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Martini,

If you want certainty, email Graham and ask him instead. Then you will know if they are indeed onsite

More importantly, you are conflating mining with processing. Goddards are a mining contractor, not a flotation plant supplier. The secondary flotation unit relates to processing, not to the act of mining itself

Ore does not magically appear when a plant is commissioned. You need material on the ROM pad ready to feed the circuit when Phase 5 begins. That requires mining activity in advance, not after the plant is installed

As for the Goddards settlement being “irrelevant”, creditors do not renegotiate, stay execution, and agree staged repayments unless they believe they will be paid. That belief is formed from information and visibility we do not have

You are entitled to your view, but presenting assumptions as facts while dismissing creditor behaviour is not “cold hard reality” either

Martini,

“Why would a mining company need a mining contractor on site at a mining project right now?”

Oh, I don’t know, maybe because mining is imminent

You’re anchoring everything to what George Roach did under a completely different set of circumstances. George isn’t running the show anymore, Graham Hill is, and the situation on the ground has clearly changed since then

Goddards want one thing and one thing only, to get paid. The fact they have agreed a new settlement and stayed execution tells you they believe they will be paid. They are clearly privy to more information than any of us on this board, and they would not restructure on this basis if they thought the outcome was failure

Creditors do not renegotiate out of goodwill. They renegotiate when it improves their chances of recovery

Martini,

Do you seriously think Goddards would stay execution and renegotiate terms if they believed there was no path to funding?

They knew PREM couldn’t pay immediately. Enforcing would have been the obvious move

Creditors don’t wait out of kindness, they wait because they expect something to change

So what do you think actually happens next here? Not what you’d like to believe or hope for, but what the actions point to…

GoldDuck,

Exactly. Things are lining up nicely. To me having been here before - this feels like a pre-EPO re-rate on the cards, hopefully

Seagul,

With the price of lithium on the rise and a deficit of

supply predicted the end of 2026, I think the option of sitting on the sidelines and watching what happens are long gone. I’m pretty certain negotiations are ongoing and advanced

Many forget GLEN are happy with the resource at Zulu. This has been stated by Graham. What do you guys think is going to happen here? If GLEN do not take it, you can be damn sure somebody else will

GLA

Today’s RNS is far more important than some people realise

Before this settlement, any new funding raised by PREM was at real risk. With a live writ of execution in place, Goddards could legally have seized incoming funds the moment they hit the account

That meant any external investor, partner or even a simple placing would have been pouring money straight into the hands of a creditor. No serious party would touch PREM while that threat existed

Today’s agreement removes that risk completely

The structured payment plan and suspension of enforcement action now protect any future cash injections. Funds raised from a placing, partner investment or third-party deal can finally be used for Zulu and operations instead of being grabbed by Goddards

In my view this was a very smart move by Graham Hill. He has effectively cleared the biggest legal obstacle standing in the way of funding

This RNS opens the door to fresh investment, whether that is a strategic partner, Canmax related support, or even a simple keep-the-lights-on placing

Either way, the company is now in a position to raise money safely, which was not the case yesterday

A significant step forward

GLA

Thai,

GH has so far kept Canmax onside, despite the odds heavily stacked against Prem. Let’s give him the benefit of the doubt here

Pretty confident with the rocketing price of lithium GH will find a solution to the financial crisis

Like others im expecting a small discounted placing to “keep the lights on” while he works on a new external finance package. I’d estimate Prem needs £5-8m to finally get this plant processing at grade and tonnage. When that happens the rerate is going to be astronomic. Place your bets

Acker,

You say “I thought this was a discussion board.”

Hard to have a discussion when one person is posting 20+ messages a day. That isn’t a discussion, it’s a monologue

Over 200 posts in 30 days, most of them huge AI-style essays that say very little in a very long way. We can all use AI if we choose, nobody is impressed by that. What people don’t want is one poster spamming the board with it nonstop

If you genuinely wanted discussion, you’d post less and listen more. Right now it feels less like a discussion board and more like the Acker AI broadcast channel

Quality beats quantity

Acker,

Credibility isn’t tested by me, it’s shown by your actions. Hundreds of posts attacking Graham Hill while you weren’t even invested, misleading the board, flooding it with negativity, those are facts

All the proof is hidden in your hundreds of posts, I guess that’s the idea, right? Post so much that it’s impossible for anyone to read through them all

I don’t need to list “errors” because it’s not about a spreadsheet or minute details, it’s about behaviour, honesty, and integrity. You don’t get to attack a man publicly for months, pretend you’re invested, and then act like you’re some neutral observer

That’s not credibility. That’s manipulation

Acker,

Are you actually for real?

You spent months hammering Graham Hill, post after post, calling him unemployable and questioning his credibility. At the time, you never disclosed that you had already sold out of PREM at a significant loss. Instead, you let people believe you were still invested, only admitting a few days back that you had exited and moved on to trading other shares

Despite that, you stayed on this board day after day, flooding it with negativity aimed squarely at Graham Hill

And now you say the board is “turning nasty and personal”

That is genuinely laughable

Do you seriously think the way you spoke about Graham Hill was not personal? Publicly attacking a man’s competence and reputation, while not being upfront about your own position, is about as personal as it gets

So don’t try to claim the moral high ground now. If you’re withdrawing, fine, but let’s not pretend this is about civility. It looks far more like avoiding accountability for months of behaviour that helped drag sentiment down while you had nothing to lose

And just to be clear, I am 100% behind PREM. I am heavily invested, having made a killing before and fully intending to make another one. What I am not behind is two faced posters on here who talk ethics after months of doing the exact opposite

The difference between you and me is this. When I exited PREM at 1p, I walked away from the board completely. I did not sit here day after day churning out hundreds of posts, talking the company down, undermining management, and trying to drive the share price lower for my own benefit. I came back only when I reinvested. That’s the line between honest participation and blatant self-interest

Martini,

You’re making the same assumption you always do, which is that every bit of future funding has to come from a placing. That’s not the only route anymore, and it ignores what’s actually changed

The price of spodumene has been climbing, and that completely shifts the dynamics. As prices rise, Zulu becomes much more attractive, which increases the chances of alternative funding options, revised offtake terms, or even a third party stepping in to take over or refinance the existing arrangement with Canmax. The higher the product value, the stronger the leverage on our side

You’re presenting your scenario as if dilution is the only outcome, but that’s based on old assumptions, not current conditions. Yes, funding is still required, nobody disputes that, but pretending there are no other possibilities just isn’t realistic anymore

Maybe try looking at the situation as it stands today rather than repeating the same worst-case narrative every time you post

Nothing posted as yet Acker

Nonsense, can buy any volume you want Latino

+56%

Jimtrade,

Good post

The RNS in my mind was a memo to Canmax - Extend the long stop

The bigger question everyone should be asking is this: why did Canmax bring Glencore into the mix in the first place, and why are they still negotiating with them now?

Those are not the actions of a company sitting back waiting for PREM to collapse. If Canmax wanted PREM to go bankrupt, they would have stepped aside, let the long stop fail, and walked away. Instead, they involved one of the biggest commodity players on the planet. They want Zulu producing, not liquidated

And look at the logic.

If Glencore formally steps in or replaces Canmax on the offtake, or as an additional offtaker PREM’s share price will re-rate. That immediately boosts the value of the shares Canmax already holds and gives them a realistic path to recovering their original investment. Glencore involvement means a higher PREM valuation

People also forget this, if Canmax wanted to take over and delist PREM, why didn’t they do it back in April when the whole situation blew up?

They had every advantage. Instead, they extended all the way to December, brought Glencore into the discussions, and insisted on a management change. GH being appointed and GR being pushed into retirement was not random, it was Canmax clearing the path to a team they believe can actually deliver

Canmax wants Zulu running properly. They want the product. If they ever took control, they would bring in their own technical and operational team to push production, not shut the project down. The idea they would simply strip PREM and walk away makes no sense at all. Every move they have made, especially bringing in Glencore, points in the opposite direction

In short, nothing about Canmax’s behaviour matches a company waiting for PREM to collapse. Their actions show they are positioning for a producing asset with long-term value, not a bankruptcy

GLA

Snowking,

Sure, it’s difficult to get a handle on old and new prices especially with the drop

If Prem does survive, as I expect then the rerate will be massive. When Prem moves up it moves big as we’ve seen before

GLA

Typo

*10m @ 1p is £100k not £1m

Snowking,

Your maths is terrible

1m @ 1p is £100k not £1m

Agree though braveness at these levels could be well rewarded

GLA

Volume = 74m @ 12:30

Snowking,

Agreed, the longstop date has clearly been extended, otherwise Canmax voting in favour would make no sense. This gives time to deliver the money, get the flotation plant commissioned, and have Zulu in production by March or April. Meanwhile, let’s get all the one tonne bags at Zulu sold!

GLA