Member Info for fatsuperman

For crying out loud, he’s being honest. He didn’t expect that news (who did!) and is out. He set his stall out when he bought in saying what his targets were and why. He’s obviously changed his position as the facts have changed. Which is far more honesty than the majority of people bashing the life out of this share

Yes Crocker. You keep your PREM shares and get new one shares. I wouldn’t expect 1 for 1 as the newco won’t want the same no of shares in issues, but it should be comparative so that part doesn’t matter.

Your PREM shares are just for when Circum lists and PREM can monetise that asset - it’ll just be a special dividend or annual dividend I guess. The former makes much more sense.

The NEWCO shares will be for RHA production and ZULU development. Plus exploration etc at the other projects

One would assume that they stated 48 hours because that's what the government asked for. I mean, I'm no genius or anything, but I'm going to take a wild stab and say that is it.

Don't want to be pedantic, but most businesses and governments don't include the weekend as working days. So this is 2 days late so far, against the Zimbabwe government timeline.

Well you don't have long to wait to get confirmation, or you could get in touch and ask about placings to cover RHA/Zulu and you might just get the same response.

Some of us have been peeking in our bottom drawer for 5 years on this one. Not a new story, especially on aim, but perhaps this is the start of finally unlocking the potential

*12 months :) :)

Franny, 1.5p is about £110m market cap. I’d think that there is a hell of a lot to get through before we get to those numbers, so I’d be surprised if we saw that within 6 months. Once we start moving on Zulu DFS, and drill the life out of it, we could be getting there, assuming RHA going well and some IPO news from Circum. Would love to see that within the next 13 months

Been invested in PREM for a long time now. And I like to think that over that time I've developed a bit of a level head about all of it. There has been so much work put in over the years, and so many false dawns. I would be extremely hesitant to say that this is the start of a new era for PREM. The truth is that we'll only start a proper re-rate once we are steadily producing at RHA, and drilling the crap out of Zulu.

Neither of those things are happening this week, so whilst there is certainly money to be made for traders in the coming days and weeks, some people looking for a quick in out are going to be caught short.

I think it's 'somewhat optimistic' to include 'RHA profitability imminent' in that list :) Unless you are using GR's definition of the word imminent.

I would very much like all the updates you've mentioned spread out, ideally over a four week period. An all-in-one monster RNS would be the worst possible way to deliver good news. Sadly, GR likes doing it this way.

And to be fair, if that happens, then the company has failed and folded, the few hundred k for ARCM shares will be the least of our worries.

That loan from GR does not have Circum shares as collateral. That was a different deal, perhaps one of the Darwin ones, where they insisted GR back the loan with the Circum shares. I'm not certain, but I'm pretty sure all of that is complete now. I cba to check :)

Decent people Red?! Well I know you aren't talking about any of the reprobates we chat to :)

APT isn't traded on a market, so it's not like there is a live spot price to display. It's based on trades between producers and end users, so if you find a price somewhere it's very likely based on reported trades (and most companies don't disclose what they've bought or sold something at). Metal Bulletin will be the best resource as they have relationships with a lot of the big consumers and also trawl various other resources to try and find out about product movemebt

Charlie, APT is sitting at around $320 per mtu

Hey Charlie, the placing yesterday was to an investment group, of private individuals. They had approached PREM and are expected to hold for quite a while, hence why we didn't get the usual reaction to one of George's confetti releases

I find it odd that there seems to be repeated talk of another tungsten project on this board, but odder still that people seem to indicate it is a better investment. As far as project risk goes, surely you've got to consider that a built and operating plant is a far safer bet than one still under construction. WLFE may well be some way off profitable production, but you can guarantee WRES is far, far further away.

We miss you LVL. Ginge especially :)

I understand the frustration here, but there really is some absolute nonsense posted from time to time. Someone said recently that the price of Tungsten wouldn't make a difference. Clearly, it makes all the difference. As the price rises, a mine can become profitable even if it is not operating efficiently. If you have low grades, you can still make money. Wolf are going through a very typical optimisation process, yes it's very painful and I suspect they have realised a lot of their assumptions about the resource were inaccurate. These problems are not insurmountable, it just takes time to get a better understanding of what you have and to make the necessary adjustments. Tungsten is an incredibly hard material, and parts of the plant will wear out far faster than they would on a softer metal. This also seems to catch people out, a strong maintenance plan is needed. The plant will be linear so availability is as key as resource grade. Nobody wants to hear it but patience is absolutely key. If you still believe in the asset then nothing much has changed. I have no idea about the financial position, but at the end of the day, if the company needs a little bit more to get over the line, then it's hardly going to bankrupt everyone. The massive capital costs are already paid, so you aren't looking at horrible dilution even f they did need money - which I categorically do not know - this isn't a de-ramp. I do hope that they can get steady state going and take advantage of the current strength in APT pricing! Best of luck all, Fats

You're a gent GK.

Hi Kluck, thanks for the heads up. I've been looking for the paper but haven't had any luck - do you have a copy (the file name would be a huge help). Thanks, Fats