Member Info for cringsing

@Mugwump,

As you are referring to idiots here, can I just check that you are aware that the massive drop in SP makes it damn near IMPOSSIBLE for the board to raise more funds, now where PREM may be tethering on bankruptcy ?

Just checking….

@Mugwump,

Agree, a 15% drop is nothing to worry about :-)))))))

Al4x

If nobody buys into a raise, Prem may be be taken over by liquidators…

And given what Canmax is already owed by Prem, I reckon liquidators will give them Zulu for free.

Maybe that always was the plan….

@Acker

You have been a solid supporter of Prem throughout, and undoubtedly helped the company to the level of completion it is today, mostly by explaining the facets of the decisions made by the management to less informed people online.

So in the spirit of the transparency you have offered throughout, how much stock are you currently holding?

As of an hour ago, I am again holding a tad south of 1m shares, as I otherwise would have spent the money of lottery tickets…

@Katy2995

To think more research would have helped is an easy mistake to make. No, it would not have helped.

The CEO (and apparently the only person with a say in this company) has EFFECTIVELY lied, lied some more, and then yet again lied. His style is obfuscation of facts, misdirections, half stories, cover-ups, and all sorts. Consequently, there is no way any of us could have known.

As Mr Roach most certainly isn’t stupid, I’m sure he doesn’t breach any rules on the relatively lawless AIM market, but he does give AIM a bad reputation.

@Acker

The $200m ‘Project value’ will mean absolutely nothing if PREM enters liquidation. Liquidators will then find highest bidder on open market, to pay as many creditors as possible. Money owed to creditors (including GR himself) will defo exceed value of assets, so all shareholders will be wiped.

We are tantalising close to liquidation. If George can’t stretch the last money from last rise, and assuming nobody want to put in more cash, this could all be over in 2 months !!

Or maybe he does manage to stretch the money, and sc6 comes spewing out of all the pipes in 6 weeks time. But what’s the odds of that…..

“hours and days, not days and weeks” -

GR several months ago.

As interviews goes, I can’t think of a worse one….

To Martini-girl, thank you for opening my eyes to the shamble a little while back now. I exited completely at .26p, loosing ‘only’ half my money.

To remaining holders, use your heads, not your hearts..

I remain convinced that Zulu ultimately will become successful, but not until Canmax have taken 100% ownership and used their own money to finish the work….

“Premature excitement” :-))

Some CEO’s plan meticulously, macro-manage and is an absolute pain on everybody in an Elon Musk way.

Other CEO’s rely on hope, luck, and the hard work of other people whom he expect will do the planning and management for him, whilst he attend other things abroad.

It’s rather easy to see which one Mr GR is….

Yes, a lot more money, and a lot more time.

Anybody dare a guess of the day rates across all the OEM specialists on site these days ??

Don’t worry, George and Canmax will be fine. LTH’s - not so much.

Remember the StockBox interview where the CEO said “hours and days, but not days and weeks” before continuous production of SC6..

That’s now weeks and months ago….

He is as clueless as the rest of us, and has been wrong in every prediction he has made so far.

I advise you not to read old Zulu updates or watch interviews, as it’s depressingly obvious how haphazardly this company is being run….

@Luthee

Hard evidence:

-None as it’s a future event.

Circumstantial evidence:

- Loads…

If you were CEO of a billion dollar manufacturing operation, and you need 40.000 tons of lithium products to manufacture what you have promised your customers and shareholders, would you just sit back quietly and await your key supplier mess you around for well over a year ??

No, you would not.

Consequentially, there is something completely different at play here, something that allows GR to mess around as if he had all the time in the world, and something CanMax knows will be worth way more than their interim lost production capacities.

Chinese business bosses are shrewd and take no prisoners. A bit like the South Africans…

“ And he clearly has a good relationship with Canmax, who are both patient and flexible.”

CanMax being the future owner of Zulu, and GR being the future Senior Vice President of Canmax-Zimbabwe Operations.

This has been nearly lined up for a while now…

Stop fooling yourself folks….

The pesstaker CEO strikes again…

DRWHO, I wouldn’t try too hard to explain pricing mechanics here :-))))

If this lot think GR magically can produce 40.000 ton of sc6 at Zulu, good luck with that…

But who really cares :-)))

At a mine gate cost of over $800/t any lower grade will be sold at a loss (imo)

Pilbara Minerals revenue declines in 1Q 2024

10:42AM

Australian lithium miner Pilbara Minerals announced today in their performance report for the first quarter of 2024. The company's spodumene concentrate production during the quarter was 179,000 tons, and sales were 165,000 tons. The average selling price achieved was US$804/ton (SC5.3%), a decrease of 28% from the fourth quarter of 2023. As a result, turnover for the quarter fell 27% from the previous quarter to $192 million.

Market review

DRWHO319

GR is effectively racing against running completely out of money.

His main prob is he has not yet (at all) demonstrated ability to produce sc6 in any quantity. And the price point of lower grades will not match the cost of producing it, make it possible to finance a self-funded growth of plant capability & capacity.

I reckon GR has a 5-10% chance of successfully save this project. I wish George good luck all the same. I reckon he has now recovered the money he put it.

@hasiba

“ Traders always try to twist facts for a better sp entry that serves their own interests… “

In the case of PREM, George sharing his ‘good’ news is easily the best de-ramp.

As I am sure you are well aware, in the case of PREM there has been ‘a new lower entry point’ in every month over the last maybe 18 months, following a frequent series of mishaps and lack of successes, so not much point in deramping for lower entry.

I reckon most derampers are long in PREM, but have seen their equity erode alongside an abysmal performance by management, even by AIM standards, and understandably are angry…

I’m amazed by the comments.

GR took you all for a ride 5-6 weeks ago, when he went to new investors with discounted shares. This to fund the plant be fixed.

Today he told you that the plant is miles away from nameplate capacity.

He couldn’t have been more clear about what comes next, other than screaming it out loudly. “I need many more millions IF we EVER are to produce at viable ongoing costs”

Hot day in Last Chance Saloon….

There is absolutely NO WAY GR can avoid asking for another ton of cash before June.

Remember, he told us he had booted stark out as nothing worked, and now called in the heavy hitters.

Today he in an RNS (better written than his usual) explains that only very few things on the plant work as intended. Yeah George, you do blame a range of other parties for that, true to tradition.

George also VERY cleverly states that “PREVIOUS” cost calculations came in at $800/t at mine gate, completely avoiding to elaborate at the CURRENT cost at mine gate, now where capacity is only 1/3 of expected, but 300 staff still involved. And I can only assume he now owes the OEM technicians a ton more money, also NOT included in the “previous” $800/t at mine gate. I may have missed it, but I do not recall CanMax ever agreeing to picking up product at mine gate ???

Anyway, I see a $5m cash call landing any time now. Todays RNS was George warming up the audience for it….

@acker

“plenty of profits left”

1) you need to produce it first

2) you need to sell it at a high enough price

3) you need a ceo with a track record of blasting through technical and financial challenges as if he was downing his favourite pint.

otherwise, there is no profits.

In my opinion - NOT A CHANCE

24% down on the month

53% down on 6 months

81% down on 12 months

Litmus test. If a ceo repeatedly blame everybody else but himself, and are cagey about who specified what, and who owes money for mods and repairs, then one should worry…

The exit door to Last Chance Saloon is now locked and secured….

Everybody still inside, best of luck….