Member Info for ACKER

Raaydaar

At present, Canmax processes LH in China however, this time next year, Zulu/Canmax will not be able to export sponumene from Zimbabwe.

The product must be passed through a refinery before being granted an export licence.

There is currently only one operating refinery that is fit for purpose, which is 165km from Zulu.

Another option would be for Zulu to build a refinery; it would cost $250m[est], Canmax and Trading House would provide capital, and Zulu would provide the raw material.

Acker

*

Premier is no longer locked into a fixed or punitive price.

Instead, payment is tied to the **market price of SC6**, which:

- aligns Premier’s revenue with global lithium trends

- removes the previous distortions caused by the old contract

- reduces the risk of Canmax dictating price unilaterally

This is a major shift in bargaining power.

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Premier would not only sell SC6 — it would also earn a share of the **value‑added margin** from Canmax’s lithium hydroxide production.

That means Premier participates in:

- the conversion margin

- the downstream uplift

- the profitability of Canmax’s processing operations

This is *exactly* the kind of structure that mining juniors dream of but rarely secure.

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If implemented as described:

- Premier becomes a **quasi‑integrated** player without building its own hydroxide plant

- Canmax’s incentives align with Premier’s (more production = more profit for both)

- It reduces the adversarial dynamic that has plagued the relationship

- It potentially increases Premier’s revenue per tonne far beyond simple SC6 sales

Acker

A lot of flack has come my way following the daily publication of the spodumene price,many suggesting that the information is irrelevant.

I have re visited the RNS covering the revised agreement:

"A revised hybrid pricing agreement with the payment for SC6 supplied by Premier based on the SC6 price and a profit share whereby Premier and Canmax will share in the profit from production by Canmax of Lithium Hydroxide from SC6 supplied by Premier."

Both parts of the agreement have tangible links to the lithium prices,as I read it Zulu/Premier benefits directly from rising prices.

Will do more research and post

Acker

Dykee

This is a difficult topic, as you are asking for investment advice. I am not a financial advisor so not authorised to give you advice, sorry.

What I will say is that many, many months ago, I sold all my Prem holdings, at a considerable loss,then, with my depleted funds, I went trading.I was very fortunate to amass good gains across a small buoyant basket of companies. Have considerable funds stuck in PPP

During this period, Prem SP kept falling.

I did buy a few Prem here and there but the strategy was to buy under 10, and this is what I have been doing; it is going well.

IMO Premier will return considerable gains; ultimately, the investment decision must be yours and yours alone

Acker

~7.5–8.0 tonnes of SC6 spodumene concentrate → 1 tonne of lithium hydroxide monohydrate (LiOH·H₂O).

This assumes:

• SC6 concentrate at 6% Li₂O

• Typical refinery recovery 70–75%

• Standard sulphate or alkaline conversion route

This is the number used across feasibility studies, OEM supply models, and refinery design assumptions.

Acker

Ask your questions.

Acker

Yet another great rise in spodumene price.

$1880,up $80[4.44%]

Maybe over $2000 by the end of next week,or more.

Acker

Fell

The joke was that you were being careful with the pennies,only 20K

Acker

Fell,

Are you from Yorkshire lol

Acker

The earlier debate.

During the last Stockbox interview, Mr Hill commented that the company had been approached regarding acquisition of the lower-grade material we have available. [14.24].

Making no further comment about this, listen to the interview and draw your own conclusions.

Acker

,

Contractual stability---Canmax extension, increased dialogue with the largest investor

Plant and processing -decision made on flotation plant, the now being implemented

Production strategy--has implemented, new production plans including a comprehensive review of systems

Technical strengthening has introduced much-needed technical capacity at Zulu.

Work in progress

Very pleased with progress.

Acker

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**Impact:**

Shift from crisis management to structured, engineering‑led project recovery.

---

## **4. Leadership Stabilisation After George Roach’s Departure**

- Hill’s appointment coincided with the resignation of George Roach as CEO and director.

- He was later appointed **Executive Director**, formalising his leadership role during the transition.

**Impact:**

Provided operational continuity and technical leadership during a sensitive governance shift.

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## **5. Strengthened Premier’s Technical Capacity**

- The RNS announcement emphasised that Hill was hired specifically to **strengthen technical capacity** at Zulu and drive long‑term production improvements.

- His 41+ years of mine development experience were highlighted as a key asset.

**Impact:**

Shift from a commercially‑driven leadership style to a technically‑driven one.

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# **📊 Consolidated Table of Achievements**

| Area | Achievement / Progress | Source |

|------|------------------------|--------|

| Contractual Stability | Secured Canmax long‑stop extension | |

| Plant & Processing | Acquisition of new purpose‑built flotation plant | |

| Production Strategy | Imp

Well there you go.

8th January 2026 and spodumene hits $1800 [up 30]

Fantastic news

Acker

Off the morning press:

"Spurred on by demand for battery energy storage, lithium prices are soaring, share prices are soaring, hedge funds are covering short positions and, if things keep going like this, lithium-sector capital markets deals and even large-scale M&A could become a surprise feature of 2026."

You cannot beat a good M & A

Acker

Current:

Prem has confirmed that negotiations with the major trading house remain active, with talks also ongoing with one or two additional parties. Nothing has been finalised yet, but multiple options are clearly still on the table.

There’s growing interest in Zulu’s lower‑grade material, now attracting around $1,100 per tonne, which gives Premier added flexibility while wider discussions continue.

The relationship with Canmax is described as encouraging, with a more constructive tone emerging as both sides work toward longer‑term stability.

Overall, Prem is keeping several commercial routes open while market conditions and partner engagement continue to improve.

Acker

Martinigirl

Sorry for the delay in reply,had to undertake some research.

My response

What you’re overlooking is that when Canmax made its original prepayment to Premier, Zulu had:

• no plant

• no DFS

• no production history

• no proven ability to produce SC6

• no lithium mining experience

• no track record of delivering concentrate to anyone

Yet Canmax still advanced tens of millions of dollars.

Why?

Because strategic investors in lithium don’t behave like AIM traders waiting for perfect production metrics. They invest before a project reaches nameplate output, because that’s the only time they can secure long‑term supply at a reasonable valuation.

This is exactly how the lithium industry works:

• Ganfeng invested in Bacanora before production

• CATL invested in AVZ before production

• Yahua invested in Core Lithium before production

• Chengxin invested in Arcadia before production

• Sinomine invested in Bikita before upgrades

• Pilbara received strategic investment before producing saleable SC6

If investors waited for perfect grade and volume, they’d be paying 5–10× more and the offtake would already be locked up.

Zulu today is far more advanced than when Canmax first funded it:

• A built plant

• A proven resource

• Bags of concentrate already produced

• A functioning flow sheet (though inconsistent)

• A clear path to optimisation

• A distressed valuation that makes entry attractive

So the idea that “no investor will touch Zulu until it produces perfect SC6 at volume” simply doesn’t match how lithium investment actually works.

And to be clear:

A new investor does not need to take on Canmax’s prepayment. They can invest directly into Zulu, secure future offtake, and leave the Canmax structure untouched — exactly as PREM’s own annual report suggests with the line about “other parties in discussions with Canmax to reposition the relationship”.

If PREM fails to secure that kind of structured deal, then yes — dilution becomes the fallback. But to say that strategic capital won’t look at Zulu until it’s producing at grade and volume ignores the entire history of upstream lithium investment.

This time next year Rodney

“To infinity and beyond”

Acker,

Kaltersee

Graham Hill has experience at this level of negotiations.

Refer to the opening Stockbox interviews with Hill, where he talks about his involvement at higher levels.

Quite capable.

Acker

A package:

This option uses two capital sources working together:

• Canmax (existing offtaker, creditor, and stakeholder)

• A new third‑party investor (seeking spodumene supply)

PREM becomes the beneficiary of a jointly structured funding package.

1. Third‑party investor injects $20–$40m into Zulu

This investor wants:

• Long‑term spodumene supply

• A minority stake in Zulu

• A seat at the table

• Security over their investment

2. Canmax cooperates by adjusting or sharing offtake

This is the key.

Canmax:

• Keeps its prepayment rights

• Keeps its existing offtake

• But agrees to share future volumes with the new investor

• Gains comfort that Zulu will finally produce

• Avoids losing the asset to a competitor

3. PREM receives the capital needed to finish the plant

Funds go directly into:

• Plant optimisation

• Redundancy and reliability upgrades

• Contractor payments

• Working capital buffer

• Ramp‑up to stable production

4. PREM avoids catastrophic dilution at PLC level

Because the investment is in the Zulu, not PREM plc.

🎯 Why this option is so powerful

• It aligns all parties’ incentives

• It stabilises Zulu

• It protects Canmax’s position

• It brings in fresh capital

• It avoids PREM issuing billions of new shares

• It keeps PREM as majority owner of Zulu

This is the cleanest, most realistic, and most strategically aligned so

This is how I would resolve the situation. Canmax would need to play ball.

Acker

the

Jag

My comments follow new negotiations between Prem,Canmax and the introduced party. I am well aware that CURRENTLY, Canmax has full rights over production at Zulu and the profit split on the production of Lithium Hydroxide.

I would pick you up at the assets point. Canmax has security over Zulu shares, not the company assets.

If Canmax held security over the Zulu assets, moveable and fixed Goddards could not issue a writ.

Acker

Sell part of Zulu:

If PREM cannot secure structured funding, a partial sale becomes the fallback.

Typical structure:

A. Sell 20–40% of Zulu to a strategic partner

- Buyer injects $20m–$40m

- PREM retains majority control

- Buyer receives:

- Board representation

- Priority offtake

- Security over assets

B. Why a partial sale works:

- PREM avoids PLC dilution

- Zulu becomes properly capitalised

- Strategic partner gets long‑term spodumene supply

- Canmax’s position is stabilised (or renegotiated)

I would vote for this .

Acker