Member Info for ACKER

Just a reminder, the market is closed this Friday and Monday.

Acker

Kenny100--this is only an extract from the RNS.

Acker

Is the market open Friday...??
Bank holiday.

Acker

PottyTime--yes 1P may be reached as the mine opens and the new ISAs attract investors.
Thereafter a void period until notification of the first shipment may see pressure on SP during the void spell.
Any news on 3rd party interest will see SP rise.
Will all happen Q3/Q4 IMO.

Acker

From my take on things, the pressure is off the CEO.
He will be aware that Zulu will not be in a position to ship pay during April, the first load leaving Zulu in early May.
It will be nice to get confirmation that the mine is working at full production and can readily achieve the required, continuous level of operation.
The real-time to start clapping is not the commencement of mining it is a notice of shipments and more so receipt of payment.
July and August will be bumper months for SP.
As stated previously, investors will want to see a run of good sales and some idea of Zulu worth.
When this is achieved we can look forward to a time of plenty.
A void period until then.

Acker

Well, a lot of different views on the timetable for progress.
I don't think anyone would argue about the potential of Zulu and its long-term success, it's just so bloody frustrating that having been assured many times by the CEO and many prominent posters we find ourselves well behind schedule and requiring, from whichever source, further development funds.
My take, I think that during the initial mine run the company will encounter further delays due to "gremlins" in the system, and as such:

The first shipment from Zulu--first two weeks in May
First payment for spodumene June
Further funding made available by the investor, secured against spodumene

I do hope it all falls into place a lot earlier however this is Prem .

Acker

Aspen
Expanding the link, this is what CEO put in the previous RNS;

Premier was adequately funded to that projected date and remains in funds at this time. It may be necessary to either increase the prepayment amount under current Marketing and Pre-Payment Agreement or accept a short-term loan facility secured against spodumene to be produced to meet operating costs at Zulu in the coming weeks. Should that arise, it will be

Acker

ProfitBags:

Does this help?

Offset of the Advance Purchase Amount through invoices raised by Suzhou TA&A for shipped SC6 should commence no later than 31 March 2023 at a minimum rate of 4,000 tonnes per month on a rolling average basis plus or minus 10% ("Minimum Delivered Product") following first Concentrate Production ("Supply Commencement Date"). If the Supply Commencement Date does not occur by 31 March 2023 or there is a substantive delay in the subsequent supply of SC6, or there is a shortfall in the Minimum Delivered Amount, then Premier will pay interest to Suzhou TA&A at a reasonable interest rate that represents Suzhou TA&A's actual funding cost for the delay or shortfall.



If the Supply Commencement Date does not occur on or before 30 May 2023, then Suzhou TA&A may terminate and seek repayment of the Advance Purchase Amount. Premier has the right to settle the Advance Purchase Amount at any point.

Acker

Cosmonaut--agreed.

Acker

ASPENWOOD--no stress here,just pointing out a few things that posters may overlook.

Acker

Cosmonaut- yes I understand the terms, in reality, to get a shipment out to comply the acid date is 8th May.
Cash availability is my growing concern, if we cannot ship in April it will be sometime in June before we receive our first payment.
Spodumene 6% continues to fall
Continual interest payments to the investor
Pressure on company finance
The credibility of Zulu operation.

Acker

Aspenwood--the plant has to run 24/7 and for a continuous period of 22 days.
Each day of delay does not help in getting Zulu an April shipment.
We are,in effect,already at 26th of April with no production.
Pressure is certainly on.

Acker

As it reads we are only now waiting for 1 final government approval, the previous RNS suggests more than1 was outstanding.
The part could cause some delays, hoping that all gets sorted soon.
We need a shipment in April, not May.

Acker

steward1--tend to agree about the Zulu time scale, moved to the week ending 16th April.

Acker

RNS--thank you George for keeping shareholders informed of the current position.
Please keep the news flow coming and good luck with the situation.

Acker

Hello Vetta.
I see our paths cross again, this time with Boil.
SP rise looking promising, fingers crossed for positive news.
Prem would have made you a lot of money.
All the best

Acker

Makingcash I think there will be a great sigh of relief when Zulu becomes operational and we have the cash flow sorted.
I feel the SP is on amber at the moment, waiting for the green light.
Until finally sorted we will see a game of snakes and ladders.

Acker

In.

Acker

Jenkoo I see the mine opening later this week and a strong possibility that 1P will be reached.
I am also of the opinion that the company will make a call for cash.
IMO a couple of million will secure a comfortable cash flow, first payment from ZULU is not expected until sometime in May.
I have no concerns about the cash call, however, it may knock SP for a day or two.
We may get investor money, which would alleviate the cash flow problems.
Lots of events during April.

Acker

Looking forward to a very interesting week[short] ahead.
Many factors could come into play including the possibility of breaking the 1P barrier.
IMO this is the week Zulu becomes operational.
Good luck everyone, new ISAs open Thursday.

Acker