Member Info for CF73

Today's RNS was cleared by the NOMAD. Therefore they agree that there unauthorised, arbitrary selling of FRR shares. They have the expertise and the specific role as NOMAD here to understand and know that to be the case. YA''s reputation is on tatters. The entire industry brought into disrepute.

....meant Bugsy's find and not YJs (regarding oil auction in Georgia)

I'm confident we've paid. Not just cos YJ said but today's RNS confirms it for me. Results due very soon, and along with YJ's find, things looking considerably improved

That bugsy find was crucial. Think FRR have advanced further than folks realise/ that we are being told (for the moment)

Mole, thanks for response. Personally, I believe YA have undertaken the illegal practice of naked shorting and have got caught. That said, I'm less interested in the short squeeze and more focused on our strengthening position, including clearly that we've been paying our debt down

Clearly no one would be stupid enough to short from here now, so looking good going forward

That's crazy, YA have to close those shorts by buying on open market. Suspect they've done some of that already but what they did was illegal and they've got caught. Completely in the open with pants down. Think news regarding the majors can't be far off.

Agree completely that FRR are confident about where they are and what they need to do.

I wonder if this is a sign that those deals are about to be signed?

We got to be cracking 0.40p shortly...

The results are very good and may well have an impact on the mine plan, in turn the PFS.

That's perhaps part of the problem. But the PFS has to be seen as a living document. Release it and add and amend later, if aspects change and improve.

From the RNS, we can deduce the payments are being made, hence stating share issues were unauthorised YA over a barrel, would be great to see them cancel the debt to be let off the hook

Very true RHA won't be generating profit quick enough and sufficient enough to drive us forward on ZULU DFS work in the way a JV would've. But Barra Report and drilling and survey work critical for showing prospects there and getting a JV, with initial partner buy-in capital usable across portfolio (just need to sort ownership). CIRCUM IPO not far off. Once that happens, we know we got the money coming (eventually)

Issue of naked shorting and bang out of order

Moving.... :-))

Aren't results out soon?

Will that not make things clearer?

YJ posted that company that cash payments were being made

KDNC could not afford the deal -- and not because Zulu was overvalued but they were unable to raise the funds. They're overstretched and their SP has taken a hit over weeks. I wouldn't be surprised if they put in a 'lower bid', but if they did it would not be because of PREM. They just didn't have the ability to carry through in the terms agreed - terms that had, in my view, put a fair value on Zulu, at this stage.

Crystalball, KDNC didn't have the money - very simple.

If you read their RNS, they describe their current strategy while walking away from Zulu, a project that likely fits that strategy more than the vast majority others out there. I had to laugh.

Anyway, it'd done now.

As with Strongman, I picked up that this deal not working out was 'internal issues' & 'issues of funds' at KDNC. Completely out of PREMs and GRs hands. Know folks are angry and have a right to be. But seems today's news was not due to the team at PREM. Took the hit like everyone else. Have had a couple of conversations with the company. Not much else to do but hang in there (removing GR isn't going to help, no matter how much it might feel good)..

chippy, LOL, ain't going to disagree that GR's turned this into a turd. I have no problem with calls for his resignation. It's right. But with PREM where it is, not sure that a new CEO can make a difference so my own position is to try to ride out this storm.

Circum IPO would enables us to unlock the value in our CIRCUM holding, and I think that was the idea for a log time.

But its been too long a wait, in the meantime the SP has dropped these levels.

If CIRCUM can float soon/IPO, then all best are back on. Keeping all of Zulu to the point of completed DFS puts us in a very strong position. But it means waiting for a but longer.

Again, been a tough day!