Member Info for CF73

Think this is a wind-up

Respect to you Future, I know you been supportive of the company in the past and have a right to be unhappy (as do most). Do think we are moving forward now (even if it seems a long way!)

BP need to take a medium to long term view. The BP share price is less important (to especially the large holders, which will include pension funds etc.) than profit and dividend (though the two have connection - meaning SP and profit - they are not directly interlocked).

Truth is we can't know at this moment what is going on with BP, except we know that we have been working with BP as a result of the NDA being mentioned in the court papers. Their divesting of Alaska (and freeing up funds) is not a bad thing for FRR, is all that can be said for sure where FRR/ our interests are concerned.

If FRR don't want us to know, they can't keep this under wraps forever. Something will come out in the end, so is in FRR interests to arrive at a point ASAP where they can feel secure enough to release info.

Given the issue price, I think is in PREM's and MNH's interests to get the PREM SP up to and above 0.045p as soon as possible.

That would be a good start from here (i.e. ZULU EPO news due)

If I remember correctly, owing to our own market cap, we couldn't take a more strategic position in MNH as it would have consitituted to reverse takeover and meant a necessary suspension in trading - for whatever period - something that would have affected operations across PREM. This is what it had to be a loan. But am of the view that this relationship with MNH is towards that strategic position/stake/purchase. But happy to be corrected.

Future, agree issue price has always been the same. Am just meaning that we are below the issue price right now and so selling those shares now, below that price, means they would not be getting the benefit of the full loan (though they will have agreed to that amount and are liable to repay that full amount).

Regarding the other issue, fair comment.

Was clear this was always a loan. Usefully, we are currently under the issue price so the SP needs to rise before it's worth selling and even then has to be an orderly market.

We should expect more PR and Comms as folks across corporate world ahd markets return from holiday

My main interest is the news around EPC and O&M, Tariff and PPA. On Tariff announcement, we'll hear about historic back costs and subscription (Developer's Premium). Total could be upwards of $100 million (compared to current market cap). Believe strongly they will be on track.

Accumulation ongoing, free float continuing to dwindle. Don't think MMs necessarily have excess shares to get rid of. Folks have been slowly while SP in these lowly regions. Word following JDA will have gotten out. Folk money will have wanted in (not just Scott Fletcher at 10%).

That monster trade was a BUY for sure. All looking very good here for me! :-)

Good to hear the manganese mine doing extremely well.

Also, shares issue price of 0.045p. Though agreed much earlier when SP was higher, a minor positive given where we currently are. Further still, their selling must be done in orderly way.

Good luck to all genuine folks here.

[Continued. ..]

 

Following the approval by shareholders toincrease the Company authorised share capital, as announced on the 6 August 2019, the Company has now elected to issue the balance of the 753,778,580 Loan Shares at a value of £339,200 at the Issue Price ("Second Loan Shares"). The Second Loan Shares will be subject to an orderly market agreement such that they may subsequently only be sold by MNH through the Company's broker to ensure an orderly market is maintained.

 

Appointment of Mr. Herbert  

 

Mr. Herbert has nearly three decades of experience in finance. Mr. Herbert trained with PwC and has been involved in growing mining ventures, both as an executive (including Antofagasta plc, Brancote Holdings plc and UraMin Inc.) and as a manager of investments (including Galahad Gold plc and Polo Resources Limited). Mr. Herbert has served as a director of companies on the AIM, ASX, LSE, JSE and TSX and was previously a director of Premier between 20 August 2013 and 22 April 2016. Today, Mr. Herbert works with growth companies across sectors and he is chairman of IronRidge Resources, Helium One, Siderian Resource Capital and the acting Chairman of MNH and its subsidiaries which operate Otjozondu.

 

Mr. Herbert has a BA with Joint Honours from the University of Leicester and is a Fellow of the Association of Chartered Certified Accountants.

Admission to AIM and total voting rights

The Second Loan Shares will, when issued, rank pari passu in all respects with the existing ordinary shares. Application will be made for the Second Loan Shares to be admitted to trading on AIM and admission is expected to take place on or around 3 September 2019.

 

Following the issue of the Second Loan Shares, the Company's issued share capital consists of 9,753,778,580 Ordinary Shares, with voting rights. This figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

Premier African Min
Loan to Otjozondu Manganese Mine - Board Changes

RNS Number : 3292K

Premier African Minerals Limited

28 August 2019

Premier African Minerals Limited / Ticker: PREM / Index: AIM / Sector: Mining

For immediate release

28 August 201

Premier African Minerals Limited

Completion of Loan into Otjozondu Manganese Mine and

Board Appointment

 

Premier African Minerals Limited ("Premier" or the "Company") is pleased to confirm the completion of the strategic loan by Premier to MN Holdings Limited ("MNH"), the owner and operator  of the Otjozondu Manganese Mine ("Otjozondu") in Namibia, and the appointment Mr. Herbert to the Premier board.

George Roach, CEO commented: "I am pleased that we are at last able start implementing the board changes I have referred to recently and I look forward to working with Mr. Herbert. The completion of this loan payment and the appointment of MNH's Chairman to Premier's board cements the establishment of a strategic relationship and firmly aligns the best mutual interest of both parties. It is also pleasing to note that export tonnages at MNH continue to increase and mine production more than doubled in the last 12 months.  

As I have previously stated, it is essential to the future of our Company that we find a means to move to being production and cash generative, rather than development oriented and dependent on placements and the need to raise finance."

Terms of the Loan

As announced on 8 July 2019, the Company and Cambrian Limited entered into a secured US$1.35 million loan agreement ("Loan Agreement") with MNH. The annual interest rate payable by MNH on the outstanding loan amount is 10% per annum. In accordance with the Loan Agreement, Cambrian has already provided US$350,000 in cash to MNH and Premier agreed to provide the remaining US$1 million (as Lender) in the form of 1,763,668,430 new ordinary Premier Shares conditionally issued to the equivalent value of US$1,000,000 at an issue price of 0.045p ("Issue Price"), being the Premier closing share price on 5 July 2019 ("Loan Shares"). Under Premier's existing share authorities on the date of issue of the Loan Agreement, Premier could only issue 1,009,889,850 of the Loan Shares for a value of £454,450.

https://www.investegate.co.uk/premier-african-min--prem-/rns/loan-to-otjozondu-manganese-mine---board-changes/201908280700033292K/

You really need to cheer up jester, you not living up to your name.

[Continued...]

"However, the deficits that have recently characterised the market could disappear for a couple of years as new projects in Indonesia start to produce nickel that can easily be turned into battery chemicals.

Projects in Indonesia include a high-pressure acid leach smelter in Morowali financed by a consortium led by China’s Tsingshan Group.

“Things are happening quickly in Indonesia and at current prices, which aren’t really high enough for many Western projects,” Wood Mackenzie analyst Andrew Mitchell said.

New projects outside China could include Clean Teq, which is looking to sell a stake in its nickel, cobalt and scandium venture in Australia to help fund development.

Others mentioned by analysts are Western Areas’ Odysseus project in Australia and Giga Metals’ Turnagain mine in Canada."

“We’ll be looking at large deficits in a few years ... There should be a market for the concentrate the Giga Metals project produces by the time it comes to fruition,” Mitchell said.

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Wood Mackenzie’s long-term price to incentivise new projects outside Asia is $20,000 a tonne.

“By 2040, 48% of nickel demand will come from the stainless sector and 30% from batteries,” Mitchell said, adding that nickel demand by 2040 would total 4.25 million tonnes."

Very encouraging article.

"New projects for battery material nickel need a price spur"

https://uk.reuters.com/article/uk-nickel-batteries-electric-graphic/new-projects-for-battery-material-nickel-need-a-price-spur-idUKKCN1VH187

LONDON (Reuters) - Rapidly rising use of nickel in the batteries that power electric vehicles over coming years means higher prices are needed to incentivise the development of new projects to boost supplies of the metal.

Demand for nickel is expected to soar as governments, companies and individual consumers aim to cut the noxious fumes emitted by fossil-fuelled vehicles.

To compete with conventional cars powered by internal combustion engines (ICEs), electric vehicles must be able to go further on a single charge. That means more nickel, used to store energy in the cathode part of lithium-ion rechargeable batteries, is needed.

Consultancy Roskill estimates most new greenfield nickel projects would need prices at $22,000 (£17,919) a tonne or above, though that would to an extent depend on byproducts such as cobalt, whose prices have slumped. Nickel prices on the London Metal Exchange are around $15,700 a tonne.

Prices need to be higher now as nickel mines can take five or more years to develop.

“You need a much higher purity nickel for batteries. To build more capacity you need significantly higher prices,” said Jack Anderson, an analyst at Roskill.

“Nickel has been dominated by the stainless steel industry, which uses the lowest-cost, low-grade material coming from Indonesia and the Philippines.”

Stainless accounts for about 70% of global nickel demand estimated at 2.4 million tonnes this year, while batteries’ share was about 4%.

Demand will rely on the adoption of batteries containing higher levels of nickel. Originally, cathodes comprised one part nickel, one part cobalt and one part manganese.

That 1-1-1 ratio has largely given way to 5-2-3 and 6-2-2. Cathodes with 80% nickel are expected to dominate within years as technology advances to limit the use of cobalt, which stabilises and extends the life of batteries.

“Depending on the adoption of 8-1-1 technology, the amount of nickel per car could on average go from 20 kg to between 40 and 50 kg by 2025,” said Jim Lennon, managing director at Red Door Research.

As electric vehicle sales climb, Roskill forecasts nickel demand from the battery sector to rise to 258,000 tonnes or nearly 10% of the total in 2022, when many expect parity between the costs of making battery- and ICE-powered cars.

Roskill sees batteries’ share at 20% of global nickel demand totalling 3.69 million tonnes by 2030, while stainless steel mills will account for 60%.

[Contimued...]

Absolutely a huge benefit to AMC the subscription as we have money in the bank as opposed to direct purchase of the market.

Think some folks' general attitude to life could do with a revamp.

At worst, today's news of Tom Bowens subscription for 7million oddshares is awesome news, at best, ....err...am getting confisued here...

There is no negative here folks. This is a crazy signal.

Initial post copied from ii was a food read but incredibly over optimistic - and I say that as someone who tends towards the optimistic. This is not to say that we aren't in a strong position. But we don't that as a fact. We only getting to such a interpretation via processes of triangulation. That said, that's all we have to go on most the time. FWIW, I agree on the following

- if no news by end of year and we still ticking over at Block 12 then reasonable to interpret that as signalling we've survived default

- ZM and SN may not seek to sort earlier if they have evidence. No way they will tell us they have or that we will find out (unless there's a leak). Remembering that default not connected to the court cases bring pursued into next year. Can imagine though that if default sorted and Block 12 safe, they may still pursue the case against Hope because they really have nothing to lose.

- we many not for a while as a) depends on where they are with default and/ or b) NDA s. If default is addressed it could be, as others have suggested, that NDAs prevent any proper comms. Indeed, is possible that WTI/ Liquidators not provided sufficient details for the reason of those NDAs.

- is possible that default not fully blocked or that solvency not established but the asset transfer has succeeded. But NDSa still stand.