Member Info for Charlie1984

Juste - do you know what the term life cycle means.

You find land or a old mine, you drill and take samples (cost), you pay for surveys to make sure its feasible (cost) you then pay for plant and staff (cost) sometimes set up takes years (cost), purchase other opportunities, licences, mines, shares in other assets (cost) how do you think all these "costs" get paid for, thats correct dilution and shareholders / PI. You invested on the cheap in a Jr minor not a major, even majors have teething problems if they dont the MC is massive and you wouldnt invest in them because you scratching around AIM looking for the next get rich share then bitching when you dont become a millionaire over night!
Our CEO GR owned in excess of 34% at one point PIs arent the only ones suffering at the current MC, now do you think if you had millions invested you would purposely do things to diminish the SP or do you think you would do things to strengthen it?
Circum - taken longer than expected out of our hands
Zulu - some drilling done cash from Newco or Circum to progress
RHA - £2m away from production but slow in progress due to Zim government stumping up the cash or signing over 90% which is effecting progress at Zulu as it effects Newco sign off. All plant and equipment paid for, shaft upgrades, de-watering and underground works completed all takes time.

R.H.A. Tungsten Mine is located 270km south of Bulawayo, Zimbabwe’s second biggest city, and is owned by AIM-listed Premier African Minerals. Operations at the mine were suspended in January as the company said it was negotiating with a state empowerment company on a new funding model after the indigenisation law was relaxed by the new government.

Even they explain it the way we have been saying it for a few that dont want to listen ........................... GLA

People that bought in on Friday had been locked in you claimed this morning that comment was based on the spread as % going from 22.22% to 11.11% now the spread has changed we are back to where we finished Friday, another blatant de-ramp.
Can you also explain yourself as you claim this has a high chance of going bust, we have no dept and we have assets, one asset in particular worth multiples of the current MC.
You are stating monthly burn through rates from last years accounts that dont show the current situation nor do you know what the reduced costs are on a monthly basis so your guessing.
So since you claim to know what the company is spending please tell this BB in a brake down how you arrived at your latest figure, myself and everyone else are all ears.
If you are using last years accounting figures or just guessing please just say that, if you know how you arrive at that figure please break it down for us PIs.
This I am looking forward too ................................

You know what’s laughable Juste is that my post wasn’t directed at any poster in general, it didn’t name posters directly yet you are very quickly on to the defensive to say your not a de-ramper. Call me synical but something doesn’t add up.
Further more if you don’t have a short open you have nothing to worry about, secondly you have been here sounding the alarm since 0.56 to 0.01 so what your saying is you don’t hold and your clearly de-ramping, so at what point will you look to buy in or are you just here daily, day in day out to warn people of this share. No agender though, just letting this share consume you for nothing, you don’t hold so why you here?
Think very carefully about your answer PIs are getting a clearer picture of your agender based on your posts!

NaPom “close your positions why there is still time”
Much nicer than me, why these idiots try and suppress the SP for their own gain you give them advice to close their shorts, I would much rather see them get burnt and would advise them to keep playing the game they are playing and watch them squirm when the news flow lands. After all news can fall at any time and catch them out. They don’t care about anyone but them selves so game on i say. Let them play Russian Roulette!

https://www.justgiving.com/fundraising/michael-charlton4

My name 5 Doddie Foundation
We Fund research and raise awareness of MND to help anyone touched by MND
My sponsored head shave last year.
Feel free to support, charity close to my heart.

errr 90% of a mine which is fully constructed and plant bought and paid for, only needs £2m to get it into production.

Do you know why PREM didn't raise the cash? because they will not put any more money into RHA until the government sign off the 90%, now the government claim to want to fund RHA into production so we are still owed set up cost back if we get funded but signoff doesn't happen.

This also delays they Newco as RHA as an asset is part of the Newco set up

Its like paying 20k for a car that you only own 49% of but it still required wheels would you also pay for the wheels and let some one else ride in it? if that some one then said you could own 90% you would wait to put the wheels on before they formally agreed otherwise you would stump up all the cash with out guaranteed 90% ownership. Its cat and mouse politics why we might see a delay in starting up production in the long run the ATP price rises and the return from 49% to 90% if far greater over the life of the mine.

We could have went the fast fix route into production but would this have been in the best interests of PREM and its shareholders - NO IT WOULDNT HAVE BEEN !

What I am trying to put in very simple terms for the PI that aren't listening is RHA is close to production, after plowing in excess of £20m into it they will not put another penny into it until the government signs off on the 90% what don't you get ?????? This is what is causing delays !!!

There lass has left him on his own again .............................. if he talks as much shite at home as he does here its hardly surprising!

Yes they can change their names but they can't change their mannerisms ........................... not as kLeVaR as they think are they!

I spy a large amount of disgruntled ex holders of PREM many of whom sold at a loss and are bitter towards the current holders ..................... can you spot them

I spy a lot of de-rampers possible shorters

So for easy maths we work on a 3rd held that would increase my minimum figure considerably i.e x 3

They are also ring fencing Circum. Maths is easy, £30m minimum shared out against all shares in nominee accounts minimum value if every share was held and not in free float would be 0.35-0.45p then you have your Newco shares, then again doesn't bother me getting caught out as I will not be selling anytime soon..........................

Trolls continue because anyone with any sense isn't listening anyway .

Could post a number of scenarios but they will get called the "dangling carrot" so aint going to bother GLA

Lets just stop with the crap WhaGwaan. Circum as you well know (or should know) is a private company. PREM originally owned Circum but sold it for cash and retained little over 2%. Since this time GR has purchased a further 3% taking our holding passed the 5% mark.
What you call a carrot is simply a life cycle process, like it or not to own or part own a share in a multi billion dollar project and be a junior minor means getting in and taking the initial risk at the beginning of the life cycle because once developed or fully understood we wouldn't be able to afford or slice of the pie.
As for news and updates as noted above Circum Minerals is a private company, currently looking for investment or to list on the Stock Exchange which will fund the project into production, during this process they have appointed Morgan Stanley for over the last 2 years, one needs to look at the grand scale and size of Circum to understand fully why the process has been "slow"

RHA and Zulu -
RHA is at a stale mate, we either want the government to stump up with the cash they promised or sign over the 90% ownership. GR has stated that PREM will inject no more cash until one or both of these things happen as we only currently own 49% and have spend in excess of £20m. Following new law and legislation change on new companies has prompted PREM to push for the larger percentage of ownership.

This is having a knock on effect with Zulu as the Newco listing was to raise funds to purchase KME and cover drilling costs to DFS and further aid and reduce costs on PREMs undrilled reserves and licenses.

As for life style, far to many PI guessing what wages and expenses are getting drawn and taken, the company is operating in a lean way with RHA shut down and staff sent home, the pressure is now back on the government to sign off or come up with the cash and get their people back in work.

So you say carrot, I say political. You say lifestyle I say cat and mouse why we await government responses.

And you are correct in there are a lot of PIs underwater but if your not invested why kick those that are down for still holding on to belief that one or more of the above will happen shortly and get us out of the current ruck.

Its easy to look at the current SP and pass judgment, I wouldn't question PIs de-ramping or trolling this board if they offered balance and substance and wrote about both sides of the story not just what they see as a negative reflection.

round and round and round and round in circles, feed the seagulls and they will continue to hang around.

As for ideas and theory’s Bricks92 nothing has really changed much theory wise just closer than we where when we all bought in.
RHA requires further cash due to the ownership and law change PREM will not invest any more cash, on the other side of the fence because the government owns 51% and PREM have invested £20m + the government said they will fund us into production. So out of our hands why we await government cash or signoff or both.

Zulu has been drilled but not enough to get us to DFS this still requires approx $4-6m the Newco was to raise cash to purchase drilling company to reduce costs further. Due to above this is still on hold.

Circum unlisted Morgan Stanley 2/3 years ago to oversee the sale or funding to list on the Stock Market. This isn’t like popping to the car garage, Circum is the biggest undeveloped Potash reserve in the world, to sell or to raise capital for something on this scale doesn’t happen overnight.

This being said it makes PREM worth the wait and adds a minimum value of approx 0.3p even if we sold the Circum shares for cost $7.5m tomorrow that would cover DFS at Zulu and production costs at RHA. ( what value would that put us at)
Then why would you invest in Circum to sell before you seen a return, it’s a game of cat and mouse, not everything in life is black or white nor is it straight forward.
If you dont like PREM or think it’s a waist of time why hand round the BB and pass judgment ? I just dont get it, surely your life isnt that boring that you spend it on something you have no interest in?

Think it’s more to do with being seriously underwater some PIs just won’t sell st these levels I am 93% down wouldn’t sell would rather losee everything but let it play out. A lot are the in the sane boat only difference is I will not put any more money into this

Tickled me LOL

MC at an all time low let’s get one thing straight Circum on its own is worth more than the current MC so RHA and all the kit and Zulu not proved in.
Even if we sold off the gold shares and limestone division it ain’t going to negatively effect the SP all that much if at all IMO
Only thing effecting the SP is people selling that are sick of waiting and a lack of PIs buying due to no news flow, as soon as the buyers return on news we will then see the increase in SP. A share is only worth what people are willing to pay for it, a few will buy more to average down but real money won’t flood in until something concrete lands.

Cannt imagine they are sat round drinking tea twiddling their thumbs at Circum, my current minimum value from Circum on news is 0.3p, this also unlocks Zulu and if the Zim government havent funded RHA cash to final get us into production, with this sentiment and cash on the bank and a clear direction would expect a re-rate to 0.8 - 1.2p
No pump from me just an explanation as to why I havent sold and endure reading the daily BS on this BB .......... GLA

Just in relation to you quote of £300k for GRs wages, were are you getting this information from?
I ask as his salary increased from £150k to £300k this was for 1 x tax year. Following on from this point GR has taken more of a part time role and this was the reason for bringing in Michael Forester was it not?
That £300k wage was then split to £150k each GR & MF.
We are also told that the BOD to date haven’t taken or drawn their full monthly wage due to current finances. Of course maybe I am incorrect and stand corrected but that’s my take on the RNS todate.

So GR £300k wages you quote please explain?

As for being broke please explain how anything has ever changed? We have never been cash rich through production income, therefore we have seen dilution to fund drilling wages etc and to get us into production. Ok you claim we are broke but a bird in the hand etc We have always been broke when we needed more cash GR has went back to the Market, joys of investing into mining exploration company rather than a operational mining project.
We can sell Circum or part of IF required to fund RHA medium to short term we still have CASA and limestone.
Issue with RHA is still percentage of ownership - we will not spend any more shareholders cash with out the 90% sign off.
Like wise the other option is investment from the Zim government looks like we are at a stale mate until th government signoff either way

Be we the less assets are assets. If you need to buy them sell assets what’s the difference between not having those assets in the first instance and cash in the bank, therefore there wouldn’t be a requirement to sell so either way I don’t see it as a negative but an option.
As for the loan or future loans from GR every loan todate has been converted he isn’t making from it is he? Each time he diluted to concert that rather large holding decreases in percentage against shares in issue.
Plus he could secure a loan against anything it’s a requirement of his trust, previously CASA previously Circum guess what we still own those assets. Legally you can’t loan £1m against £7m Circum shares then take the shares what planet are you on this would be highly illegal and he would get hauled over the coals.
Why we discuss selling assets and GR giving a loan it’s all BB BS, speculation because no ones how much cash is left in the bank or how long we can operate, like wise no one knows what the BOD are taking in wages etc so everyone is speculating and second guessing !