Member Info for ACKER

fatsuperman--yes of course.
There is the matter of legal ownership and governance.
Many companies use subsidiaries for many different purposes.
Can be a minefield

Acker

steven c72
Here is a copy of the EPO order:

It is hereby notified in that the Minister of Mines and Mining Development, with authorisation from the President, has, in terms of section 90 (2) of the Mines and Minerals Act (Chapter 21:05), issued Exclusive Prospecting Order No. 1779 to Zulu Lithium (Private) Limited, for a period of three years with effect from 12th March 2021 to 11th March, 2024, inclusive,

George ,as you know,is a cunning fox.He has glossed over this in the RNS.

Acker

stevenC72

Have you picked up on the fact that the EPO WAS NOT granted to Premier Africa Minerals Ltd
Have a look at the official notice.

Acker

jcapal10

You say you have never heard of KDNC

If you had been in Prem in 2018 you would certainly have come across the company:

Proposed Transaction

On 26 June 2018, Premier African Minerals Limited and Cadence Minerals Limited, ("Cadence") entered into a conditional Heads of Terms (together the "Parties"). The intention is to replace these Heads of Terms with a binding Investment Agreement ("Investment Agreement"). Cadence has agreed to acquire up to 30 per cent of the issued share capital of Zulu Lithium Mauritius Limited ("MauCo"), a company wholly-owned by Premier by investing up to US$5,100,000 to fund the Definitive Feasibility Study ("DFS") of the Zulu Lithium Project. MauCo wholly-owns Zulu Lithium (Private) Limited, a company registered in Zimbabwe which owns the Zulu Lithium Project.

I would put money on this still being the end objective ;

Zulu Lithium

As announced on 2 January 2018, the Board of Premier has decided that a separate listing should be sought for the Zulu Project ("Zulu NewCo") to maximise the value of the project.

Over the past 18 months, Premier has made significant progress in the development of the Zulu Lithium Project and given the market valuations for comparable hard-rock lithium projects, the Board believes that significant value can be unlocked for shareholders by having a separate listing for Zulu.

Premier is currently therefore considering with its advisers a separate listing of Zulu in London. The listing is intended to take place as soon as possible, subject to regulatory and other approvals. Premier intends, subject to appropriate legal and taxation advice, to distribute (at nil cost) to Premier shareholders at the time of listing a substantial proportion of Premier's retained interest in Zulu Newco.

George Roach, Premier's CEO, commented: "In terms of RHA, Premier has been the sole funder of RHA to date, although it only has a 49% interest. The proposed new legislation in Zimbabwe will permit 100% foreign ownership and Premier is therefore currently in discussions with NIEEF, as well as other interested groups, to review alternative financing arrangements that will allow for further external funding for RHA. I remain confident that when RHA is equitably financed, the mine has a sustainable future.

It is evident that a separate listing of Zulu Lithium has the potential to unlock significant value based on comparable hard-rock lithium projects. I am also pleased to state that Premier intends to distribute a substantial proportion of its retained shares in the separately listed Zulu to Premier shareholders in the most efficient manner at that time to enable them to directly benefit from any value uplift."

Acker

Zulu Lithium [Private} ltd
Zulu Lithium Mauritius ltd
Premier Africa Minerals Ltd

This should be interesting

Acker

This share has more groups than Peter Waterman

Acker

Chuggley-- Gosh,if only everyone was as clever as you.

I will put my trading profits from Prem against your ROI anytime.

This is an educated BB that discusses both sides of the argument.

I shall leave you with your polar vision and hope that all works out well.

Acker

Why is the truth always classified as an agenda.

Acker

steward1

An excellent piece of work.

Acker

If all goes well we should see a reasonable rise in SP as we head towards the weekend.

Acker

Phillip1976--good words.

Snowking

And this goes out to all..if you were interviewing someone to run the worlds largest lithium mine would you,on past track record,employ George Roach.

I shall leave it at that and make no further comment.

Acker

@AlertRNS

All part of the Prem education classes.

Acker

Snowking you must understand that investors are nervous..do they,can they trust the CEO.
I undertook an exercise and went back over past accounts reading what was going to be achieved.
I went from the 2016 accounts to 2019 accounts ,CEO said the company was doing this,going to do that..this was the year for reform etc.
I can tell you Snowking that the CEO,at today date, has not delivered on ANY of the points raised.
RHA remains idle
DFS on ZULU remains outstanding
MNH has not generated any cash
Circum IPO did not materialise
Prem has not acquired any cash generating profitable business
And the company will soon be back in debt.
Surely you can understand the lack of sentiment in the company.
It is not very responsible for your "group" to make such comments about where Prem is going.An example--you intimated back along that your friend said the following:
James with his 7% is very confident with prem . He thinks we are going to have a transformational year with Epo, circum and mnh , also with rha going to come back .
I wonder if he will pay this board a visit
Prem did not have a transformational year...nothing happened.
To start saying that people are stupid is not cricket.
Not one of your better posts.

Acker

Chuggley--trading old boy.

Acker

Making money:

On 11 August 2020, the Company issued new ordinary shares to Directors, employees, and other creditors in settlement of accrued but unpaid contractual amounts due, amounting in aggregate to £337 428. The Company issued 374 920 533 new shares in settlement of accrued but unpaid fees at an issue price of 0.09p per share.

Easy money

Acker

Does this sound familiar

The Board believes it has a valuable asset in the Zulu Lithium and Tantalum exploration project and is considering a number of approaches that have been made that may result in a sale of all or part of this asset and a resultant liquidity event.

Acker

Altag--put it down to years of experience.

Acker

Still think CEO will follow this line.He has mentioned "spin off" in numerous past RNSs

"Over the past few years, Premier has considered a number of options for developing the intrinsic underlying value of its projects, while at the same time dealing with the fact that development of exploration and mining interests has a substantial cost. While Premier's shares have been actively traded and it is a very liquid stock, the Company's share price has continuously suffered and the underlying intrinsic value of Premier's assets has been eroded. In this context, Premier has previously considered a spin-out of some or all of its exploration and development projects and the introduction of new operating management."

Acker