Member Info for AlertRNS

Rns out

Stock Code: 300390 Announcement No.: 2023-046 Suzhou Tianhua New Energy Technology Co., Ltd. Announcement on Termination of the "Acquisition and Advance Payment Agreement" signed with Premier The company and all members of the board of directors guarantee that the content of the information disclosure is true, accurate and complete, and there are no false records, misleading statements or major omissions. The signing of the "Offtake and Advance Payment Agreement" and the supply of lithium concentrate Premier African Minerals Limited (hereinafter referred to as "Premier" or "Seller") is listed on the AIM market of the London Stock Exchange, and its main business is mineral exploration and mining. In March 2022, Suzhou Tianhua New Energy Technology Co., Ltd. (hereinafter referred to as the "Company" or the "Buyer") signed the "Share Subscription Agreement" with Premier. The 3 billion ordinary shares issued by Premier hold 13.38% of Premier's equity, making it the largest shareholder of Premier. The company owns fifty percent (50%) of the underwriting rights of Premier's lithium concentrate products. In July 2022, the company and Premier and its subsidiary Zulu Lithium Private Limited (hereinafter referred to as "Zulu") signed the "Acquisition and Prepayment Agreement" (hereinafter referred to as the "Prepayment Agreement") for the products of the Zulu Pilot Factory, and agreed that the seller will Deliver 48,000 tons of lithium concentrate products to the buyer, and the expected supply start date is between January 1, 2023 and March 31, 2023. At the same time, the company has paid the seller the advance payment in full in accordance with the advance payment agreement. 2. Progress in the implementation of the prepayment agreement According to the prepayment agreement, if the supply start date of the Zulu Pilot Plant does not occur on or before May 30, 2023, the buyer has the right to notify the seller in writing to terminate this prepayment agreement, and the seller shall pay the full amount within ninety (90) days after the termination of the prepayment agreement. Repay the advance and pay interest. On May 25, 2023, Premier emailed and confirmed that "no products will be shipped before May 30, 2023". In response to these expected default risks, the company, in the spirit of good faith cooperation, conducted full discussions and consultations with the other party on the follow-up cooperation matters, and agreed to advance the cooperation on June 25, 2023, but ultimately failed to meet the aforementioned deadline. Sign a new agreement.

In view of Premier's apparent breach of contract, and in accordance with the rights conferred in the advance payment agreement, the company has formally notified Premier in writing on June 28, 2023, that it has decided to terminate the advance payment agreement and require the other party to repay the advance payment and its interest in full within 90 days. 3. The impact of the termination of the prepayment agreemen

Https://youtu.be/uFT2UHPkHUg

Here they talk about the failed seals

Gazza,

The faulty bearing seals were apparent during Marks visit at the beginning of May, if you watch one of the videos on stockbox YouTube you’ll see the plant is down for maintenance to replace the bearings in the mill..

Steward,

Snow & co are awol. Seems they’ve all lost their login details for LSE.

The last we heard from Snowking he was calling anyone who didn’t agree with him daft, and worse. And that there would be an agreement signed today or latest Tuesday..

So despite what the man with insider knowledge said, it wasn’t a big month, or a big week.

Canmax clearly voted against the 4b shares (that was Roaches insurance) and also tried voting him out of a job. He narrowly kept his job as ceo today.

I do feel for Roach tbh, this wasn’t really his fault, it’s more stark. But, he has been let’s say economic with the truth, and not for the first time.

Mark from stockbox looked sick as a pig today on the interview and I don’t blame him.

Let’s see how the negotiations go over the coming days / weeks.

My gut feelings are,

Canmax if they choose could dump their shares, crashing the share price. Then make an offer. Like a really low one.

Regarding the accounts, it would be in prems best interest to accidentally on purpose not file on time & to be suspended. Canmax cannot sell shares if suspended. It may be best option to stay suspended as long as possible, using that time to fix the plant issues and sort out another partner. I’d be amazed if the relationship between prem and Canmax can be restored, the only slight hope is they clearly know what’s at Zulu, in the ground and you’d think they still want it, and desperately. How they get it now is another story that we now all have to sit back and watch.

GLA

The vote went against issuing new shares.

Https://youtu.be/Y-xB_cbfZpQ

Let’s see what he has to say 😬

https://twitter.com/stockboxmedia/status/1673257928495693825?s=46&t=f4VrV81Xjc9c_NKCug9IFw

Not sure when this was taken - but maybe we’re back producing cake ?

https://twitter.com/rickykitson/status/1669432902629707782?s=52&t=f4VrV81Xjc9c_NKCug9IFw

Joey,

You’re not sure? Yet sure enough to post your not sure’s? Those being absolute worst case scenario for each point.

Head back to Nasdaq. Filtered for being a clown 🤡

The sh I te being posted on here recently is ridiculous. Annoying also. Why do some of the regulars even reply to these guys ? Just filter and ignore. You’re half the problem guys!

Big few weeks coming, filter the ridiculous posts / posters and let’s get this BB back to what it used to be.

Sure would! Heard that one will be done but he’s at junior Indaba today

https://twitter.com/juniorindaba/status/1666384017686495232?s=46&t=f4VrV81Xjc9c_NKCug9IFw

Clueless,

We all want details - in fairness to prem this was a pretty good rns with a fair amount of info. It’s not signed as yet so there’s only so much they can give us right now.

It’s coming, on or before 25th June.

GLA

Am I reading this right ? We share Canmax’s profit from sale of their Lithium Hydroxide? If so that’s some deal!

“Adjustment in the pricing mechanism whereby both parties will equally share in the gross revenue from the sale of Lithium Hydroxide produced from spodumene supplied by Premier, after deduction of the production costs of both parties.”

Premier has been accruing interest at 3.5% per annum (subject to adjustment from time to time in accordance with loan prime rate as published by the People's Bank of China) to Canmax in accordance with the Agreement.

Canmax and Premier are in advanced discussions pertaining to an addendum to the Agreement to allow for the following:

Ø

Adjustment in the pricing mechanism whereby both parties will equally share in the gross revenue from the sale of Lithium Hydroxide produced from spodumene supplied by Premier, after deduction of the production costs of both parties.

Ø

Further prepurchase of spodumene by Canmax from Zulu to assist with ongoing operational costs associated with the revised timelines and expected production figures as announced on the 25 May 2023.

Canmax have confirmed that their intention is to continue to support Premier and not to terminate the Agreement providing that an addendum between the parties is entered into on or before 25 June 2023.

George Roach, CEO commented, "I am deeply appreciative for the constructive discussion, further assistance, and confirmation of our relationship with Canmax ".

Finally released

https://youtu.be/ikdVlXTFrn0

.66 paid

Https://youtu.be/uFT2UHPkHUg

Jonjo,

I agree, right now Canmax need prem as much as prem need Canmax

Jenkoo,

Agree with everything you said.

I think what George is saying is that if they exceed the nameplate numbers by 25% then we’re likely to process an addition $3m per month, and he will then feel obliged rightly or wrongly to chip in for the upgrades / fix’s that have taken us above nameplate output.

What I did take from the stockbox is that the numbers quoted by Stark are likely to be the absolute minimum / conservative, which if beaten each month right up until full production in December will bode very well.

But as always let’s see.