Member Info for chippyjo

When money is involved, you have to be on it. A fool and his money etc etc.
What did prem open at when floated? 3.5p Will newco go the same way? Not if i had any say in it and as it stands i do have a vote in it.
Attack (criticize or oppose fiercely and publicly) again a statement implying im not of stable mind and am acting emotionally. Those that know me would say I'd be call even if my hair was on fire. If GR puts something to the vote thats likely to be detrimental to my stake here I have the right to raise this on a public BB.
Gr has said many things over the years to raise funds, how much of that has come to fruition?

Thing is cf its not funny if all men/women aren't equal.

Hmm CF your sounding like a totalitarian state.
Kim jong CF

Mal said "The past ,spent, gone no longer relevant !"
Tell that to the holocaust survivors. WE learn much from history Mal

So we have CF saying i was ill and Mal now saying i sound very angry. Both attempts to undermine the validity of my posts.

case of dilution of GRs influence or a case of 'can't dilute this anymore so I make a newco to bankroll my mates projects"
What that question? Love to see the answer to that.

CF I'd like to have a vote of confidence or no confidence in the board or even just GR. All shareholders 1 share 1 vote.

OK CF I'll raise just on thing at a time. Something concrete.
RHA, $1.5 million bonus for weight of rock ROM to the pad. Firstly, on a contract basis in the cheapest place on earth in a country that has nearly 90% unemployment, how much rock would that bonus cash get us to the pad?
Then there is the very real issue that GR/stooges/Newco that the decline is required. Will that rock count under the guise of development ore? Are the even the grades? Remember the big blast on the open pit? That was our cash exploding for what turned out the be just stones and dust.
The info in the rns is heavily biased on just doing something with or without results leading to shareholder value.

CF I'm not angry. I'm just not deluding myself over GR either.

Thanks elm. I know my postings aren't popular but issues need to be aired. GR hasn't done good by the shareholders on anything he's done and I don't think he will unless forced too.

When Noel ejected me from the group, I assume the consensus was there would be the RHA sign off and a JV partner taking a 30ish% of RHA at project level to get it up and running and turning a profit. What transpired was quite different.
So for instance, if kwe were so happy with RHA and the project economics, why did a deal like this not come to fruition? We could have self funded the remaining part of the dfs without giving away 50% of the project.

Thanks for that info mal. GR lied to my face last time i raised questions so i expect little if I went again.
Probably be lynched by the 13%ers ))

CF you think I'm here to slag of GR and prem as a hobby. I'm not. But I'm neither deluded about what GR is, has been and will do given the chance.
Shareholders need to stop letting him do what he's been dong for years.
This deal isn't what any of us bought in for. Sweeping statement but
I'd hazard a guess it was RHA production which ultimately paid for zulu dfs and kerching we are quids in.
Now we are giving away 50% of the assets just for running expenses.
Its got to stop. The GR gravy train that is.

No CF im not unwell or have gastric issues.
As for trader. no.
GR will not be out of this, he will have his influence most probably through Brendon and Michael.
What do I want? Well not that it really matters but if the happy clappers keep deluding themselves and take whatever GR is feeding them on this deal they will get fooled again.
So what am I posting? To highlight that shareholders need to force the board to put in the right checks and balances to make this deal less of a disaster than it most likely will end up being.
Circum, GR has not said these are ring fenced and protected for shareholder special dividend in their entirety and free from any lien.
ARCM minerals shares, any sale and again these should been returned to shareholder in the sammie vein.
Board renumeration should halt imeidiatly and it is the board that have put shareholder where they are ie giving away 50%+ of the shareholder payed for asset base for effectively 18 month running expenses.
Productivity bonuses, wholly excessive based on the cap of the company as well as the fact there is no grade or product tie in on the weight of rock to the pad.
I can go on, but just saying there is no other choice it'll be fine doesn't cut it. Make this wholly useless CEO (based on performance over the time I've been here(3 years)) do whats right for shareholders as opposed to letting him put the tailings over your eyes.

There is little detail about what shareholders in Prem will have at the end of this mess.
RHA cost shareholders $20 million for a hole in the ground and equipment but no real sales and an underwhelming mineral resource report.
Zulu, requires $6 million which we don't have coupled with the lies that GR said about interested parties last year.
TCT, game lodge taken by George and co coupled with the $200000 exploration carrot which will disappear.
ARCM most likely sold to pay wages to the man who mismanaged this whole affair.
And now people like CF (complete fraud?) seem happy to give away at least 50% of the whole asset base, equipment and if any, profits on production to let this charlatan do it all again with an IPO.
I'm also curious as to why you've not joined Noels group as they are pro GR. Maybe the name on the screen shot would be controversial or those top ups your always taking about are down the pub not online trading.

Gr deserves all the ridicule and criticism he gets. The king of dilution now needs to reinvent the wheel to continue.
So, where are the PI's safeguards?
Well there are none. Napom posted some figures earlier which i will look at tomorrow but the dilution is going to be considerable and the bonuses offered are excessive based on the history and money raised against the previous investor cash spent. How many times have you said positives CF for the share price/mcap to be where they are and in the face of some 65% of the asset base being sold off to pay for the next chapter.
GR needs to be put out to pasture, but the sums involved to do it are horrific.
THEN the 3 directors that prem will allot. My guess M Foster W Hemple and Brendon. The cycle continues. By all means vote for the deal, but make it the right one for shareholders. The current one really doesn't look like it is.

Ha you think my vote will swing things? I was answering you statement about using Circum cash to reduce the fund raise by diluting prems assets. You can try to manipulate the board as much as you want fella doesn’t change the facts. Gr dilutes and doesn’t add value.

Nope I’d rather take a full divi on the Circum and raise on IPO, cash in the bank is worth more than a gr forward looking statement.

You may love me to pee off but it’s not going to happen. There has been nowhere near enough scrutiny of GRs actions and just happy clapping cf cos your in deep with all those top ups you talk about(one of the well known and documented ramper traits) you’ve probably little choice. As for sell up? No, I pressed buy to see a return based on the info in the RNS and will continue to scrutinise gr if he fails or doesn’t do what he said. I’m at work so will look at the drilling figure gig n by napom tomorrow but the figure I had was from gr in the London meeting from memory. As for incentivising the miners, a penalty clause is equally used as well. There has to be a grade put on that volume unless your happy to throw away 1.5 million bucks on dirt.

So CF, how much is the DFS for the remaining %age of Zulu and how much to mine 16000 tonnes of ore to the pad?

Just to quote the RNS $1.5 million bonus for 20000 metres drilled.
It costs us currently $75 a metre @20000 equals $1.5 million dollars. Funny that’s the same figure as the bonus plus we still need to pay $4 million for the plant from KWE and the operational expenses of the drill. Fuel power etc...

Good question mike.

Stew, thanks for a reasoned response .
The trouble it’s not just $6 million. It’s a total of $13 million including the first 18 months projected running costs for an as yet unknown amount of asset dilution.
Still waiting for CFs mining costing ...