Member Info for Billthebank

Weren't they saying that Monday? How do you know minilots

As expected another day and no RNS 're RHA.Sorry to sound negative but I reckon it will be ages b4 the MOM actually agree to the restructure if at all. The intention to form a new Zimbabwe based co to overcome this obstacle of lethargy for Zim GiGovt is a reasonable idea just not confident it will make any difference.Hope I am proved wrong. As far as!I am concerned I remain invested but for me now it is all about CIRCUM and we will know a lot more in 4 months where that is going. As for RHA that is beginning to look like a white elephant but you never know. Pres we are valued at £11M.Fair??? Well at present it appears so. As for ZULU I can't believe this lithium prospect has no takers. I guess that is all about Zimbabwe!!! The 3/4th largest deposit in the world we are told George if you are reading this you over extended yourself by buying too many assets with no cash flow and this has been your downfall.I know you have invested nearly £1M into these but that and the expensive way you raised money in the past has soured the taste in the mouth. Your decision to walk into the sunset now you are in your 70s is a good one. I hope your health holds firm and CIRCUM delivers for us poor shareholders that you have let down.Goid luck LTHs we are going to need it. Have to admit at one stage I had 20M of these shares but took a major hit and exited. I now have a very small holding and I wouldn't invest any more presently

It wouldn't surprise me if at the end of this week we are still waiting for the RHA sign off.GLAHs

THIS IS OUR GET OUT OF JAIL FREE CARD CURRENT VALUE $1.25/SHARE C/V £5.3M!!!! Circum Minerals in final stage of advancing Danakil to production November 6 2018 Circum Minerals is working through the last stage necessary – fund raising – to move its 100% owned Ethiopia-based Danakil project into construction. And while the plan to build the operation will occur in four phases, the final operation will be a significantly sized operation – substantially larger than any of its African-focused potash peers. This article first appeared in Mining Review Africa Issue 10, 2018 Situated in Ethiopia’s Afar region, Circum Minerals has been quietly advancing its project. With a mining licence in hand (awarded in April 2017), it has spent the last year optimising its definitive feasibility study which has seen it increase its potash production targets. The original plan entailed producing 2 Mtpa of MOP (muriate of potash, KCl) and 750 000 tpa of SOP (sulphate of potash, K2SO4) explains COO, Duncan Bowker. On the back of its optimised study, completed by African engineering expert SENET, the company is now looking to produce an additional 750 000 tpa, delivering 3.5 Mtpa potash in total. These production volumes are significant and Circum Minerals is considering a phased approach to the project’s construction in order to de-risk implementation and reduce capital requirements. “Our focus at present is to secure the necessary funding to move into construction, with the objective to raise the capital through a combination of debt and equity. “With the money secured we will start construction in 2019 – which entails a two-year build period followed by a two-year ramp up to full production. According to this schedule, we will produce our first SOP towards the end of 2021,” Bowker outlines. The remaining phases will subsequently be constructed and funded out of cash flow.

I have to agree this deal is not what we were expecting and yet again George has let us down but it is a deal.Lets see if the MOM deliver now and lets see the result of the due diligence.People are criticising George for his £300k purchase and saying he is getting in cheap That is ******. We could all buy in cheaper but the thing is are we? Hmmm!! George has close on £1M at today's prices in this company so give him some credit. As I have said before I do not think his health is good and I believe he us tidying up his financial affairs.Lers see what the next few months bring

For me I wish we could be clear 're RHA and the$20M we are owed.What is the plan.We get another 46% and the debt is deleted? Any mention of other assets.Lastly did they consider a merger?

announcement 're the loan is good news.Clearly George is happy to receive another £300k in Prem shares. This will take his holding to closer to£1M!!!! Agree 're CIRCUM and I am sure George will do the right thing 're the shell. TBH I believe that afmine must have connections so a Zim based co will have a more sympathetic response from the Govt.I also think George is not as well as some people might think and he is making mistakes which have become more evident if late? My main disappointment is the valuation of our Zimbabwe assets £7M.Who has come up with this fig.Is RHA not owed $20M whilst we are in 49% form on its own for stsrters.That piece of the jigsaw I find confusing

Prem puts in its Zimbabwean assets we get 80% of the new company inc all of RHA
KME Holdings puts in its mining assets They get 20% of the new company. KME value those assets at £4M
Zimbabwean Govt have 10% of RHA

The new management will raise £6M for working capital purposes

There is talk that Premiers Zimbabwean assets are pres worth £7M I disagree and I believe they are valued at £16M

Overall we will have shares in two companies
CIRCUM valued at $6.5M
NEWCO worth £26M

At present Premier is worth £11.6M

I listened to that pod cast

1 KME Holdings are a private limited company based in Zimbabwe as are that management team Searched but I can't find them} WE NEED MORE BACKGROUND INFORMATION
2 The Zimbabwe Govt have us over a barrel IMO I reckon they are idriving the Zimbabwe company to control the new company
3 The new company will preferably be listed in London
4 George believes that this is the fastest way to bring RHA into production
5 Owning less than 50% of RHA is a major hurdle
6 The new co will only exist if the shareholders agree and also The Ministry of Mines lets the New company have 90% shareholding
7 The shareholders anger George believes in part is down to ''a lack of proper explanation from himself''; plus shareholders not understanding the rationale behind what Premier is trying to do. HMMMMMMMMMMMMM!!! Read that twice.
8 This deal will substantially reduce costs in getting RHA up and running and work on ZULU
9 Due Diligence will be required on KME Holdings Assets
10 There will be a new management structure (Not certain that George will be a part of that!!}
11 George has a sole shareholding worth £0.5M in Premier
12 George agrees that the valuation of ZULU and RHA are too low
13 Circum is worth $25/share presentl valuing that company @ $6.5M
14 IF George is no longer part of the exec of PREM (Is he being ousted?) then it is clear he would not want CIRCUM to be included in The aforementioned ZimBabwean assets
15 Any other assets e'g' ACRM and TCT and anything I have missed should be included in our new shell
16 Lastly I do not see how George could move CIRCUM shares to himself. If that is possible and this deal needs to go through then this should be tidied up before agreeing to the deal

I believe that is where we are

Now if we can as shareholders obtain satisfactory answers on all of the above then why wouldn't we agree after all what alternative do we have if the Ministry of Mines a re the puppet masters????????????

I listened to that pod cast

1 KME Holdings are a private limited company based in Zimbabwe as are that management team Searched but I can't find them} WE NEED MORE BACKGROUND INFORMATION
2 The Zimbabwe Govt have us over a barrel IMO I reckon they are idriving the Zimbabwe company to control the new company
3 The new company will preferably be listed in London
4 George believes that this is the fastest way to bring RHA into production
5 Owning less than 50% of RHA is a major hurdle
6 The new co will only exist if the shareholders agree and also The Ministry of Mines lets the New company have 90% shareholding
7 The shareholders anger George believes in part is down to ''a lack of proper explanation from himself''; plus shareholders not understanding the rationale behind what Premier is trying to do. HMMMMMMMMMMMMM!!! Read that twice.
8 This deal will substantially reduce costs in getting RHA up and running and work on ZULU
9 Due Diligence will be required on KME Holdings Assets
10 There will be a new management structure (Not certain that George will be a part of that!!}
11 George has a sole shareholding worth £0.5M in Premier
12 George agrees that the valuation of ZULU and RHA are too low
13 Circum is worth $25/share presentl valuing that company @ $6.5M
14 IF George is no longer part of the exec of PREM (Is he being ousted?) then it is clear he would not want CIRCUM to be included in The aforementioned ZimBabwean assets
15 Any other assets e'g' ACRM and TCT and anything I have missed should be included in our new shell
16 Lastly I do not see how George could move CIRCUM shares to himself. If that is possible and this deal needs to go through then this should be tidied up before agreeing to the deal

I believe that is where we are

Now if we can as shareholders obtain satisfactory answers on all of the above then why wouldn't we agree after all what alternative do we have if the Ministry of Mines a re the puppet masters????????????

Sent a message onto their facebook page

Not very good security for a £300k loan.Guess jungmana got that value wrong?

The part of the jig saw I dont grasp is......
The Zimbabwe assets are worth as stated by some $7M
The Zimbabwe govt own half of RHA presently.
The New co will own RHA so the govt will release say 35% of its holding?
And for that we say great thanks for that we will cancel your $20M debt??????

SURELY NOT!!!!

No more from me Will see what unfolds!!!!

Agreed

Hi
You are not the first person to say that re $7M Looks like $20M to me Can you tell me what I am missing thanks?

Yup Ignore my post!!! To good to be true!!!Not the right KME!!!!!

ACtually no I am not sure Post deleted. Sorry mis information Aologies!!!

It was only weeks ago George stated that RHA would be delivering 6k tonnes from underground mining as our preferred option at RHA and not 40k tonnes from underground and open pit.

George stated we would have confirmation from MOM by end of October on the RHA position. We currently own 45% of RHA and Zimbabwe owe the company $20M as the present situation was intolerable and no one could expect Premier to continue funding this as it stands presently. We still wait. However Premier are apparently in constant contact with MOM and we should have an announcement SOON,

DONT YOU JUST LOVE THAT WORD?

NOT!!!

ZULU We still wait. Hey ho!!!!

So KME are going to throw $4M in the form of assets.{ What are those?} in for a 20% shareholding in New Co so they seem to think all the Zimbabwe assets are worth $20M to them presently? The remaining 80% will come to us Premier shareholders so we will hold these shares plus our ring fenced Circum shares which TBH is beginning to gain some traction. watch this space in early 2019!! Valued at $10M at present.

Prior to this event materialising NewCo needs to raise $6M Hmmmm I wonder how they are going to do that? Looks like probably part debt equity/placing? Probably the former.

No indication that George will be the CEO of NEW Co Lets hope not and of course as shareholders perhaps we will have the option to vote on this? IMO he is too old to effectively undertake this role!!!

So now we will have shares in two companies One effectively a shell CIRCUM and a value of $30M

Today it has been carnage and we are now valued at £11M. The Zimbabwe govt owe us $20M. Hell will freeze over before we see that.

Lastly

This all has to be voted on
The MOM have to let us have our 90% at what price Cancellation of debt?
KME have to raise $6M

So all in all The fat lady isnt singing here yet but she is in the wings waiting to come on!!!!

E mailed his nibs as the 48 hour extension seems to be a lot longer.Did he mean to write four to eight days

Today! TBH I have been in and out of this for ages.Still need a doubles to break even and whilst George is unique I am hoping for a good outcome this week. One thing I haven't done is looked at Danikil CIRCUM but took some time out today to review article in mining weekly. We currentlh hold ove 5% here. A private limited potash company in Ethiopia. Can anyone remind me how much our holding is worth at present. To prevent another placing we really do need a jv for RHA so hoping for an announcement on this imminently.As for the Zimbabwe govt they owe RHA $20M so if we release them from this debt to increase our holding too 90% what should this alone value us. My guesstimate is circa £40M ZULU is something else.The third/fourth largest known lithium deposit in the world so again if we obtained a strong jv this could be mental. Dependant on RNS tomorrow we could quickly go to 1p in double quick time Any views?