Member Info for CF73

Revenue not an issue. Bang out DFS and sell ZULU + EPO for a cool $$$Billion.

From the Baconara website, Sonara project has 5million tonnes LCE (measured and indicated) and further inferred resource of 3.7million tonnes. 8.7million LCE total. It is a true monster.

Zulu + EPO, if we assume comparable grade, density and general quality throughout, scaled up, could potentially have upwards of 72 million tonnes LCE (compared to Sonara with 8.7 million tonnes, including inferred), with the Zulu EPO LCE tonnage derived from potentially 6.8billion tonnes of ore. It would absolutely dwarf everything!

As already noted, a lot of work to do post EPO to prove this up, but have geard that the EPO area is 'excellent', including containing materially significant gold deposits.

Is great to have so many of the old school crew posting again (and no, not talking about chippper or CACKER).

Keep it coming folks { / : ¬ ) X ><

Now that is interestimg Robbie, thanks hugely!

ODR said he had something confirmed to him but it seemed to be a different response to yours...

ODR, you about??

Thanks MadP, I get where you are coming from now.

Good luck to us all!

3. PREM's Zulu Main Zone and New Zone target of 120million to 160million tonnes (compared to Pilbara’s 108million), where Scoping study on 20million tonnes at Main Zone has found 213,195 tonnes of LCE.

If we scale up, based upon assumption of comparable grade and quality throughout, the at bottom end of the Main and New Zones ore target estimate (120million tonnes) then x 6 (from 20million tonnes of ore from Scoping Study area), then we get 1, 279, 170 LCE (remembering this is an estimate at the bottom end of the total target ore for the two zones)

With Zulu Main and New Zones, we are absolutely on a par with Pilbara Minerals.

Critically, this is before we get to start talking about Zulu + EPO area. We go from 3.5km to ‘…an extended area of 20,200 hectares’.

https://www.investegate.co.uk/premier-african-min--prem-/rns/final-results/201907010700089320D/

20, 200 hectares is 202km2 i.e. 202km2 for EPO area compared to 3.5km2 for existing Zulu project area

So, the EPO area is 57 x bigger than the current Zulu project area.

What does that to the overall Lithium project and programme numbers?

Ore of 120million tonnes for existing Zulu project (bottom end), x 57 = 6, 840, 000, 000 tonnes of ore.
Regarding LCE, 57 x 1, 279, 170 LCE (possible LCE at Zulu Main and New Zones) = 72, 912, 690 (compare that to Bacanora’s 8.7million at Sonara). Naturally, a huge amount of work still necessary post-EPO prove up.

When I spoke to the company 6 weeks ago, before the current run up in sentiment, they weren’t prepared to say a huge amount other than to explain they were “…really excited about Zulu right now.”

I’ve done this to give a sense of the potential significance of Zulu and, particularly, Zulu + EPO to PREM, to Zimbabwe and to the Lithium sector.

But folks got to do their own ruddy research and come to their own conclusions,

Thanks again to tedoby and good luck to all the genuine folks!

Taking inspiration from tedoby's earlier work, I have put together some details comparing the size of some more than notable Lithium projects.

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Bacanora's 'Sonara' Project

"With an Measured plus Indicated Mineral Resource estimate of over 5 million tonnes (‘Mt’) (comprising 1.9 Mt of Measured Resources and 3.1Mt of Indicated Resources) of lithium carbonate equivalent (‘LCE’)[i] and an additional Inferred Mineral Resource of 3.7 Mt of LCE, Sonora is regarded as one of the world’s larger known clay lithium deposits."

https://www.bacanoralithium.com/projects/sonora-lithium/

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Pilbara's 'Pilgangoora Project'

"Reserves"

"In September 2018, Pilbara Minerals increased the Ore Reserve estimate published in June 2017. The expanded Proved and Probable Ore Reserve now stands at 108.2 million tonnes grading 1.25% Li2O (lithia) and 120 ppm Ta2O5 (tantalite) and 1.17% Fe2O3."

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PREM's 'Zulu Project' Scoping Study

20,112,736 tonnes of ore.
213,195 of LCE

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/PREM/13437914.html

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But then consider that the Zulu Scoping Study was for only 20million tonnes, of the 120million to 160million tonnes across the Main Zone and the New Zones (with the company saying; "The New Zone has the potential to exceed the projected target")

https://www.premierafricanminerals.com/zimbabwe/zulu-project

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In summary:

1. Bacanora project, "Measured plus Indicated Mineral Resource estimate of over 5 million tonnes (‘Mt’) (comprising 1.9 Mt of Measured Resources and 3.1Mt of Indicated Resources) of LCE" plus "an additional Inferred Mineral Resource of 3.7 Mt of LCE"

Making 8.7million tonnes of LCE

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2. Pilbara's 'PILGANGOORA project'

'Proved and Probable Ore Reserve now stands at 108.2 million tonnes' and '...estimated 1.36 million tonnes of contained Li2O'

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I still cannot understand how HSBC/IG paid out. Doesn't make sense. Whatever theory is provided, it remains unclear to me as it doesn't stack up. You pay your money and take your gamble. That payout, to me, only serves to highlight a rigged market/ system.

MadP, just a quick question; earlier in this thread, you said;

" The ADR then becomes about how much FRR gets from SH/O..."

At best, the case hasn't been clear cut in terms of judicial/court interpetations; at worst, it has tended to go against us a bit - even though many of us (me included) believe that there is a genuine case for Hope/OMF to answer for. What makes you believe this is not just a case of settling the matter reasonably so that everyone can get on with their work/ lives? I ask as your comment suggests that we are in a very strong position but to it doesn't seem that obvious (though I believe we have secured Block 12 otherwise we would know)...

Some of the calcs are mind blowing. If there's a buyout close to a£1 per share , then looking at buyout at multipule $$$billions$$$ -- if that were the case and it happened, then many folks will be wishing they had more locked in here...

Once ADR done, maximum 6 weeks to wait, we can begin to try to understand whatever outcome.

[Continued...and importantly]

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"Lithium mines in Zimbabwe

Despite having only a single mine, Zimbabwe is the world’s fifth largest lithium producer and Government has designated the mineral as one of the minerals expected to drive economic growth in short to medium term.

Other lithium projects in the country include Bikita Minerals (already in production), Jimbata’s Kamativi lithium project and the Zulu Lithium project near Gwanda, which are now at different stages of development."

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Snowking, actually, yes, SP is 0.10p to 0.105p (the 0.95p showing following a very small uncrossing trade late Friday).

A list of useful news, info and analysis:

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Premier gets EPO for Mat North projects Engineer Polite Kambamura

"GOVERNMENT has granted Premier African Resources an Exclusive Prospecting Order (EPO) for its Zulu Lithium and Tantalite projects in Matabeleland region."

[...]

"Mines and Mining Development Deputy Minister, Engineer Polite Kambamura, confirmed the acquisition of the EPO by Premier African Minerals to ZBCtv news."

"Yes, I can confirm that Premier Mineral Resources managed to get an exclusive prospecting order to kick start the mining of

"This is in line with the Government Mining Development Policy and Zimbabwe is open for business mantra in order to be able to increase mining output."

https://www.chronicle.co.zw/premier-gets-epo-for-mat-north-projects/

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"Premier African Minerals Limited ("Premier" or the "Company") notes the recent comments in a number of Zimbabwean online news sites relating to the current status of the exclusive prospecting order application ("EPO") made by the Company's for its wholly-owned Zulu Lithium and Tantalum Project ("Zulu")."

[...]

"The Company will notify the market as and when the Company receives written communication pertaining to the status of Zulu's EPO application."

https://www.investegate.co.uk/premier-african-min--prem-/rns/zulu-update/201910020700064296O/

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Lithium interest jolts RioZim to action

"RioZim Limited plans to upgrade its Empress Nickel Refinery so that it can start processing lithium given huge investor appetite to exploit [...]

https://www.sundaymail.co.zw/lithium-interest-jolts-riozim-to-action

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"Zimbabwe has potential to meet 20 pct of global lithium demand"

https://www.reuters.com/article/zimbabwe-mining/update-2-zimbabwe-has-potential-to-meet-20-pct-of-global-lithium-demand-idUSL8N1QI2ID

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https://www.sundaymail.co.zw/mining-giant-bullish-on-zim-dollar

[…]

“Lithium demand

This comes as Zimbabwe is poised to reap huge dividends from exporting electric vehicle (EV) batteries lithium, whose demand is expected to soar as demand for battery-powered cars continues to grow.

Demand will be driven by rapid expansion in the lithium-ion battery industry, as world demand for hybrid and electric vehicles, energy storage systems, and high-drain portable electronics continues to grow.

Lithium mines in Zimbabwe

Despite having only a single mine, Zimbabwe is the world’s fifth largest lithium producer and Government has designated the mineral as one of the minerals expected to drive economic growth in short to medium term.

Other lithium projects in the country include Bikita Minerals (already in production), Jimb

Agreed MrMagoo,

There was some chap on Twitter slating PREM on Oct 1st, when the SP was 0.031 or thereabouts. They still slating PREM,expect the SP now 0.095 (actually, it was a small uncrossing trade that drappged it down below 0.10p - so expect a very good start tomorrow morning!)

chip, the pint am making - which seems to have alluded you - is that, once again, he is bullish when he is in and trolling when he is out. When I am out of a share, I do not return to deramp/lower the price. Call me old fashioned me ol mucker, but I believe in being generally consistent in one's position on something, being here a stock. You either believe in it (though prepared to be constructive about issues) or you don't. But being all for it when you in and toxic about it when you out, isn't a character trait I admire. But as I said, may be is cos am old fashioned and behind the times.

C-ACKERyourPants, you worse than chirpy. You a known self-admitted trader here: bullish when you in, trolling when you out. You disingenuous as feck.

Looks like you sold but worried we open with a strong start tomorrow. Is a shame for you :-))

Not sure if GR present but doesn't necessarily have to be. The Oct 14th Government event enables formal approval and release of news confirming granting of EPO to PREM.

Zim government are doing this as a mass exercise in PR to demonstrate progress, with PR being fit both domestic and international audiences. These EPOs are critical to Zim's future prosperity, especially considering the dire straits of the economy and daily struggles of the ordinary zim folks.

Chip, you still not saying that you haven't said over and over (apart from being prepared to be bought out).

Regarding shopping sprees, am just as pi ssed off. But is done in my view. Nothing to be gained by fixating on it

If you are invested, then clearly you don't mind when you get your money back. Can only conclude that it's no longer a meaningful amount, otherwise you be screwing and pushing for the company to make progress.

Chip, I have always acknowledged problems and failures here. This is about looking ahead after those historic issues. Just you haven't changed your tune, not for one moment.

Doesn't matter what you say on the matter, many long term holders (and we talking decent ordinary folks here) see you as something standing against their interests - you of no help to them.

So the questions I ponder is, just who are you helping?

- Newbies, trying to get in at bargain levels but who need your knowledge to stop them from doing so?

- LTHs who already know the back-story but who need double, treble, quadruple etc to breakeven??

Or;

- Yourself??

Chip, your posting does more to deny LTHs a recovery after years of being massively under than holding the company to account. Have come to know some of decent folks invested there. You operate against their and others' genuine interests to be able to move forward. The company is making material progress and repositioning itself. You not interested whatsoever.

If you shorting or trading, then be up front about it and own it. Otherwise your behaviour is not logical and am left to view your incessant trolling and false pretences as a disgrace in light of the situation of the many ordinary folks heavily invested and underwater here.