Dr Pineapple17 Nov 2023 01:03
Thank you for your post.
Replies to the many questions have already been posted however let's go through them again.
It was suggested that Prem had run out of money the person posting could not see any avenues for raising further cash.
I provided a list of possible options available to Premier.
Should Canmax agree with the other parties to proceed with the revised strategy to bring forward the installation of the new ball mill and also accept that no spodumene will be produced during November and December then logic dictates that the payment against the loan becomes null and void as at the time of the revised agreement the terms for output have been overridden and no longer form any part of the business partnership.
The last RNS indicated that the new ball mill installation was subject to discussion with Canmax, on this point, I have moved things forward and taken the view that Canmax would agree to revised action.
I have already explained to this BB that I have posted my thoughts on events and as I see the matter panning out.
I have no inside knowledge of events.
It was reported by Premier that the company would hold 1.5m in a reserve account to cover November loan repayment,as this,IMO, would no longer be called for it could be directed to settle the part of the contractor's invoices falling in this financial year.
I am also of the opinion that Canmax will continue to support Premier both financially and technically.
The loan repayment to the CEO falls due in January, I suggested that CEO defer the repayment for one or two months, February/March--Zulu should be in nameplate production by this time.
Premier is owed $20m from RHA, the debt belongs to the 51% owner of RHA.I believe talks continue to recover the debt.
The inclusion of Li3 on my list was to demonstrate that Premier has many assets other than Zulu.
Sleep well
Acker
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