Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
No.1SS - That's a bit rampy :)
Which of FastForwards 23 Investments are you thinking of, that in particular are worth $500billion in 5 years?
Juvenescence, Portage or Factom?
$10billion is the worth then of FFWD's 2% of Factom (being the lower end of our entire Factom holding anyway) amounts to $61.73 per share.
That's approx £47.82 per each single share issued.
Obviously now it's just 7p.
If Factom is what I (and many others) think it is - your estimate might not be as nuts as it sounds.
If Portage (via Intensity Therapeutics et al) does what I (and many many others) think they do - your estimate wont be crazy at all.
If Juvenescense does what I and everyone in that industry thinks their companies will do, then you're getting very close.
Combined with EMMAC & the others, then hmmm ok.
But hey get real it's more like $50billion for starters tbf.
Even so it will make Leap's value of tens of millions pale into insignificance.
All eyes on Factom for now, while we wait & keep dreaming...
I think this could be of interest to anyone who wants to start their FFWD journey.
https://twitter.com/Bos_eye/status/1190412683084017669?s=20
We await the Governments decision. That's it, nothing GR or PREM can do but wait for the speedy Zim Govt to finish their long lunches/suppers/breakfasts.
If it has agreed to award PREM the EPO for ZULU then that is 57x brilliant news. Or 57x it's current value of next to nothing. Vast is in exactly the same boat.
This one small step changes the nature and direction of travel of both companies significantly.
You are either in when this lands or you are not.
But beware, there is a chance it might not happen.
Personally, I think that it will - I believe it is highly unlikely the Zim Govt would turn their back on a project of this magnitude.
Many are holding back waiting for the news to be formally announced. The rise to date is caused by those who are speculating (risking) that it will. In real terms the MCAP should continue to grow and start to reflect the Company assets more accurately, however this is AIM which is neither normal nor rational, both on the way up and the way down, anything can happen.
Great to see you post Fats. For those who don't know, here is someone who really knows his stuff, I can assure you all of that. Still a very long way to go.
I personally think that the inability of GR to raise capital via a placing is absolutely fantastic news for investors - the share cap limit being reached (for any significant amount). This rise therefore will not be held back or stopped in its tracks (like almost every positive bit of news in the past, not just in PREM but almost everywhere else on AIM).
Let's just hope we do get the EPO. It has not been granted just yet. If it is, then who knows? It could be sensational.
Thanks CF73 - it always gives me some comfort looking at the Pilbara share chart. Once considered to be a pile of excrement it then went properly orbital. I don't doubt PREM's will be similar. We're at the equivalent of 28th Oct 2013.
http://www.pilbaraminerals.com.au/site/investors-media/share-price-information (10yr chart)
2/2
6) Forgotten amongst all this is Katete. It was interesting that this was mentioned in a recent RNS. Wolfgang (previous head geologist) thought this was bigger than everything else put together. Watch this space.
Currently priced at £0
7) GR himself. I’m frankly amazed that PREM has survived. It has been through every possible nightmare situation. GR has £7m of his own money in PREM and has at times loaned the company money to keep the lights on. But I always liked this one fact. He knows he has the assets to make PREM a success and would be the first to admit that he has made mistakes. The relentless placings were often poorly timed, sometimes with desperation written all over them. It was often I believe nigh on impossible to raise money in Zim (see point 1)) with the penalties extreme. With high risk comes failure or high reward. Love him or loathe him his money IS where his mouth is. He will do anything to make PREM a success.
8) MNH – this is important. IF some sort of amalgamation occurs it is the start of income generation for Prem. Revenue. In the World of Prem this is big, considering all the other assets and where cash has always been a thorny problem.
9) I tend to look at MCAP’s for accurate guidance for the SP. Prems assets alone (should in the current market and circumstances, not in the old Mugabe World) be about £20m imo as an absolute base figure. With what we believe to be the EPO extension then £45m. JV’s – reversal with MNH £60m, RHA electrification completion £70m. JV at Zulu £100m minimum. Katete exploration £120m.However this is of course mere speculation. However, Zulu alone could blow everything out of the water. If VAST have a mcap of £44m already then to me, it says PREMS should way supersede that figure in the short term.
Mouth-watering potential, can GR do it? We’ll see very shortly.
I wish all those LTH’s well and I hope I can recover my Mums 1p average before she dies.
I don’t do short posts and am unlikely to reply to comments.
1/2
I've been here for years, longer than I care to remember. I've met the board, seen the sights and totally despaired at the Company. I pretty much gave up with it. PREM WAS PRICED TO GO BUST. That is now almost certainly NOT going to happen. Some thoughts...
1) Under Mugabe many investors simply would not go anywhere near Zim. GR has always had faith in the country which up until now has been an economic & political disaster. The Govt's U turn and 'open for business' mantra is seriously positive. Zim is mineral rich, probably the wealthiest mineral country in the World. Massive geological surveys were done in the old Rhodesia days to confirm this. The political about-face alone is of great value to PREM.
2) GR's failed attempts at TCT and ARCM was always his way of trying to produce revenue. Mozambique was unlucky (it really was) with the Govt banning ALL timer farming from export to deter the Chinese mavericks from massive illegal trading. ARCM was just at the wrong time, a poor decision when ZULU should have been drilled – but that is the past.
3) Circum is located in a pretty hellish area. But with the Ethiopian PM winning the Nobel Peace prize, this area is now open for business & the link to Eritrean & the ports is open. It has therefore now become attractive and it is a Tier 1 resource. Almost unparalleled in size, cost of production and quality of potash. The long-term dispute within the ownership of Circum has been a thorn in PREM's side for years. I suspect that patience and time has won the day - and I don't think that's far off now. http://circumminerals.com/
Prem’s current MCAP is the equivalent of this investment alone.
4) Zulu is exceptional. You all know the potential, many of you will remember GR balancing a rock of pure spodumene on his head. The one thing that has been missed from the commentary is that at the time, some of the results around the periphery of the area were breath-taking. This is why the increased area is so significant. It is a monster, another Tier1 asset. Govt assistance & sentiment make this suddenly very attractive & where a JV was extremely difficult, now it looks extremely attractive.
Currently priced at £0
5) RHA. I've always been caught in 2 minds about this. A DFS was never done which is a big problem. The Rhodesian Mining Association (I think) did quite a few surveys here though. These were very, very encouraging. The project though has been blighted by poor timing (the price of Wolframite collapsing being the main one) poor planning both in the mining (tailings) and with the equipment (crushers etc). One of the hardest substances to refine, GR has spent £20m on completing the processing plant. It’s all there waiting, it’s pretty impressive. All the times I’ve talked to GR he has always said it is massive. Potentially able to produce 4% of Global Tungsten (wolframite). The Govt’s backing of this particular project made me think they believe this too. Tier 1 (not sure).
Currently price
Look at the Mcap - that determines the value- (less Circum 10m)
It's been this low for months, what are you bleating on about?
Prem haven't lost these assets they have been priced according to the market value of them which is as you suggest shockingly low.
Thanks Wingnut1. Yes my long post contains more information for a potential new investor than the combined posts in your entire history.
I simply regret investing 3 years ago. Anyone entering the fray at this point will be handsomely rewarded imo.
PREM's MCAP is currently £11.6m.
There is no debt -the CEO has invested approx £7m.
Zulu - PREM await confirmation from KDNC for their involvement in Zulu in approx 3 1/2 weeks. This resolves any further investment by PREM in Zulu until DFS (when it will be unquestionably worth, multiple millions). Give that 18months.
RHA - Awaiting 2 important items. Any time in the next 20 days.
The most important is the ownership issue that has been shambolically dealt with by the Zim Govt. PREM cannot do anything about RHA until this is resolved. If it isn't signed off, then PREM will have no option but to dissolve the subsid. Company (in which the ownership of RHA is 100% owned) & start it up again. Either way PREM will have control of 90% or 100% of the ownership. Not bad.
The second is the Bara Consulting report on RHA. I think this will, one way or another, show a good deal of welcome guidance to RHA's prospects moving forward. In its current state and with the strong Wolframite prices it is feasible but there is just too much uncertainty atm.
I personally think that the investment at RHA will be fully justified, you may not agree, that's fine. In many ways it is still early days for RHA & its ongoing exploration. It is one of the trickiest products to mine and process & there will be hurdles along the way. I would like to see the risk partially removed with a JV of sorts. I believe that will give a much greater degree of confidence in the project. I believe external cooperation is being lined up (awaiting Govt sign-off).
Circum - Recent conflict resolution between Ethiopia & Eritrea is a huge deal for Circum. The border has reopened, the train track (directly from the main resource area) is operational. The port has reopened for business too.
This puts a value on Circum exponentially above what it might have been a year ago. It's a very, very big deal, one could argue that this doubles or trebles the cost of our shares as a result, easily.
If that were the case then our 5.15% holding of Circum is about twice the current MCAP. ALONE
Circum's neighbours, Danakili are IPO'ing in London soon. It is less than half the size of Circum. It will be very interesting to watch how this goes. Circum IPO has been pencilled in for Q4 or Q1 '18 apparently.
ARCM shares. I'd be very happy for these to be used to pay back the Company in the short term or when they become available. I see them as a nice convenience & if they need to be used, then so be it. I believe they're now showing a small profit. The loan however has been extended & there is a likelihood it will be further extended.
GR has indicated that he wants to minimise any (no) dilution. A new Chairman, a new FD. He's got the message.
There IS a great deal of positive news flow coming. So look again at the MCAP.
Some are certainly shorting PREM & for a year have done very well. It has been incredibly easy for them. You can tell by their volume of posts & extreme negativity who they
bluesky687 - The option to increase the size of Zulu is mouthwatering. It is an opportunity not to be missed. Have a look at the Scoping Study to just comprehend just how big Zulu is, listen to KM's interview for Kadence about the project, and then weigh up the opportunity cost of doubling it and for it to start producing in (lets assume) well under 2 years.
We should do whatever we can to apply for any extra area imo.
Extremely pleased to see this from today's RNS. I called out GR at the last investors meeting about this and about the (lack of) support of the Directors etc.. 3 Muti million £ projects coming to their climax is far too much for GR.
"The separation of Chairman and CEO roles is long overdue and is expected to enhance board oversight and direction. Michael has a wealth of experience in management and development of resource companies and I am appreciative that he has agreed to work with me over the next 6 months that are critical to realising the vast potential that Premier offers."
Pay attention to the wording.
"I am delighted to have been appointed as Chairman of Premier. My focus will be on strategic governance, improving all aspects of board oversight and assisting management meet targets and advance the Zulu Lithium Project as well the RHA tungsten mine in Zimbabwe.
George Roach has assembled an excellent portfolio of assets over the years and I believe that with the right approach and partners significant value can be unlocked in the immediate future."
The Zim Govt owe us nothing. Is that what you were trying to say? Correct.
RHA ltd owe us the cost (approx £25m), due to be recovered prior to any profit share profit as you stated. We are just waiting to receive permission for full ownership that then gives us the flexibility to get the best from RHA. This then changes the dynamic of RHA ltd and PREM's holding which is why they wanted the ability to resolve these changes at the AGM - hence the delay. The impairment process satisfies the accounting process moving forward.
First - "...the total orders received by QM Systems in the four months to 30 April 2018 was £1.9 million."
Second- "...combined with an order received earlier this year for the initial stages of the project, is worth in excess of £1.6 million and due for delivery within this current financial year."
Mcap at todays close £2.21m.
Going great guns. Extremely promising.
I hope folks realise that there is no Darwin holding this back, selling into a rise as has been the case for every other subsequent rise. There is NO DEBT, this is stunning news for PREM. It will now keep moving up in waves.
Mining and deals take time -patience is everything and now GR has got the funding for Zulu DFS to rapidly move it along- which values just one of our assets at £17m minimum. If its a dog, its a multi million pound one. lol
This is PREM's time. She's got a long long way to go.
Great start today. Well done GR! So finally The REM style rerate has begun! What an irony.
Knocked and kicked about for so long PREM has justifiably got a huge amount of ground to make up to be anywhere near fair value.
I've a 2p target in mind to start, I don't see any reason (now that we know PREM isn't going bust) and with RHA and CIrcum news just around the corner why that shouldn't be a first target,
Zulu is worth billions on its own. DYOR as always...