Member Info for chattty

The RNS was better than expected, although I have a few questions to ask.

It is obvious you are obsessed with this share having lost money,seemsa a loss you could ill afford

You need help.

Your statement assuming I am clinging on is an insult to mine and others intelligence,specifically those who have been buying in over the last 6 months.

As for any placing I may well take part.

Now:- no matter what price I sell at I cannot make a loss , of course you don't have any appreciation of the bigger picture.

CanMax cannot take Zulu, its deal is with Prem not Zulu.

Also it looks like a funding round will be started as they are "constrained' for funds so better to get it sorted and in hand before anything else crops up in terms of not meeting the new production expectations.

You are demonstrating yet again an inability to grasp the bigger picture, it is amusing that you defend your position by expounding your theory about investing in a failing company.

You show time and again an astonishing naivety for business,tie that in with the arrogance in telling others what to do with their money thus representing the picture of abject failure.

As far as I am concerned the price I sell at is immaterial .

No doubt you will continue expounding your ignorance and continue to make a fool of yourself for all to see.

For what it is worth a note flashed up on my phone at 07.00 which said funds had been received -time suggested it was an hour earlier -just as I was about to investigate the note was removed-I can only think it was an old note no longer valid hence removal.

It is obvious you failed at the first hurdle by did not understanding the basic premise for investing;- which is not to invest more than you can afford to lose.

So how you have the gall to tell others what to do is astonishing unless you are bent on demonstrating your an idiot (that is an IQ 0f 25) surely you understand no one has the right to tell anyone how to invest or handle their own cash especially someone who cannot handle their own loss making decisions.

I as others now hold millions of shares here, we are all aware of the situation through understanding investment and how business works which is why this share is worth the risk, something you cannot comprehend.

On 19 April 2023 the Company announced that it had unexpectedly received notice of termination of a fully drawn c$6.0m bank facility, which Sydbank had also offset c$3.1m of the Company's cash in part repayment of the facility (the "Termination"). Since that time the Board has been pursuing a number of options to resolve this situation and secure the future of the Company.

Confirmation Sydbank have terminated their contract and seized the c$3.1m cash which leaves the company with little money.

N.B. there is no mention of any extension granted by Sydbank.It also indicates the company is running on empty-no fund raise the company will shut down.The procedures for doing so will be announced at the GM.

Right now Sydbank is listening to the company as the co., tries to get finance on board BUT that is all; it wants the rest of its money so the asset seizure process is underway which will cease if and when money is raised and paid in full by the GM date.

Discussions with a number of parties are progressing which may include raising funds through the issuance of shares and/or reducing or rescheduling other debts of the Group. Whilst there can be no certainty that these discussions will have a positive conclusion, the Directors are convening the General Meeting at this time so that the Company has the flexibility to issue ordinary shares quickly if agreement is reached on the terms of an equity issue. The Company does not currently have the authority to issue shares.

Note the use of the word QUICKLY clearly indicating they are in dire straights.

So far they have not been able to raise any funds by issuing new shares or selling any assets in the company over and above what is owed, at the moment it is unlikely so they are calling a GM to announce we have raised funds OR are closing down.

As a result of the Termination, the Company's share price has fallen below its nominal value of 1p. As the Company's Articles of Association prohibit the issuance of shares at a discount to nominal value, there is a need to re-designate the nominal value.

Normal procedure although it does nothing for the sp. Just means an extremely low sp as the nominal value will be designated zero and as has already been pointed out billions added to the SII followed by consolidation to enable further fund raises assuming they are successful in the first place.

Conclusion Sydbank are not moving from their position,there are no negotiations so are carrying on with asset seizure.

As I mentioned there are many other ways of raising money -But raising without and dependant on shareholders permission is high risk so in my view it won't happen.

No one would risk doing such a placing before shareholders approval-if they did the consequences of it being turned down by shareholders would be disaster so any funds received would not be able to be used before the EGM apart from which it could be construed as advertising the fact PREM was broke.

Plus the NOMADS would not sanction any such action.

There are many ways of introducing funds into their coffers

Quote;- "I sold at a small loss.You won't get that chance"

So those invested can only sell at a profit.

I doubt CanMax will walk away or be able to seriously renegotiate terms because other players are watching with interest so could get involved on better terms-delays are to be expected and Lithium is in serious demand + the basic price is climbing.

No doubt we will find out in due course.

Are certainly foolish for publishing inconsistent opinions sometimes within a matter of hours- better to publish once with all the data available so that a decent conclusion can be drawn so until they start acting responsibly within their duty of care which they have as an organisation when giving out information they should be ignored.

Probability of a serious placing was caused by these comments from the RNS;-

The Company has previously advised that the delays had caused our cash to be constrained. Recent exercise of options and issue of remaining shares free from pre-emptive rights by way of direct placement, has provided interim relief to this position. Alternative further funding may need to be sought if there are any further significant shipment delays."

So the hope is no further delays.

A number of commentators in the mkt think Prem could go bust and Zulu would no longer belong to Prem .

It would be surprising if this happened, rather a renegotiated contract with CanMax becomes more than likely if first shipment is not met by the end of June.

Obviously CanMax would understand exactly what the position is with production from their on site staff so we would have been notified if CanMax was changing the contract.

Alternatively GM has been raising money probably because expected contract payments from CanMax have ceased due to non delivery. OR CanMax have threatened to initiate the 90 day notice so GR is scrabbling around raising money to keep going as he continues to engage with them.

So the RNS gave warning nothing more nor less;- As announced on 29 March 2023, Premier's requirements to supply spodumene to Canmax Technologies Co., Ltd. ("Canmax") are to ship first product by 30 May 2023 (which will not now be met), failing which CanMax may elect to cancel the Marketing and Pre-Payment Agreement and require that the prepayment plus interest is settled within 90 days following notice. Canmax has always been supportive of Premier, and we continue to engage with them and look forward to first shipment in June 2023.

However you look at it ,it is a mess.

QATARS ENERGY MINISTER FROM 23rd MAY :-The Qatari official warned that energy transition policies by governments around the world would deter investment in fossil fuels and result in natural gas shortages in the looming decade.

The “worst is yet to come” for Europe as it continues to grapple with oil and gas shortages, Qatar’s energy minister warned at the Qatar Economic Forum in Lusail on Tuesday.

“The only thing that saved humanity and Europe this year was a warm winter and the slowdown in the economy worldwide,” said Saad Sherida Al Kaabi. “If the economy comes back in 2024, the worst is yet to come.”

Europe avoided significant issues over the past winter season in large due to milder-than-expected temperatures, which would have exacerbated an existent boiling energy supply crisis triggered partially by Russia’s invasion of Ukraine.

“If they don’t realise that and have a proper plan and sit down with producers and oil and gas companies are not demonised, reality will kick in and we’ll have a sensible solution,” Al Kaabi said.

Al Kaabi said in May last year that Western countries including the United Kingdom are facing the consequences for their to drive eliminate carbon emissions in a bid to combat climate change by “demonising oil and gas companies.”

Al Kaabi noted, in an interview with Sky News, that his country is willing to help the UK with its cost of living crisis, however, Western powers must take responsibility.

Years of pushing for an urgent end to fossil fuel production and calling gas producers the “bad guys” had contributed to the current crisis, he argued.

Meanwhile, Al Kaabi noted that the recent surge in oil and energy prices in Europe and beyond is not entirely as a result of the Russian and Ukrainian crisis but rather could be traced back many years before the event.

“It’s definitely a deeper issue,” he said while addressing the steady decrease of investments in gas production over the past few years as Europe pushed a move towards achieving net-zero through renewable sources.

“There was a build up of countries pushing for the [energy] transition in a hard way. [They pushed for] net-zero, moving to renewables, doing away with fossil fuels and demonising the oil and gas companies, [calling them] the bad guys. And [as a result] you don’t have enough investment in the oil and gas sector,” Al Kaabi said, according to Sky News.

Although production growth is delayed and they cannot fulfill their customers contract it is still ongoing.

The fly in the ointment is the cash runway,they have warned they will need cash so expect another raise at a minor discount to the then prevailing price

FROM THE RNS -As announced on 29 March 2023, Premier's requirements to supply spodumene to Canmax Technologies Co., Ltd. ("Canmax") are to ship first product by 30 May 2023 (which will not now be met), failing which CanMax may elect to cancel the Marketing and Pre-Payment Agreement and require that the prepayment plus interest is settled within 90 days following notice. Canmax has always been supportive of Premier, and we continue to engage with them and look forward to first shipment in June 2023.

I doubt the Marketing and Pre-Payment Agreement will be cancelled ,if anything maybe re-negotiated.

AGAIN from the RNS :-The Company has previously advised that the delays had caused our cash to be constrained. Recent exercise of options and issue of remaining shares free from pre-emptive rights by way of direct placement, has provided interim relief to this position. Alternative further funding may need to be sought if there are any further significant shipment delays."

There is no doubt in my mind that a cash raise will take place simply because PREM can make the most of the situation and get some much required cash in place.

The money mkts are extraordinarily tight at the moment so I'd also expect any raise to be at a small if any discount to the then existing price.

All in all not much opportunity for traders to get involved and not the right time to step in so watch list only.

Even an uninvested idiot is entitled to an opinion.

I doubt your uneducated ;- explanation the the total volume of share trades today was circa 21 million which is almost absolute zero when set against the shares in issue of some 2 billion+ so indicating little to zero interest by the market towards buying shares in the company therefore the price drifts away.

The mkt disinterest in the company is down to the content of the recent RNS basically announcing the expected demise of

the company as it now stands.

Also if you glance at the value of individual transactions they are mostly for nominal amounts few above the £5k mark which is low in itself,those mainly nominal trades also discourage the mkt from taking an interest.

How true is that probably more than three as well,problem is they take more than 50 years to mature!

At a guess you have lost some 60% of your original investment however much it was ; Your loss is entirely made by your own decision as to when to sell .

We all make mistakes and accept our own decisions so don't you think it's about time to grow up accept losses and as you say move along.

News will eventually arrive so I dont think its tanking otherwise I would have sold all my holdings.

So sold some at circa 65% profit ready to reinvest should the price continue its downward path.