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He must know as that's the scenario planning they have been working on for RHA, could be market sensitive information so unable to say?
George wouldn't be drawn on the question around RHA, would it be profitable running today at current ATP prices WITHOUT any improvements (option 4). The question was asked 3 times, GR could have had a career in politics !
Note - situation in Ethiopia is now FAR more favourable.
Broker Shore Capital reckons Premier African Minerals’ (LON:PREM) stake in Circum Minerals exceeds the value the market is placing on the Aim company’s shares.
Premier has a 2% interest in Circum Minerals, which yesterday issued a statement about its wholly-owned Danakil potash project in Ethiopia and revealed it had enlisted Morgan Stanley to help find a strategic partner for Circum or “find a liquidity alternative”.
“Whilst current events in Ethiopia may have slowed the process, Circum continues to engage with interested parties and also contemplates a possible flotation on an appropriate exchange,” the potash project developer’s statement said.
The current events Circum referred to relate to the six-month state of emergency declared in Ethiopia following a wave of violent protests in the Oromia and Amhara Region.
Using figures provided by Premier, Shore has been doing a bit of back-of-the-envelope calculating. Premier recently disclosed that Yara International’s much smaller Dallol project to the south of Danakil was recently funded on a valuation of US$200mln.
According to Premier African, which owns 2mln Circum shares, applying this valuation to Danakil is equivalent US$2 per Circum share, and it believes that Circum would likely achieve “a significantly higher value on its much bigger project”.
“Based on Danakil’s post-tax NPV [net present value], we simplistically calculate that PREM’s interest could be worth c.US$42mln or £34.3mln; based on current shares in issue, this is roughly 1.82p per [Premier] share.
We can sell our Arc shares at the end of Sept, currently valued at about £340K and rising.
Circum could drop at around the same time.
RHA conformation post election (August?).
Zulu DD complete and agreement confirmed Aug/Sept time.
Starting to all come together.
Very positive development, maybe, just maybe, GR's judgement isn't that bad after all and he is not the mug that many portray. Similar positive result with Circum will give us a real shot in the arm.
Terms of the Loan
The Company entered into the loan on 4 June 2018. The Loan is non-interest bearing and has a maturity of 60 days and will provide additional general working capital while the Company looks to bring finality to the negotiations currently underway in respect of both Zulu Lithium Private Limited and RHA Tungsten Private Limited. The Company will repay the entire Loan, including all fees within five days following the maturity of the Loan. The Loan carries an implementation fee of US$15,000 (5%) and a redemption fee of US$15,000 (5%), collectively the fees ("Fees").
https://af.reuters.com/article/commoditiesNews/idAFL5N1SO6KR
Positive that GR is communicating to shareholders, the lack of which has been criticised in the past. He has set the record straight on CASA, most shareholders got it but it didn't stop the naysayer using it to further their own agendas. Suspect that GR is hearing some of the BS being spouted on here and recognises the damage that it is doing to sentiment in PREM. Should hear news on Zulu soon, game changer IMHO. Good luck all.