Member Info for Bickmaster84

Hairy,

I'm partial to a drop of Glenfiddich. I'd also be partial to a drop of Laphroaig, Jura or Auchentoshan. Preferably after about 12 pints of the black stuff and breaking 80 off the back tees. Looking forward to the weekend. Have about 800 Christmas trees to prune on Saturday and on the first tee Sunday morning around 9. Watching the masters and have Scheffler and Smith backed so happy enough with today so far.

Bickmaster

Vetta, suzhou will be keeping their plans close to their chest.

Daz,

I don't see the current lack of a mining licence being a major issue in any case. The Zimbabwean Government want the Lithium out of the ground so they can start making revenue on it. My preference would simply be to sell Zulu post DFS and let the buyer sort out the mining licence.

AO'S

Johnny

You need to remember someone would need to sign off such a sale. That would be without a DFS and the shadow of Uramin hanging over the company given GR's past involvement.

Bickmaster

Shareholder19

Have a look at section 4.

https://www.rics.org/globalassets/rics-website/media/upholding-professional-standards/sector-standards/valuation/valuation-of-mineral-bearing-land-and-waste-management-sites-2nd-edition-rics.pdf

Bickmaster

People should be careful not to agree with a doom merchant like myself who is concerned with getting a return of 700-800% on my investment whilst reducing risk as far as is possible and bringing the timescales forward.

Wolf,

There's no reason Zulu DFS shouldn't be in the 60-80Mt range which PREM was targeting. Even at 20-30Mt I am sure there is a strong business case to get a mine built asap.

However, I am firmly of the opinion at PREM should sell 100% of Zulu and not be involved in the mine development. PREM, an exploration company, has shown how pi55 poor it is at actually doing an exploration programme for the Zulu DFS - this should be its bread and butter. Building a mine is a whole other level of complexity and PREM shouldn't be let anywhere near it. We have seen how PREM messed up the development of a small mine at RHA. A mine at Zulu would likely be 15-20x the scale and 4-5x the complexity.

We can get 1-2p per share just by selling Zulu, likely in early to mid 2023.

Leave the mining to the miners.

Bickmaster

Acker

Unfortunately no, I can't help.

I would be incredibly surprised if the Zulu DFS could be completed with ~7000m of drilling, even taking into account the previous drilling undertaken a few years ago.

Your post sets out that GR said enough drilling to complete the DFS had been undertaken. If this was the case I would have expected a RNS stating that the drilling required to complete the Zulu DFS has been completed. However as we haven't had that RNS, then it must not be true. Unfortunately GRs interviews are worth absolutely nothing. Unless it is in a RNS there is no ability to rely on it.

If GR's claims are correct then why would he not want to provide such an important and positive update to the market...?

The mind boggles and 'making it up as he goes along' comes to mind.

Bickmaster

The fact the SP is down surprises me greatly as last night Snowking posted that today 'should be a blue day'.

I think it is fair to say that the day to day price movement is not what is important here, it is the medium to long term trend (e.g. 3-12 months). Unfortunately for PREM the near term trend appears to be a slide in the SP. No doubt some will tell us how the SP is up 800% from its lows. However is is also important to note the SP is down about 92% from its highs, though for every share in issue at that time there are now approximately 65 in issue.

It would be easier to be positive going forward if there was a plan in place. There is currently no plan in place and anyone who believes otherwise after listening to GR's shambolic interview needs to ask themselves some serious questions.

PREM is quite likely sitting on £1b of lithium but the inability to deliver is killing confidence and SP.

Time for GR to step up and provide a plan and some actual data to shareholders or get someone else in who is capable of doing that.

Bickmaster (i.e. doom merchant no 1.)

Steward

Yes, I was also doing the maths and assuming 0.8p - 1p per share late 2022. I am surprised however the people didn't realise the DFS was entirely unachievable in Q3 2022 and the costs were underestimated. GR had a single token drilling rig operating for a few months and got the additional rigs in when the rains started. An absolute mess.

Red,

Aware Shango are on board but their hands are tied until they get sufficient verified sample info to perform the RUS. I can's see them having that in the next 6 months. In my mind that raises a question about whether there is much value in producing a RUS or going straight to DFS. It all depends on how much drilling info is available to make the RUS meaningful.

Bickmaster

Red,

You're assuming (1) a RUS will actually be delivered and (2) that if one is delivered it will be meaningful. We only have about 1000m of verified results from the DFS programme. The drills should continue to turn until about the end of October before the rainy season starts. The bigger issue is the time it will take to test all those cores. If GR wasn't able to secure sufficient lab capacity when there was one drill and then three drills operational what chance will he have with the current number running (a number we don't know as it has not been confirmed).

13 months since EPO and 1000m of results. Will it be possible to get another 9000m - 14000m in the next 12 months? I have serious doubts.

And then the modelling and DFS report writing will take another few months on top...

And throw in potential news of more money being spent at RHA and an increased percentage at MNH or other new acquisitions...

We are about to enter the doldrums for the next 6 months. The old adage of 'Sell in May and go away' comes to mind.

Bickmaster

Steward

Your post below reflects my thinking and my previous posts and is the main reason I have reduced my holding from 20m to 7m over the past 6 weeks. Apart from getting assay results through, the only other significant news I expect over the next few months will be non Zulu/EPO based. That largely leaves RHA and MNH and now that GR has some $$$ he wont be able to sit still without trying to do more with them which will naturally drive the share price down.

I'd predict SP of 0.25 - 0.30p at year end with the increase starting in February/March on anticipation of DFS being released. I expect DFS will be April 2023 and SP will approach 0.6p when it lands.

Bickmaster

News, yes Herbert is also involved at Firering Strategic Minerals as well as Atlantic and PREM. He seems to get involved more at Firering and Atlantic. The only involvement I have seen from him at PREM is trying to do a deal to unload MNH on PREM shareholders. About time Mr. Herbert stepped up to the plate and justified his position.

Bickmaster

Shiny,

Very simple.

That idea was made up by degrasse & co.

Bickmaster

Ballymena

You need to remember Noel has had the blinkers on for a good few years now, doesn't know much about development and doesn't have any business experience. The same can be said for a few others in the group. The strategy is not a millions miles away from that employed by a number of dictators down the years. Control the narrative/media and deal with anyone who doesn't sign up. I still keep an eye on the telegram group from time to time but there is little value. Much better off doing your own research.

Bickmaster

Yes, I saw that as well. He needs to be careful or he will get his marching orders.

Redandy,

My thoughts exactly. The Chinese take a long term view and have their 6 month preemption period. They are happy to sit back and let GR waddle along, make it up as he is going along, let SP stagnate and can strike when they think the timing is right.

Bickmaster

It’s like someone posed a challenge to GR - “Prove to me you are making it up as you go along and take 36 mins to do it”.

It begs the question about where the TR1 is given the shares have been admitted.

A TR1 is a form which takes about 20 mins to fill out, if that.

Surprised we have not yet seen it and hopefully there is nothing untoward.

Bickmaster

I would imagine the fact there is a war ongoing in the area may impact the ability to do anything there for the foreseeable.

https://widerimage.reuters.com/story/new-front-in-ethiopian-war-displaces-thousands-hits-hopes-of-peace-talks