Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Thinking aloud. I think GR has learnt his lesson which has been rammed home with the current share cap limitation and SP. He has to protect the MCAP/SP with fewer raises and therefore less dilution.
This raises the question. Good governance dictates that even if PREM had £10m in the bank the share cap would still want to be raised because frankly it would be foolish and bad practice not to. He is terrified of going to the AGM requesting a raise with nothing to show for it.
He knows that even though it is essentially something any responsible CEO would do - he and the SP/MCAP will get further crucified. He's known this for sometime IMO. So, on that basis the deadline for negotiations has probably been set to ...about now. We know negotiations are at an advanced stage anyhow. This applies to Zulu.
I also happen to think that Circum will announce very soon considering the new circumstances (State of Emergency lifting) but this is my opinion. Dattels is desperate to do this as well as us.
RHA & the Zim govt is the random one, but I don't see this as a problem. What I wonder is if they are hoping to invest into RHA as part of their 'new' ownership. The 10% left on the table by GR is curious. Perhaps that has been the sticking point. Their investment of say 10% effectively values the project and it might not be what GR is happy with, as that then prices in further JV agreements along the line- who knows!
Perhaps the AGM 'fixed date' requirement might also be something he can use in talks with the Zim Govt as it is crucial that at the AGM he can vote on and change the new ownership amounts their. No doubt this is all requiring a lot of behind the scenes work and it seems Africa is more suited to slugs than cheetahs!
So who is to know.
I just think the line has been drawn and something will be upon us very very soon for these reasons.
Well... it is.
If you think this is going bust, sell up now. If you don't, then with a teensy weeny bit of research and some basic maths skills you can calculate that 2 out of the 3 tier1 billion$ resources have been awarded 'null points' in the market. Added to that, we know news on all 3 is very, very close.
I'm flattered that you directly attack me, but I'm just attempting to highlight the potential on the other side of the fence. (for once) which I personally think is compelling.
Be interesting to see if the Govt actually invest in RHA, I believe they have a fund to help small resource Companies and they are desperately keen to show intent with the mining World watching on. It is imperative that they give support to companies like PREM who frankly are one of the few companies to have battled through the previous regime and have no doubt struggled as a result. We've shown faith in them I wonder if they will to us?
Now that would be something!
I think I've posted 30 times in about 3 years you loon. And yes I'm down like hundreds of others, and yes I should have sold back then and yes I have been topping up furiously at these ridiculously low idiotic prices because over those three years I've learnt to take advantage of heavily trolled boards (thanks btw) and understand AIM a bit better and how to take advantage of Co's with insanely low, priced to fail Mcap's in relation to their assets by doing a thing called research, but there again perhaps I'm a bit deranged and can actually see the bigger picture here & comprehend the nuances of mining and the swings and roundabouts of expectation.
Let's clear this up...NEEIF has nothing whatsoever to do with the running of RHA. By law it owns(ed) 51%. It contributed nothing but it would take 51% of its profitability. It's why nobody invested in Zim.
RHA ltd was set up as a 100% subsidiary of PREM's to explore, build & run RHA. It was in turn financed through a loan agreement given by PREM. The loan was to be paid back to PREM solely on the mines profitability. It ensured that PREM would be paid back for its 'investment' & get the best return without having to effectively pay 51% tax. We will hopefully now get 90% or full ownership (or RHA ltd will) very soon. NEEIF owe us nothing.
The mine itself has had very well documented issues. The main one in my mind was that it was not fully explored prior to works commencing. It clearly is a good resource but without a DFS it is very hard to value, which affects its own value, others' value of it and possibly the Governments value too. However built for $25m it is about a tenth of an equivalent mine/plant cost & took circa 2.5 years to build (normally 5-6 years).
The last big financial push to get production going was also the one that saw the SP dive along with the investment into Circum.
GR appointed a mine manager & a new contractor (they are paid according to performance) to get it all up to scratch. When the interviews & RNS saying they were expecting production profitability by Xmas last year, I don't think GR or anyone else would have questioned it. The mine production & therefore profitability was strangely halted just after Mugabe's fall from grace had taken place. I think it was a calculated move by the PREM board to put pressure on the new Zim Govt to speed up the transition of ownership as they had indicated. It was & still seems very logical to do this. RHA Ltd & PREM can do absolutely nothing until ownership is resolved satisfactorily.
Obviously 90% - if we get it, is a big deal. It shouldn't alter the payment system back to PREM via profitability for the $25m or so costs, but what it does do is open up alternative funding. It means that various deals can be looked at.
A JV with ANO ltd taking 35% for a fee of say $5m is OK - 39% for a larger fee still better which places PREM in a better position than previously. The reason we need RHA to be in a JV is because they really do need to drill & explore further. It will cost $5-10m to do this. What we don't know is if the operator/management changes in a JV situation etc. I'm still relatively baffled as to why the Govt should have any ownership at all. This is possibly a bigger picture thing related to Zulu and/or the disputed mining rights to the land surrounding both RHA (Copper rich) & also Zulu... Perhaps the Govt will invest in their 10%?
RHA should be worth $25m, absolute minimum. Currently $0.
Zulu lithium, absolute minimum $20m. Currently $0.
Circum IPO is close at hand.
Priced to go bust? I don't think so...
What an absolute bargain price this is now. It really i
...and that is the reason I don't post. I've been in PREM for 3 years. I put up a very basic statistic, I don't even comment on it. That baseless stupid bitter attack makes me think we're about at the bottom now. Your fear is there for all to see. Your fear that PREM is about to turn around which will disprove all these mindless headless time-consuming idiotic lies, manipulations and fabrications... You are about to be utterly humiliated and that will be just reward and an apt balance to the utter humiliation the LTH's have had for such a long time. You are absolutely riddled with fear and loathing, I feel sorry for you. Oh and look very hard at the first post and see if you can work it out. See you at 2p.
Circum is a big deal... Circum Minerals direct comparison with Danakili potash at Colluli: Colluli reserves - 1,300Mt 50% owned by Danikili: Mcap AUS$180m. Circum reserves - 4,932Mt 100% owned by Circum Minerals - #PREM 5.15% Current @Premafrimin mcap £10.05m You do the maths.
The tie up with IMG is enormous- this really is tremendous news for LEAP and our 37.9%. To be down after those 2 RNS's the first showing a £6.5m profitable return on the Aphria investment is frankly stunning. Much more news in the pipeline & I'll be surprised if this doesn't bounce back very hard. Perhaps there needs to be a small bit of PR explaining the impact of these. Very little coverage so far.
The Ethiopian Parliament today lifted the official State of Emergency two months ahead of schedule. It had been introduced as a precautionary measure in February 2018 upon the resignation of the previous Prime Minister to facilitate a transition to a new leadership, which has since occurred smoothly. I suspect this frees Circum to IPO as previously planned & as was scheduled before the SoE happened. Might cheer some of you up!! and errr whisper it (get in...!)
I think this has gone far enough now!
Only 59m shares in issue and a mcap of 5.5m = likely to move very fast.
Leaky leaky leaky...
at 25 - thank you sellers.
What a result, bought in, will hold long - like what I see here having followed this for months..
Can someone explain why? On the back of what seems a reasonable RNS? Onlooker just curious as to why the company has lost a 1/4 of its value...
So now we know who they all are...
Helllllllooooo - Am I right in thinking that this share is comfortably imbedded in Middle England? No need to make a fuss! There again if that's the case this is as solid as it gets. 2% of HH and 2% of vast quantities of oil. Superb.
14-May-1509:08:320.2321,000,000Sell* - Is actually a buy. Thanks for your posts, I'll be in for the long haul here I've got a nice feeling about EVO- very underrated and under played. Imo.