……and right on cue…….30 Sep 2025 15:50
as soon as an rns drops and it’s not perfect, the ****roaches, many of whom probably don’t even hold prem shares, come out to gloat.
rather than the negatives, i prefer to focus on the positives in the rns:-
1) the primary focus is now the plant.
2) while zulu was initially set back by the underperformance of the original plant design and build, those challenges are now firmly understood and to a large extent, manageable. in fact, the optimisation steps undertaken over the past three months, including the installation of flotation inserts, froth crowders and flow directors have already resulted in a significant improvement in recoveries.
3) adjustments are being made to address spodumene grade, and we are confident that continued refinements, supported by the oem, will bring further gains as the plant steadily moves toward its designed performance.
4) the review of the secondary flotation plant is nearing completion as announced on the 20 august 2025. subject to the outcome of the current test run, we expect to be in a position to update the market on whether the acquisition of a secondary flotation plant will be required for ongoing operations in either a primary or supplementary capacity to increase existing designed production capacity.
5) looking ahead, the key to unlocking zulu's full production capacity lies in the current discussions on a revised offtake agreement and securing the complementary funding package. our constructive engagement with the major trading house referenced in previous announcements is ongoing with the shared desire to see this through to final agreement both with premier and particularly with canmax.
7) simultaneously, the multi-option approach discussed in the 2024 annual financial statements continues to be advanced as part of the company strategy for zulu. active negotiations around our other projects underline our belief that we hold not only a flagship operation in zulu but also a portfolio with meaningful value to unlock.
8) most importantly - in summary, zulu has the resource, the infrastructure, and the market access needed for long-term success. optimisation is progressing, commercial discussions are advancing, and the board and i believe that premier is taking the necessary steps to restore value for shareholders.
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