Member Info for Bickmaster84

Very pleased to see the Twitter update this morning and see that the transformer is on site. Transformers are always the long lead item for such projects so seeing it there is a big positive, even if I still have reservations about RHA being a profitable mine!!

They appear to be about 2 years ahead of PREM. Shame GR couldn't spent his money more wisely!!

Does anyone else find it slightly worrying that Mnangagwa is entertain the Chinese, the Russians and the Arabs who would only seek to get involved in major projects and is not signing EPOs? Because I do.

The management fee is in the weeds and is of no relevance if RHA is not turning a profit, which it has not done in the past. It has been a money pit, I would love if that changes but I can't see any reason why it would. Sure didn't the fatman spend a small fortune sinking the shaft in the wrong place?

RHA news is no good to us. It is nothing but a money pit. Putting a new energy source there won't change that. We don't have a DFS and the plant has been built in bits and pieces over 4-5 years and hasn't been proven.

EPO news is the only thing which will bring Shareholder Value here. Apart from Circum but I doubt that will land before Xmas as it hasn't done so in 2018, 2017, 2016..... you can see the trend.

This is all about the EPO!!

Bickmaster

Not a single mention of PREM, RHA or Zulu which is disappointing...

Berenger Bank, not your typical market maker!! Very interesting indeed.

Interesting that there are currently 6 market makers trading PREM. Historically there have usually been 4 or at times 5. JBER have been added to the list today. I wonder why they would get involved with a small cap stock with relatively low historical levels of liquidity they have never previously been market maker for...

www.londonstockexchange.com/exchange/traders-and-brokers/membership/member-firm-information-sheets/member-firm-information-sheets-details.html?issueNumber=2015/107

https://miningzimbabwe.com/epo-funding-on-the-cards/

The transformational news is that there is a new transformer being delivered shortly hopefully.

I posted this a few weeks ago but it seemed it got buried among other posts at the time. If anyone has any views I would be glad to hear them.

I think the EPO and JV have to go hand in hand and the paperwork covering this will have been already complete behind the scenes and is conditional on the EPO being signed. The Mining Affairs Board Criteria For Recommending EPO Applications requires that the applicant is a fit and proper person to obtain an Order and is of adequate financial standing to undertake such operations under an EPO (i.e. to take the area through DFS and on to production). I don't believe PREM, on its own, would have the financial standing to be able to pass this test. Hence why the JV is required. I assume the Mining Affairs Board will have needed PREM to demonstrate they have the financial standing and given GR's background and the current share ceiling the only way PREM would have been able to satisfy them is to provide documentary evidence that the EPO being granted is the sole condition on which the formation of the JV would be conditional (i.e. the EPO when granted would force the JV and the parties have signed up to that already). There is of course a question about whether this would require shareholder approval but I believe shareholders would not have any other option. I still believe there is a risk PREM doesn't get the EPO and it is given to a much larger organisation, though that would be the worst case scenario. This is all my personal opinion though I am rarely wrong. GLA Bickmaster.

Agree OMITC,

The amount of money GR spent on the shaft etc without having a DFS in place was ridiculous. If he was a contractor he would have been done for professional negligence. He has spent a fortune at RHA and has very little to show for it. He built a plant 'on the cheap' which still cost many millions and hasn't been able to profitably produce. I dont see this changing, indeed we have not had enough throughput yet to find out how many issues the plant will have. I wouldnt be surprised if it needs much more investment. PREM is all about the EPO and Circum. Bring them on and we will all be happy!!

Charlie,

So your logic is that its good to see a few big holders to make it more difficult for there to be a few big holders who could take the company private? Agree with your point about more accumulation supporting SP. And i am very glad that one of the accumulators is James Goozee. Still very wary of GR and Dattels here though. Hopefully my cautiousness is unfounded, though GR's history of generating shareholder value is somewhat sketchy. Dattels has an interesting record as well, he creates value for himself, not so sure he does much for the smaller fish.

Great to see from the PREM twitter that they finished off their most recent large civils project. A top of the range transformer compound. All they are missing is the transformer. Oh, and the DFS for RHA... Forgive me, I couldn't help but laugh.

AIMHO, GLA, Bickmaster

Mattwales

That’s the risk here (along with the risk of not getting EPO). There is no reason GR and Dattels will have the smaller investors in mind with whatever is going on behind the scenes. Lots of potential upside here but lots of risk as well.

Good question mattwales.

I don't believe his loan notes would allow him to buy enough to take control. Unless he joined up with a few other significant holders.

The Goozee's holding 660m shares now. Just over 6%. Not sure if that means they have more than GR...

.investegate.co.uk/premier-african-min--prem-/rns/holding-s--in-company/201911111230020009T/

Forgive me. I thought you meant PREM was cash generative. Not MNH who Prem has given a loan to.

Bottompicker

You mention Prem is cash generative already. Can you give some more details please in case I missed something.

Cheers

Bickmaster

They've had a few rolls of fencing wire and a few insulator bars delivery to the site. Its hardly anything to write home about. RHA has been and, in my opinion, will continue to be a money pit. We need to see confirmation the EPO signed off rather than a picture of day to day deliveries to site.

IQ157, when you mention we progress to DFS in March, can you provide some more details on this?