Member Info for CF73

ChinaBlue, agree with much of what you say but I don't think its the end of if we say tet have secured a deal. We just don;t what's going on. WE know there are discussions taking place, for both JV at RHA and for offtake but whether or not hese can be concluded before the investor show remains to be seen. My concern was that PREM has an extremely 'troubled' image at the moment. Taking no new progress to the investor show won't encourage any new investors whether, as previously said, PIs or otherwise. Even NIEEF news sets us up extremely well. Regarding whether we need listing, from what others have gathered from the company, it doesn't apply to us (i.e. we aren't required to list) but if we did list at some point it might be advantageous. News next week I believe.

Agree that GR needs to have some kind of news out before the investor event as, more than anything, he won't be able to gain any traction with company PR given mess. Potentially interested investors won't be interested. Unlike some, do believe he should be attending and it's right that he does - we need more investors, whether PIs or high net worth folk or even IIs, coming board ie new blood. Buy like many, won't have a chance unless he goes armed with news of material progress. FWIW, do think we're in the cusp

If Zulu was separated, current PREM holders would still receive a share in the spin off. But it all possibly hinges on the deal with RHA. If that is even half decent, then we have enough working capital to continue the current programme until RHA is profitable. Still in my view a major thing that PREM in a period of radio silence the likes of which I've never seen before (i.e. they're being extremely careful!). NIEEF news to come any time still

GR meeting with circum is good but I'm less bothered about that to be frank. RHA is the key to unlocking things at PREM. Should be hearing from NIEEF soon. Then RHA JV in quick succession?

Wolfers, again, not experienced this kind of radio silence from PREM. So could well be a matter of days.

Still major radio silence at PREM.

I had Circum IPO down around Sept. But not concerned about that. Nor Zulu listing at this moment. My main focus is RHA. Want to know about NIEEF discussions and about JV. It's possible that the right deal at RHA can unlock capital and value, including other areas of the PREM programme. However, further investment will still be needed. Let's see what news there is in the coming days/weeks. Take it from there.

Carzy, you must be being paid a good wedge to be here. There are all sorts of jobs in this world, I guess someone has to do it.

If news due very soon then the recent radio silence makes every bit of sense

Randomaxe, I don't want a raise in the share cap and have made my feelings clear to the company. I do believe though that with RHA a share cap raise is not necessary. The capital we gain from that RHA JV should help with work on ZULU until we're profitable at RHAand then have a steady source of working capital. I take it as a solid positive that we're engaging off-take partners for RHA through Brandon Hill. It demonstrates that RHA can be viable and will produce again. Of course, we await the specific details.

Related to RHA discussions, thee have been a number of site visits already and have been an ongoing thing for a little while.

I go back to what we already know from company comma and what I've learned from my own enquiries; We're in discussions with NIEEF for the 90%. Discussions are at advanced stages. As per RNS, "We are assured that the current procedural delays will not persist." Once we have the 90%, as per RNS, we have the means to bring a JV partner in. What I understand from enquiries is that the JV partner would provide an initial lump sum for a proportion of the project - that proportion would come from percentage we get back from NIEEF. No share raises are required in regards to this JV. The JV partner would also provide working capital and help operate the mine. Brandon Hill contracted to find off take partners. They are bringing the market to PREM (thanks to other posters for providing some further detail to this). This creates a neater package in terms of RHA, with the JV partner and off take agreements in place in due course. There may be some change to this picture in the weeks ahead but this is what I've understood. There are other things going on, I believe. PREM have, unusually, entered m a period of radio silence. While some folk have received responses to emails, most attempts to contact the company have not resulted in a response. As a few have said, the coming days and weeks will reveal something significant. Good luck to all genuine investors and folks!

If RHA can be turned to profitability, then proceeds will be turned to developing RHA. Yes, a lot remains yet to be seen but this is an important couple of weeks where the nature of the RHA JV deal will immediately tell us how everything could be pieced together.

I see it completely possible to get RHA progressing without a share cap raise required. We are in discussion with NIEEF to get 90%. We can relinquish some proportion of what we get back to a JV partner. In turn, we get a lump sum and capital and expert partner support with developing RHA. In turn, the lump sum nay be used to progress Zulu. We may ultimately need to raise the share cap to complete ZULU to DFS but it won't be to the extent implied by some. Also, BH bringing in offtake partners is BH bringing the market to us.

*JV partner

It's worthwhile remembering that we're still in discussions with NIEEF to secure 90% of the project. Some proportion of that additional share of RHA we get back will definitely given to a JC partner. There isn't a need to raise the share cap when we have, potentially, the mechanism for bringing in the JV party - one which won't require further share issues, at least where RHA is concerned. If BH have been brought in for helping us with offtakes, then great. That would possibly be the 'consortium of interested parties'. But again, i don't see where a share cap raise comes into this. They pay us for what we produce. We mine, produce and sell - they buy what we've mined and produced (according to an set of specific terms)

God's, there's nothing to read into KIBO and NCCL CEOs being next to each other other than its a panel discussion around power projects. There aren't necessarily too many of these comparatively advanced programmes, so you could imagine that there would be times when they both would appear on a panel discussion as part of the same programme... What I would read into it is that the Belt and Road initiative is serious and there are numerous projects being realised. FWIW.

There's a phenomenal amount of detail to projects and deals like this. Have seen elsewhere how long they can take. Helpfully, the key listed milestones give us an idea of the timing of key progress and the overall time line. In agreement too that the length of time taken so far, with the radio silence, is an indicator of good progress attending to all the details. Folk will have to weigh up for themselves however. I see it as a positive. They will get back to us when they're ready.

curo, thanks immensely for your considered and thought provoking post. You rightly paint a complicated picture. Your breakdown shows that you have many years of investing experience (which you point to) and, perhaps, that you have additional insights into PREMs situation. I also agree regarding your comments on Carzy. I too have noticed that he's become less desperate and confrontational and more measured. It seems he had done what he can and result from here will be what it is. By the way, there was not a ramble in sight! Wishing you the best of health :-)

curo, fair comment, but in the absence of news and any kind of clarity, and a struggling SP to boot, it's been difficult to do anything else... Would welcome your thoughts curo - genuinely :-)