Member Info for ACKER

I do think that this time the writing is on the wall for George retaining his post as CEO.

I was expecting a statement at the AGM but I think he will go before that.

What a bloody mess.

Acker

Jaglith

As you do, I can only assume that Canmax has rejected the motion.

I cannot think of anyone who holds sufficient shares that would not support George.

All he needs to do is contact Canmax for confirmation then release the results.

Maybe he is licking the brown envolopes as we speak.

Should George not get his money then the cat will really be amongst the pidgeons--enter Canmax

Acker

"The Company has agreed to postpone the GM as a result of issues reported by the Company's registrar in respect of the capturing of CREST votes within the CREST system, including uncertainty around a potentially large voting instruction against the resolution."

Surely this can be verified today and the results announced this week.

Acker

It is all catching up with him, he has had a charmed run.

Judgement day is approaching.

Acker

It was a great morning for the traders, well-played gents.

Acker

Horult

The FM has been issued ""....it was the right thing to do by the company and I support it " said George .

Acker

Dr Jekyll

Yes, I watched the interview upon release.

This is an important action by the company that has potential ramifications.

IMO it is worthy of an RNS .

Acker

George,

I believe you owe shareholders an explanation.

Acker

Yoglet

You are very good at it, far better than us poor mortals.

Do you practice?

Acker

We all know that George wants to return to RHA.

Acker

Ignoring the usual expenses, Prem will owe c $18/20 million in interest payments to Canmax by the end of the year.

Acker

Luthee

I think that is a good thing.

Acker

I think the CEO will have to come to the market again before the financial year ends.

I cannot see that the amounts now being raised will service accumulating creditors and allow for general working capital.

Acker

Cherryburn

Funny enough you were one of the posters I thought of when George was commenting on the MRE basis for calculation.

Acker

Did anyone else notice George raise his eyebrows when Mark mentioned selling spodumene at $1000 during the Stockbox interview?

Spodumene prices continue to fall, now at $752, the outlook is not good.

I thought the CEO's explanation of grading was the highlight of the interview; it certainly exposed some posters' weaknesses in knowledge.

Acker

Steward1

On the same page.

Good post

Acker

Well I must admit I rather liked the interview, I liked the fact that he was a little annoyed with certain comments and could and did explain different calculations.

There still IMO leaves a big question of future finance.

Overall, pleased with the content.

Acker

My concern with Prem has always been debt management.

Prem cannot go it alone, it will just not generate sufficient revenue to service its swingeing debt mountain which continues to climb.

The recent issue and the release of a further 9.5b shares will only give the company a little breathing space.

IMO the comany will require a further investment of £15/20 million.

Debt will currently outpace any production revenue.

Acker

Gerald Ratner comes to mind.

Acker

Horult

if the truth be known the Chinese fabricator probably dismissed Prem's offer of an extended purchase arrangement.

Acker