Member Info for CF73

Thanks to everyone who responded.

I got in touch as clearly there is, at the moment, a potentially shared destiny via Zulu. And if it goes ahead, then of course, that potential is made concrete.

I must respond first to Dallasdaz, who says, "Why would PI's buy into KDNC's possible 30% of the Zulu project, when they can access 70% of it through PREM."

It is true that PIs can get that increased exposure to Zulu by investing directly in PREM. But this JV deal is about KDNC buying in to ZULU, specifically, to enhance its own SP over a nearer time frame than might happen with other projects. KM has pretty much said himself.

To Frankie, you say, "I do not want my investment to be swayed by the needs of shareholders in any other companies". Understandable. But I think it would be fair to say that the needs of PREM shareholders are not at the forefront of KMs mind. Indeed, I'd be shocked if they were. And yes, I would like to see the deal go ahead. And yes, clearly PREM could do with this deal. But it's clear to me the deal would benefit KDNC too (clearly KM believes that Zulu can be turned around quickly enough to meet his ambition of necessary quick wins for the KDNC SP).

I'm not here to cause any trouble. No ulterior motives. Was struggling (as many others) in trying to get a sense of the likelihood of the deal going ahead.

Appreciate folks' responses.

Good luck to all here!

More buys than sells yesterday. And MMs can hold a certain amount of shares (there a percentage limit in terms of shares in issue in a particular stock), but they would rather than not. The point of MMs is to make the market, which means they have to inevitably hold some amount of stock (there isn't such a thing as a buyer for every seller except in the sense the MM takes them and then passes them as quickly as possible). Holding too many is definitely not preferred though, especially where a stock may be experiencing low volume. And if there's bad news, then the SP can open upwards 70% down, allowing folks to sell because MMs know they can sell on in the rebound. If there's likely to be few buyers, the can be difficult for PIs to sell anything. Anyway, there were more buys than sells yesterday, including the 8 million and 22million buy trades appearing literally at the close of play. Seems possible the same party, but even if not, you don't punt that much unless you have more than the usual level of PI optimism. Let's see.

chippy, again, you got a right to be angry. Lots of folk do. But in talking specifically about Zulu and KDNC, I'm not sure this qualifies as just any one or any old deal. And also that it places a reasonable current value for the project. KDNC have already said they have rights - if they go ahead with the deal - to market Zulu product this will sort the sales issue out) and that they are very much concerned about moving Zulu as quickly as possible through DFS and into production. This deal is very much about fast tracking the project. To me, any delays we've had lately in drilling is made up for if this JV goes ahead. However, seems folks are unsure about whether this deal is going to go through. For me, both PREM and KDNC need it. If it doesn't go ahead, I'd want to know why. That all said, agree, his record to date does not make pleasant reading. He still has some way go to prove himself.

Thom, true the interview was a month ago but the fundamental reasons for exploring working together should not have changed; that is, the Zulu project has enormous potential and KDNC has lithium expertise and could bring the money to see us to DFS, in turn benefiting both parties.

But it seems the consensus is split, perhaps even erring towards the deal being off??

Would be surprised if we don't get an RNS Monday, whichever way it goes.

HI all

I'm a PREM holder crossing the boards to get a sense of feeling regarding KDNC's interest in ZULU.

From what I could gather, especially from the two interviews involving Kiran Morzaria, it seems Zulu was a perfect fit. A very large project with good if not great grades that had relatively low CAPEX abd production costs and that could be fast-tracked through DFS and towards production over a period almost unrivaled anywhere. And with the new special vehicle company set up for Zulu, would have that direct project control and influence.

It's a proposed deal that seems to me to serve both parties well.

My thoughts regarding the deadline for DD were that we would likely get that RNS early next week, and that no news today would mean the increasing likelihood of a deal released to the market next week.

But it seems as if some folk don't this is likely to happen (though not necessarily substantiated in any way - though neither mine, given the news void)

I'd be interested in others' thoughts...

chippy, you got a right to be fed up. Too many folks have.

I'm in the following comment you made;

"If there was a better deal in town we would have been talking to them no cadence."

I'm not sure why there needs to be a better deal. The deal in my eyes was good enough. Unless you believe - or someone believes - that we should have been giving up less of the project (instead of the possible 30%).

As far as I am concerned, the KDNC deal was good enough. I would add, having looked at the KDNC a bit closer, that they need this deal. I posted links to a couple of interviews, including on Vox Markets. The Vox Markets one was revealing, with KDNC CEO basically admitting that their SP hadn't done great and that they were on the lookout for projects that could be turned around a lot faster. ZULU fitting perfectly -- and this is the draw with Zulu: it's a monster project requiring comparatively low CAPEX and with crazily low production costs. KDNC CEO even mentioned wanting to move Zulu as quickly as possible to production. What KDNC are missing from their portfolio is a project not only with the right metrics but that can be monetized sooner than some they are currently invested in.

It was also interesting to hear the KDNC CEO saying that they'd heard about Zulu but weren't prepared to consider it due to Zimbabwe's political risk. But that that has now changed.

But at this stage, no one knows for sure the outcome of the due diligence. All of this may come to nothing.

If there is no deal, given both parties seemingly need it, I would like to know, as I'm sure many others

Good luck to all of us.

This one year gap in drilling would become insignificant if the Zulu deal happens. But naturally, we wait to see the outcome.

Chippy, I don't understand why not hearing today means the deal hasn't been closed. It may turn out to be the case that it hasn't worked out. But I'd be hugely surprised. KDNC need it as much as PREM (for reasons already discussed). DD to be completed by today but in my book the RNS didn't need to come today, unless it was one explaining that there was an extension or that it was off. Others have explained the implications for GR if this turns out to be another fobbing off of PIs Either way, very VERY likely that we get an RNS Monday morning (would require serious extenuating circumstances for there not to be)

At no point ever did I say news would be out today or at any specific point this week. You must have me confused with someone else me ol mucker Youhavenoclue.

Youhavenoclue, guesses and estimates? I had said I'd spoken t'company, which was true and not and estimate or a guess ;-) The company told me they were confident they would be able to stick to the deadline. I relayed this back to this BB, which was true and not and estimate or a guess ;-) I said also that if the outcome of KDNCs Due Diligence (DD) was positive, we would not necessarily hear today. Today was the deadline for DD and that unless there was an actual delay or major problem, not hearing today meant we were more likely headed towards a positive RNS next week. It turns out we've not heard yet about the outcome Your welcome Youhavenoclue ;-))

Those were buys, orders being filled though the course of the day.

Late trades, buys totalling 30million

Fitzy, my comment comes on the bell, meaning my so called ramp couldn't have swayed anyone. Anyway, it was a said with a huge dose of irony . Gor bless yah, whatever you do.

To be frank, to be fair, no RNS by today suggests this is a goer and that Monday could be one of those moments that finally justifies you saying You wouldn't want to be out over the weekend!

If we haven't heard up till now, and although can't count our kitchens, it's got to be positive news?? Monday morning RNS looks nailed on to me. Good luck all!!

Too many typos I'm last post (typing from phone). Anyway, KDNC don't want to walk away from this and don't think they can afford to given market expectations and their struggling SP. Good luck all!

KDNC would indeed be bonkers to turn this amd have said they are after some they can take production as quickly as possible, something that will impact their own sooner. Zulu is this. Only a year required to DFS and then draw in funding to build the mine. This is better than anything KDNC have in their portfolio.

Their CEO has said they've known about Zulu for a hwile but the political situation in the country prevented them from investing - and to add to that they value GR relationships with the authorities and the right people.

Great post as always tedoby!

RHA being profitable would play as massive role I'm Zulu development but injection of capital by KDNC is still extremely valuable. Interestingly, KDNC don't need to invest whole $5.1million. It's done in stages. So theoretically, KDNC can support until RHA up and running. But KDNC still a massive benefit. Let's see

Likelihood of intraday RNS??