Member Info for GoldDuck

Acker

That's a lot of negativity without actually saying anything.

Glen can buy prems debt from Canmax.

Anything further will require PREM board/shareholders approval

Acker

Yes - and those claiming everything was a 100% fine were were equally as stupid.

Because that's all that jaglith and the likes are- deliberately ignorant or as stupid as a plank of wood.

To reiterate my earlier point, they claimed, and explicitly I might add, that come the 1st of April it was all over, that PREM was bust, and Canmax were taking Zulu for peanuts.

As we have seen - they were wrong. This isnt with the benefit of hindsight, there are plenty with knowledge that told you that wasn't happen. There was plenty who told you that a tier 1 was genuinely interested, but they got laughed down and told that GLEN would never in a million years even talk to PREM.

Each fix/optimisation has taken us progressively closer to production. For you to refute that the plant can work now is just disingenuous Acker, and just places you in the same bracket as those other mugs who everyone can see have a ulterior motive

Acker

Please outline what deal that GLEN & Canmax can strike that would screw the us shareholders, without the PREM board or shareholders signing off on?

Jaglith

You also said that come 1st April Canmax would take Zulu for nothing, that there would be no LOI, and GLEN would never like twice at PREM.

Being kind I would say your knowledge is worthless. Being fair I would say the lights are on but nobody is home.

Jaglith

Pot kettle black.

What were all your posts about Canmax taking Zulu for pennies on 1st April?

Or that there GLEN would never sign a LOI.

Acker

You can be as disingenuous as you like, but the bottom line is the plant can now run 'uninterrupted whilst producing sellable SC5+' which meet.

On the venn diagram of Grade, Sellable (within the threshold of contaminants), and continuous uninterrupted running, this is the first time that all three have been achieved together.

There are still other hurdles as we all know, but possibly the biggest one has now been overcome. To suggest otherwise just shows a clear bias.

You've lost me on that Acker.

But whatever you are referring to, we have never 'produced consistently ' for 'an extended period of time' SC5+.

Simple as that.

Disappointing Acker, you're usually better than that.

How many times have we been here? Erm, never.

We have never 'produced consistently ' for 'an extended period of time' SC5+.

For a lithium mine I would say that's pretty significant and quite big news.

Nope, you must be mistaken. Jaglith Raydaar and Martini told us we would be bankrupt on 1st April and GLEN would never sign a LOI?

Jaglith, amusing to see far you can stretch those mental gymnastics.

You were claiming that Canamx would take all of Zulu on April 1st. Wrong

You were claiming that no company would ever sign a LOI. Wrong

You were claiming that GLEN would never even speak to PREM. Wrong

You were claiming that Graham Hill would never join PREM. Wrong

You were claiming that the inserts wouldnt turn up and there wouldn't be a test run. Wrong

Your track record isn't particularly good is it, one might suggest you don't have a scooby doo what youre talking about.

I wonder if you're just another shorter (if so how greedy can you be to not have closed it yet?!) Or did you lose money on PREM and now you are bitter and are blaming others for choices that you made...

This is comedy at its finest!!

Martinigirl, you really messed up. From 1p all the way down to 0.03 and you still didn't close your short. Talk about greedy!!

Now there is some signs of life and your last resort is to scaremonger a police report. Please please post a copy of your submission here.

On a genuine note, you've claimed there are only two possible scenarios in play, the status quo or fraud. What utter and transparent tosh.

Quite feasible (and in fact likely) that this equity swap is simply Canmax back at the table. An equity swap was afterall the precursor to their initial investment. Doesn't need to be RNS'd but you already knew that.

Btw, pecuniary, had to Google that one. What a lovely word.

Ah so you are changing the goalposts yet again. No sh** it isnt currently producing. But your argument that it wouldn't be profitable at these prices isn't true is it? Do you agree that it is viable at these prices if/when it does produce?

Im willing to admit that a suspension will take place if not released today, because today is the deadline. Thats no secret or big reveal like you're making it out to be. I fully expect they will be released today, and like a huge number of companies that also release on the final day, that is no big deal.

Funding would be in place by now, why? Because you say so? Because of all your experience in raising finance for junior miners says that it should be done immediately? Maybe just maybe there is activity going on that you are not privy to. Due diligence? Negotiations? Legals?

You still fail to admit or even acknowledge the effect of the hydroxide profit share. Why? That drastically alters the equation, even if costs are 600/700/800 etc.

Still harping on about suspension. My prediction is we'll get interim results today and an update on the plant. Mining is complex. Seems to work in the lab and is taking time to translate into application, as expected.

Funding agreement to come from Canmax and the show goes on. Lets see.

The cost of $500 is an internal estimate as was the previous estimate of $700. because guess what, costs are always internal estimates. And how convenient that you omit that always seem to intentionally not factor in the hydroxide profit share? I wonder why? Does that not suit your agenda?

Also lets see. Lots of talk about suspension but lo and behold, I can still buy and sell - so I guess we're not suspended. No doubt you'll make something else up if and when the accounts come out today.

The thickener is not required, the flotation circuit/plant can and will operate without it.

What it will do is improve the efficiency. It is scheduled to be installed in Q1, and has been confirmed the plant will not need to be shut down for its installation.

Martinigirl

They do have 12 weeks. Please read the full statement for context.

The production of SC6 needs to start (commence) by 1st November, the shipment of 1000t isnt't required until the end of November. The date of shipment was addressed as thus:

"Operations at Zulu have been temporarily suspended to allow for the installation and commissioning of the mill from RHA Tungsten. This is expected to be completed during the early Autumn and within sufficient time to meet the revised Product delivery schedule which has been agreed at an initial rate of 1,000 tons of product shipped to Canmax by the end of November."

Martinigirl

For discussions sake, say PREM do become insolvent, please explain how you think Zulu could end up being sold to Canmax for around 20/30mil?

I don't think your understanding of corporate law is up to scratch. In the worst case scenario, if PREM does become insolvent and subsequently goes into administration, creditors are brought in and assets are sold to the highest bidder on the open market.

Anyone could bid against Canmax.

Acker

Can't say I agree with you on those points.

I haven't always been convinced by GR's words, but on todays interview he seemed as confident as he has ever been (imo). I really do think we are at the finish line and am expecting to meet the November target.

When you say there is a lot of work still to be done, relative to whats already done and the challenges overcome over the last 6/8/12/18 months, the RHA mill which will get us producing doesn't really seem like that much.

The thickener will help but its not a show stopper.

Agree all is not rosy with STARK however, but it is what it is and its in as much as STARKs interest as it is PREMs to get us up and running asap.

And that's were I disagree Jag - I don't think that is the pertinent question.

Irrespective of STARKS sentiment , the bigger question is can they get us over the line from where we are now. Given they have built a $35m plant which contains literally 1000's of components over 400m long, and which now only needs minor fixes, I trust they have the necessary expertise and can.

In retrospect it was fantasy to think that there would be no issues, what is frustrating though is how how long it is taking to fix and the knock effect it has had on external partners (Canmax).

But like I said in an earlier post, its just another challenge to overcome, and hopefully the last one. Remember the issue with the chemical reagents, took weeks to be delivered, but a few weeks later all the outrage was long forgotten.

Fair - and no getting around the fact that deadlines have been missed and missed again.

However - the UV sorter + Hydrosizer were initially meant to be fitted, and the plant run until the new mill came in Q1 2024. Subsequently the Hydrosizer hasn't been as effective as expected (but not ineffective).

So instead of running it at further reduced capacity and with no mill, the decision was made to utilise the RHA mill in the interim.

Agreed that it's being strung out longer than anyone would've liked, but the many challenges have been overcome one by one and it seems to me like we are close to the finish line now. And also, to take it back to the point of share price - I refer back to my comment of the valuation of ZULU alone being worth more than PREM's mcap.