Member Info for Bickmaster84

Can anyone elaborate on GR saying he would sell Zulu? It hasn't got much coverage in today's posts and is probably the most important thing to come out of the meeting. Welshy, Bongoblu, can you provide any info on this please?

Bickmaster

Steward

Surely the 8-10MT indicated is just for the initial pit for the pilot mine and the DSF for the larger Zulu area, incorporating the ~25000m will follow in due course when the assay results have been provided and the model run to provide the numbers?

In a way it is likely the 8-10Mt target for the Pilot Plant is nothing more than a red herring and will actually cloud the bigger picture rather than provide a stimulus for the share price, in my opinion.

Happy enough with the presentation and hopefully the modules which make up the plant are available off the shelf rather than needing bespoke design and fabrication. That is where issues can present themselves and where most of the risk sits, along with programme.

Disappointing to see SP down down and the volume being so poor. I would have expected the volume to have picked up given the positive feedback from those who attended.

Bickmaster

Welshy,

Any highlights?

Bickmaster

I was approached and asked what questions I would raise and have provided these in advance of tonight's meeting. Won't be there myself but looking forward to feedback in due course.

Good luck all,

Bickmaster

Snowking,

It’s impossible to calculate the grades unless you have the full set of assay results and borehole locations and drilling angles/directions.

So say that someone can’t be bothered to work this out is entirely wrong.

Bickmaster

Snowking,

You are correct, I have sold most of my holding but still hold 5m. The fact I point out the risks and query decision making seems to have you riled up. If you can point out a post where I have been negative and not back it up with some logic please let me know. I have consistently said the opportunities at PREM are huge and continue to hold that view.

The fact is that I have called the vast majority of what has happened correctly.

It also appears I am living in your head rent free.

Bickmaster

Snowking,

I am delighted to see you view todays low volume as a major positive. Perhaps the institutional investors are waiting in the wings to get involved…

It’s unlikely I am in the UK next week and I am not expecting any significant news to justify changing my travel plans.

As regards me challenging George at the last meeting, there were three specific areas of challenge.

1. Speed of mobilisation of rigs before rainy season. GR provided his assurances the rainy season wouldn’t impact PREM. We all know how that one worked out.

2. Independent verification of results. In last weeks RNS George confirmed he was getting the early results reassessed. So it does appear there was time and money wasted first time around.

3. Not to buy any more MNH. He hasn’t bought any more.

I clearly remember yourself and Oranolio gushing at everything he said like a pair of teenage girls at a Niall Horan concert. And I also remember having to correct a number of posts you and Oranolio made summarising the discussions for others who were not able to attend, so I will obviously take anything you post next week with more than a pinch of salt.

I hope you have a nice day out.

Bickmaster

Sharebel,

28.6m shares traded today. How does that impact your views? Keen to understand your logic because I am struggling to understand it.

Bickmaster

Well said Jenkoo,

The news over the past week provides more than enough information for investors to decide whether to stick or twist when it comes to PREM. Different investors will of course apply their own level of objectivity to the risks and opportunities ahead over the next 12 months, and over the next 2-3 years also, and take their positions accordingly.

Setting side the geo-political and macro-economic climate over the next 12 months, the opportunity is in GR's hands now for delivery.

Bickmaster

Stewart

My tuppence...

1. State of the markets and the economic outlook for the next 18 months means investors will be slow to invest in the current climate. Markets have taken a hammering but it doesn't mean we are at the bottom yet.
2. Last week's news pushes the honey pot down to the road. Earliest PREM will be generating $$ is end of Q1 2022. Only exception would be if PREM is sold between now and then or Suzhou start accumulating shares in August before their pre-emption comes to an end on 2nd September.

Bickmaster

Chuggley

I am delighted to see you are now the fountain of truth on this board. My response below is in CAPS.

What am I saying that's an untruth - SEE BELOW.

60mt is target - TARGET IS 50MT SC6 - SEE RNS DATED 24TH JUNE. 60MT MAY BE POSSIBLE BUT IS NOT RNSed.
Contract rate is currently $5000 - IS THERE A VERIFIABLE SOURCE. WOULD IT NOT HAVE BEEN REASONABLE TO APPLY A DISCOUNT TO CURRENT PRICE TO REFLECT THE STATE OF THE ECONOMY IN Q4 2022, Q1 2023?
Discount range of course I don't know. But I cam make assumptions 10-20% $4000-$4500 - GUESSWORK.

Revenue $240m - $270m per annum - DOES TAKE ANY CONSTRUCTION/OPERATION RISKS INTO ACCOUNT. DOES NOT REFECT RNSED TARGET OR MAKE ALLOWANCE FOR MACROECONOMIC EVENTS IN NEXT 9 MONTHS.

Costs 48m - £72m. @ £800-1200 per ton - UNVERIFIED -
Less $35m loan - REPAYMENT IN SC6 AT DISCOUNT NOT REFLECTED IN REVENUE NUMBERS ABOVE.

Using highest cost $ 135m - $165m after loan and cost - FIGURES DONT STACK UP BASED ON FIGURES ABOVE
Before royalty - WHAT IS THE ROYALTY %. WHERE IS TAX TAKEN INTO ACCOUNT?
Even if you're extremely negative you can't imagine prem making less than $1m a week and that's me being very Conservative. I imagine that figure will be closer $2m a week - GUESSWORK

And all that without any income from tantalum and rubidium which there will be - RNS OF 24TH JUNE SAYS THESE WILL BE STOCKPILED FOR LATER RECEOVERY - SO UNLIKELY TO PRODUCE A REVENUE UNTIL PLANT FOR TANTALUM/RUBIDIUM RECOVERY IS BUILT.

Plenty of cash to reinvest additional mimi mines , expansion or even a full mine in zulu - PREM DOESNT HAVE PLENTY OF CASH TO REINVEST UNTIL THEY HAVE PAID OFF THE LOAN AND HAVE A FEW MONTHS OF DECENT PRODUCTION AND SALES.

Facts with some reasonable assumptions - NOT MANY FACTS AND NO ASSUMPTIONS APPLIED TO TAKE RISK OF CONSTRUCTION DELAYS OR OPERATIONAL ISSUES INTO ACCOUNT. NEW MINES TAKE TIME TO BUILD AND OPTIMISE ETC. DELIVERIES OF PLANT CROSS BORDER IN AFRICA CAN CAUSE LONG DELAYS ETC.

Bickmaster

Wolf,

I keep a core holding of 5-10m and will trade some as well. Will be aiming to buy back in around 0.26p. Use as much salt as you want!!

Bickmaster

Wolf,

The extra 10m I bought was at .305, so sold these for between .335 and .35 so have done ok out of them. If I had held on to them until close they would be down money. Plus, this is not my first time buying and selling PREM shares.

Bickmaster

Snowking

That is where you are entirely wrong. The interviews are always hugely positive. The issue is that the RNSs and factual delivery never follow up.

Bickmaster

Degrasse,

I'd miss correcting your inaccurate posting too much.

How are those charts looking today? Golden shower?

Bickmaster

Snowking,

There was nothing awful in the RNS today but nothing great either. Its going to be quiet here for a while, unless Suzhou start buying some shares in August.

Bickmaster

Acker/Daz

Anyone who pays any attention to Hindsight or Gandalf on Twitter needs their head checked. They are the worst of the worst.

Personally, as soon as I saw the RNS was released I skim read the first few paragraphs and started reducing my holding from 15m to 5m. This will come good in time (I am expecting mid to late 2023) but based on experience we are now into a phase where, apart from assay results, we are unlikely to receive any positive news for the next 9-12 months. I see this falling back to the 0.25 to 0.30 range for the foreseeable.

Bickmaster

Degrasse,

Laugh away if you want. I hope you laugh as much as I do when I see your charts and your ramps on Twitter.

Bickmaster

Confidence has never an issue for GR. Delivery has. As someone who works in projects it doesn't sound like there is much float in the programme. Would be delighted for GR to prove me wrong and deliver this on time.

Bickmaster

Aimisaluagh

1.1 pence target would be £260m mcap based on 23.7b shares in issue at that point in time. As for hitting deadline for commencement of operation, history would strongly suggest it won't be hit but as many have point out on here previously, multiple past failures should in no way reflect the ability to delivery future project on time or on cost.

Bickmaster