Member Info for chippyjo

Your diluting against the asset base of prem which dilutes us.

Charlie, I wouldn’t mind that idea but at what price and would GR want to give up control of those shares. That’s funds in the piggy bank potentially.

Now that’s just hilarious CF

“Just not credible” but the others here are now posting the incredible.
Ok let me put some maths here.
Zulu DFS say $6million. Newco drill savings what 25%. $1.2 million.
RHA mining costs the cheapest in the business according to GR. on top of the basic mining costs to dig and move rock to the pad, there are additional considerations to be made to the value of $3million to KWE on top of the circa 20% we are giving away on the start of the deal coupled with the $6million dollar fund raise required to set up the new company.
So $6 million for iPo although this includes the first 18 months running costs.
$4 million in Kwe asset purchase.
$3 million in bonuses where a penalty clause would be more appropriate if targets weren’t met as in many other industries.
This is stripping out cash and assets without even factoring the Zim gov 10% and the $20 million dollars spent on RHA already.
Gr Stated that $650000 required to get to the stopes. That’s peanuts.
You wait, the decline shaft will come up and the dev ore with nothing useful to sell will almost certainly end up on the pad. Bonuses all round no sales and shareholders bummed again.
I want GR gone I make no bones but throwing £6mill $4mill and $3 mill to get it? Hell no.

Nobody has done the maths and posted here the cost of mine to pad with the deal and same with drill/DFS at Zulu. The problem with prem has been management not fund raising. There’s been plenty of that over the years.

Cut back to the bone and wait Circum sell arcm

Not me without certain reassurance written in. GR non exec or fishing Circum ring with no loans or lien against and RHA bonus only for stope ore delivered.

Since I raised the ring fencing of Circum I’ll pipe up.
GR said they should but fell short of saying he will. Even at a much reduced admin cost in prem, you can be sure it won’t be zero and GR and co will suck some of this cash from Circum (should it occur) prior to shareholders unless it’s made a shareholder condition of the deal. The guy has a standard modus operandi.
I missed the start of the interview but did we get an answer on who was getting the bonus for Rom to the pad? And that should be stope ore to the pad, not developement ore another condition shareholders should push for.

So a simple question, will the developement ore count towards the rom to the pad? If so, its all low grade junk as we found out in January. If you vote for this deal, make it the right deal for shareholders. Tie in and ring fence circum, not just GR saying should be.

Sorry elm. but it was a different minister who was off for a week or so not the MOM. As for the rest, I agree. Failure to deliver on all levels.
I still want to know who gets the millions for mining incentv=ives and why there are no grade limits set to that. They could dump any old crap to the pad.

Ahh thank curt and there was me thinking you didn't care.

I guess they wanted to move away from bloc as blockchain is a virtual and gold is a physical. Don't much care for the new name tho...

I've just posted the definition and a quote from the RNSs.
Up to others to decide for themselves. Don't shoot the alter boy, look for the Vicar.

Liar: spinner of yarns...
Updates over the coming months, happy Autumn.....Would be interesting to see this one play out in court.

Should, but will they?

Good post nMike.
My concern with KME is a real and genuine valuation. They may be borderline bankrupt for all we know and we could get the company whole for a fiver...

Strange, the 10:21am trades showing here not showing on HL

He could also forgone his salary as well to recompense for his shit management along with the BOD.

GR is the real liar. Have a read of the RNS's over the years. His nose makes pinocchio's look non existent.
Theres no money left and no real prospect of raising any in the GR cash generation vehicle Prem.
There are post today saying the newco management will be from the other party, true. Maybe. But the board will have 3 including the chairman allotted from prem. SSDD (same shit different day).
GR has knicked the game lodge, will most probably convert shares from loan at a historically low share price and failed to mention the other assets held with Prem. Don't forget the free exploration carry on that TCT "deal". Will this be refunded to prem if the limestone project mothballed? $200000.
So talking about him as the messiah or even a descent CEO is wide of the mark.

CF i disagree. Yes they are bringing the plant and equipment but for 20% of PREMS assets in Zimbabwe. They aren't giving it to us. Even just taking 20% of the costs put into RHA is the same figure without any value in Zulu and the other ZIM exploration targets.
GR will also have to answer for the remaining assets outside ZIM. There is $200000 free carry on the TCT deal which I guess GR and co will hope we forget about.