producing sufficient revenue to service debts.

Those of you who are jumping up and down with glee,will you please explain how Zulu alone will clear debt?

Acker

Hasiba

The LoI does not pay the bills,it does not settle the ever increasing creditors,it does not pay for the running costs at Zulu nor does it play for the required capital expenditure.I am inclined to take the view that until Zulu can demonstrate commercial activity one can ignore Glencore.

Acker

Anglebox788

I agree with you.

Before any ink goes to paper, Zulu has to convince Glencore that it is a commercial unit that can regularly produce a marketable product.

This will take time and a fair few bob. Remember that the plant has to run continuously for 28 days to reach nameplate production. I doubt Zulu will attain this on the first run.

Your SP prediction will possibly be dented by further dilution.

Acker

A-Bomb--this is expected, there will be more as companies fight for mineral ownership.

I mentioned this on 7th April, an upturn in M & A, as geopolitics is playing out.

A volatile time in the mining industry.

Acker