Prem13 Aug 2023 18:51
Well here I go, it may rub against the grain a little and spoil the "rampers" opinions however this is how I see it.
Cash availability
Premier has no source of revenue,the monthly ongoing costs will be met in the first instance by Mr.Roach.
To date, Mr. Roach HAS NOT sold any shares to help Zulu costs,the £ 2 million has not yet been called for by Premier.
I agree that there will possibly be bullish hype surrounding the Premier shares leading to initial gains early week, at this point, I am expecting Premier to make the call for the CEO to sell£2m worth of Premier shares.
The market will be aware that the call could come at any time.
The £ 2 million working capital will not last long, I am anticipating a further call for cash during mid/late October which will be large enough to see Zulu through the financial year.
Canmax settlement
This will settle the market.
The pivotal point is how much has Premier had to "compensate" Canmax for dishonoring the signed agreement.
The settlement may well be expensive for Premier, I believe it was "Hobsons Choice"
Rather disappointed that at this stage Canmax has rejected the call for further financial support.
Production
We may push a few wheelbarrows out of the gate in the coming months.
I must disagree with today's cheerleaders that commercial production will commence in September.
Posted earlier, December for commercial production.
I see the rest of the year is taken up with getting Zulu into production, getting the plant able to run continuously, to max efficiency, and producing SC6 regularly.
Once all the hype has settled over Canmax there will be a period of no news,this will put the SP in the doldrums.
This is my view on the situation, good progress has been made.
I took the vote as a positive and was delighted that, as expected,Canmax and Premier sorted it out.
The rest of the meeting was just chit-chat.
Looking forward to the RNS
Acker
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