RE: Some nice big buys today9 Aug 2021 22:01
Some people have been posting on this forum asking why no update ? On Friday we had the RNS and update. Some investors and indeed the market obviously did not like what they read concerning the delay at customs for the testing lab and also the info regarding RHA.
I would agree that the rns could have been written better written and in a more positive way with Zulu prioritised before RHA. However we know that the 2 rigs on site are now and Stock building samples. Once the lab is on site, the samples will be processed quickly with results being given on a regular basis, even more so, when they they have the 3rd rig on site. Prem stated in the Rns that everything is still on schedule, which is very positive.
As Acker has already stated, COVID has obviously played a part in the delay with the lab at customs, perhaps only a day or two, perhaps a week, who knows.
Regarding RHA, gr has already stated previously that no more of Prems money will be invested in getting RHA up and running again. This was confirmed in the Rns and will either come from money owed to Prem or offtakers. If RHA is not consuming any more of our money and can be recommissioned at a profit from other sources, then surety this is another positive. Once up and running and if turning a good profit, perhaps it could then be sold off ?
But the above is all my own opinion of course and I remain very optimistic that once all the rigs and the testing lab are onsite and running full tilt with regular updates then the share price will react accordingly.
Certain posters have spent the last 3 days writing nothing but negative posts about Prem, perhaps you may be better off selling up and moving to a safer investment.
I for one have taken adavantage of the drop, and like many more today, I have added to my holding. I am building a very large holding and will continue to add on any weakness.
The potential for Zulu is there for all to see and now is a good time to take advantage. Once news and sentiment increases, then that is when we get our rewards.
Not one for widows, orphans or the impatient...but in 12 months time we will be in a far better place.
Good luck to all genuine investors.