Member Info for CF73

You're over-baking and twisting for the purposes of your deramp

No one said we were going to get Russian money. I definitely didn't. Rather lame ass twisting of words. Read my post again.

"That portion of the article gives a general but helpful sense of the significance they are placing on international investment."

As in, we - PREM etc - are international investors bringing international investment.

Thanks for that knicol.

-------------------------------------------------

From the article:

MOSCOW (UrduPoint News / Sputnik - 16th January, 2019) Zimbabwean President Emmerson Mnangagwa invited on Wednesday Russian businessmen to participate in developing a number of his country's industries, such as mining and tourism.

"We are cognizant that foreign direct investment will play a major role in facilitating economic growth and development to achieve our vision to be a middle income economy by 2030 [...]" Mnangagwa said during the Russia-Zimbabwe Business Forum in Moscow.

-------------------------------------------------

That portion of the article gives a general but helpful sense of the significance they are placing on international investment.

We have the Dec 24th PREM RNS on potential injection of government funds inot RHA and the also the Jan 8th news article where the respective Minister discusses negotiations with PREM over RHA, where they are looking at the exact sum in question.

Looking foreward to news -- and let's face it, we do need it!

Good luck to all genune holders!

On the matter of a replacement NOMAD, we know that date by which we need them to be place before delisting. I wouldn't be expecting to hear anything this soon nor would I be expecting comms from FRR about any of this until they are absolutely ready, not even to 'calm nerves'. Just the way it is. Too complex and sensitive.

Moljen, I am basing my views on news releases. See RNS and that news article that I've posted.

seaace,

Whether we get 90% or a capital injection, at least we are getting something back that can account for what we put in and help to 'resuscitate' RHA - as well as help us place a value on RHA. It remains to be seen what the amount is. But we have an RNS and an article discussing the very possible injection of government funds.

It's up to folk to judge that part for themselves.

In regards to NewCo and if whether we have 90% or get cash injection for RHA, doesn't matter so much. Either helps to ease us going forward. Certainly, we know - and this is a fact - KME and PREM are pressing on with NewCo regardless of those other discussions.

Very possible we could hear something next week...

His point is fairly obvious -- it is to bash the company.

We are on the cusp of hearing about the injection of government funds but instead we have folks saying absolutely diddly squat about it.

Premier African Minerals Limited ("Premier" or the "Company") is pleased to report that the Company received a letter on the afternoon of 21 December 2018 from the Minister of Industry, Commerce and Enterprise Development ("Minister"). The Minister has asked for some further clarification on the history of Premier's involvement and the restructuring of RHA Tungsten Pvt Limited ("RHA") and includes a statement that the Zimbabwean Government is willing to inject funds required to resuscitate RHA.

https://www.investegate.co.uk/premier-african-min--prem-/rns/rha-update/201812241000014292L/

------------------------------------------ and also;

Speaking by telephone from Harare, Minister Ndlovu said the Government was in a partnership arrangement with Premier African Minerals in the project.

“We are partners in that project where the Government holds 51 percent shares, so apparantly the operations have stalled because there is need for capital injection. It’s not much, I’ll not be able to disclose the amount now. We are still negotiating with them (Premier African Minerals) and we also want to verify if that is the exact figure (from Bara),” he said.

https://www.chronicle.co.zw/government-to-fund-premier-african-minerals-project/

Hope tedoby doesn't mind. Am reposting his earlier overview of the funding situation:

------------------------------------------------

From an insolvency practitioners point of view you should have no near term concerns such you're alluding to.
Although the Insolvency Act is complicated by necessity and no where near as simple as I'm suggesting here a layperson ostensibly need only consider two tests .

Firstly a company's ability to pay it's debts as and when they fall due. Regardless of cash in the bank Prem will not be left wanting in this test as I'm sure you can imagine . Prem has several ways to raise many times the cash it needs in the current outlook. Although releasing equity or a placing if you prefer to call it that is one option it's unlikely to be the favoured one at the moment. There's no doubt in my mind Prem will want to see what's in the MOI's mind when saying in his recent letter that the Government is willing to inject funds into RHA before making any decision on raising cash.

Prem is asset rich and has no debts or near term liabilities it can't satisfy. It is able to liquidate a more that adequate proportion of it's assets to raise cash should it needs to. But here again I very much doubt we'll see the BOD's having to resort to using too much if any of this option either unless it wants to by choice. If you want any further reassurance on the point you need look no further than Prems independent Auditors statement in the year end accounts where he concurs with my views.

And secondly is the comparison test of overall liabilities vs a reasonable assessment of assets or balance sheet test as it's often called. Even with RHA fully impaired and the other assets assessed at a minimal value Prem sails over the bar in this test. I don't think there much need for me to go into the details on this one with the conclusion being so obvious.

So unlike some might fear and others might want to use it to be mischievous the reality is in Prems case cash is not a measure of viability and neither is the company's market cap as low as it is if that's another one of your concerns.

Sell or buy clearly it's your choice. But if you are thinking of selling for the reasons you're alluding to you could do worse than take a closer look at what I'm saying. Prem is not for the feint hearted or the impatient that's for sure and weak holders appear to be selling amongst the traders. On the other hand the upside for both Prem and Newco is huge as I see it.

AIMHO

GLA genuine holders.

On the matter of 'unrest' in Zimbabwe, don't believe that has any consequence for us. Whatever delays is down to whatever earlier changes in political establishment and subsequent bureaucratic issues.

Thanks tedoby for that detailed post around debt, liabilities and PREM's options going forward.

The trolls and derampers are hard at work right now as it's come to that time of the year when some folks need to sell shares for tax purposes. As a result, it's traditional this time of the year to see an additional dips in stocks. I know as I have had to sell soem shares elsewhere to meet my own tax obligations and am aware others are too. The trolls and derampers are riding this wave.

News not far off in my view. Good luck to all the genuine holders!

The CEO loan if turned into equity wouldn't be a problem like if it were it a Darwin related raise. Any shares that GR gets goes into sticky hands and aren't immediately sold back into the market.

At this moment, we have no debt. We have no lenders pushing us toadministration etc. We have options regarding how to raise money. News isn't far off.

Stop being so alarmist.

We're not in danger of going bust. There are multiple routes by which we can raise funds. Remember that RHA is on care and maintenance, salaries reduced, with ARCM potentially possible to sell down, director loan -- definitely see no fund raise via equity from these levels.

Gordon Benitez!!

Badgernator, whilst we have to accept that until we have news, we do not know for certain anything, we do not have loans and related obligations to meet, as is/was the case with Flyb. So the comparison is not correct.

We have stakes elsewhere in other companies that can be sold and GR himself could arrange a personal loan to the company.

As difficut as things have been, we are far from a 'lights off' situation. The fact we do not have a loan/debt to service is crucial.

Given the difficult situation we are in, not good to joke about this fellas. So please do be clear about this.

Timster, is that a 'guess' or have you had some indication from elsewhere?

Thanks.

Regarding the matter of taking a controling stake, this will be very hard to do. The last conversion took him from 7% to --- wait for it ---------------------- 8%

xtra, I've been critical enough of GR and failings of PREM. And I'm grown up enough, thanks. The irony. When you have people on here continually slating the company and GR, with absolutely nothing constructuve to offer, going on about him stealing assets (when he has ample chance to steal with the example of ARCM), about pringle shirts, about him going jollies abroad etc.

...if GR was going to pass on assets to a mate, he may as well have taken that ARCM stake as opposed to converting his stake to shares - after all, by that loan agreeemnt, he was entitled to.

What are wanker you are chippy-on-the-shoulder.