Scancell founder says the company is ready to commercialise novel medicines to counteract cancer. Watch the video here.
*ALL | £215mil | PFS | 30.1mt | Production 2024-2025
* PREM | £75mil | DFS to be complete in Q3 this year | Current 20.1mt resource from 2,500metres drilling, resource upgrade soon from 20,000metres drilling that's been hit | Production target Q1 2023.
Morning all, I did give you all a heads up yesterday!
https://www.**********.co.uk/rns/announcement/1d0953b1-ec3f-4894-9782-b99f79fd16c8/
Highlights
· Target annual production from pilot plant of 50,000-ton SC6
· Take-off for target production committed to Suzhou TA&A
· Pre-purchase of production pays complete US$35 million construction cost
· Minimum price undertaking for first 50,000-ton production underwrites repayment capability
ALL and PREM my picks!
ALL | £215mil | PFS | 30.1mt | Production 2024-2025
PREM | £75mil | DFS to be complete in Q3 this year | Current 20.1mt from 2,500metres drilling, resource upgrade soon from 20,000metres drilling that's been hit | Production target Q1 2023.
"Based on this plan, it is possible that such a plant could be in production in Q1 2023, funded under an interest free prepurchase payment for spodumene concentrate to be supplied."
https://www.londonstockexchange.com/news-article/PREM/interim-update-zulu-lithium-project/15491193
KOD, BHL, FRG all worth a look in too.
Load up on both everyone $$$ to be made. As always DYOR and good luck.
@jonny fair enough and appreciate the reply. I wish you good luck in making a good return out of your investment. I'm confident you will here.
I have no interest in trading my shareholding and selling in the .3s, .4s, .5s or even .6s for that matter. At around 1p 25% of my holding and will hold the remaining 75% for the long run. The skies the limit once in production and churning out revenues.
I 'm not selling despite being in profit because the company has never been in a better position on many levels and never been closer to production. I'm interested in seeing what all the drilling will bring out of Zulu too in terms of both DFS and resourse upgrade and will patiently wait for the value those will bring too. When combining all these developments, PREM is an easy hold for me.
In the final 15 minutes of trading I wasn't able to get a buy quote. I also did a dummy sell and mms were happy to take a large chunk, so considering they're short on shares and happy to take a lot, it bodes well for tomorrow / this week based on the movement this afternoon. These things can quickly change on an hourly / daily basis we know.
The tweets about drilling the pits and building the roads are enough to know we are very close to getting the financing over the line.
A real gift under 0.4p that I didn't expect.
I am buying more today if traders sell this below 0.4p. This is huge news and financing is a formality and probably very close.
Why mention ordering long lead equipment for the mine back in early March if they haven't started on the design. Ridiculous Daz. In fact plant design has been looked at since the scoping study in 2017 and refined since.
Cool, so even if we sell for a conservative $3000-4000 a tonne, still absolutely fantastic for PREM and completely viable for Zulu considering the project work continued at a price of $800 per tonne.
No one said it's full production, but a large pilot with modular growth at a rate of at least 5 tonne of spodumene per hour, on a continous basis as stated is a crap ton of money for PREM, which is transformational - from no revenue to millions per month.
Both Suzhou and the Chief Operating Officer that was hired in Jan will have improved both competency and urgency here.
Prospect Resources - AKA Arcadia Project in Zimbabwe
Pilot Mine announced/commenced - 11th Nov 2020: https://www.prospectresources.com.au/sites/default/files/asx-announcements/61006612.pdf
Pilot Mine near completion - 7th June 2021: https://www.prospectresources.com.au/sites/default/files/asx-announcements/61035856.pdf
Pilot Mine in production - 25th June 2021: https://www.prospectresources.com.au/sites/default/files/asx-announcements/61038157.pdf
Turn arround approx 7 months from announcement to production.
Arcadia Sold for in Nov 2021 for $422million when the lithium price was around half of the current price and has since seen an additional $300million in investment, total $722million. Around 7 times PREM's current market valuation.
-If PREM announces a Pilot mine in June 2022, then on a similar timescale it could get into production January 2023.
-Earlier in the year we know the rigs increased to 6 and were centralised to the area where a prospective mine would be and from at least April drilling has been 24/7, probably earlier than this.
-Around March, George mentioned using part of the £12mil funds to order in advance long lead items for a potential mine
-In the April Stockbox chat, it was quite appararent that the focus was now developing a "large scale pilot plant" which would get Zulu into production "as quickly as is possible", producing at least '5 tonnes of spodumene and hour on a continious basis' It was also implied such a plant would be modular and be expanded
-Roads are being worked on from Friday's Tweet to move Zulu to the "next phase"
https://twitter.com/Premafrimin/status/1535256230884790277
-Development of pits
https://twitter.com/Premafrimin/status/1534090055723143168
-Suzhou will likely fund, fastrack and use their expertise to get this up and running quicker thanthe average PI ever dreamed of
-Original Zulu scoping study was based on Spodumene at $800 a tonne, now up to $5000-6000 a tonne, this is why PREM is going down the route of a pilot plant, because it means hundreds of millions of dollars in revenue in 2023 alone. PREM could command a £500mil mcap in 2023 based on such numbers. SP over 2p on production or via buyout.
Strange time to mention upgrading the roads around Zulu, must be for a good reason. Hint Hint.
https://twitter.com/Premafrimin/status/1535256230884790277
Almost Roman, but we already have the established maiden resource which from a small amount of drilling revealed 20.1mt of estimated resource at good grades. Since then new zones and extensions were indentified at Zulu and have been drilled with promising signs, the EPO awarded, further results have been issued (but yes, much more shoulld be coming our way), a DFS programme which is now close to 20,000mt drilled is in the final stages, 13 parties have spoke to PREM to do a deal and one that did and invested a decent chunk of money at premium after several months of due dilligence. Then they have sent their man on sight and have seemingly offered more money to fund and help build a large pilot plant/mine as soon as possible.
Not quite buying a storage locker and not knowing what's inside.
Seems like there's increased confidence the RNS confirming funds, development and fastracking of a junior mine build has already been logged and will be released 'imminently'.
ACKER - was going to ask for your year end price target, but enjoy the garden. PREM SP will take care of itself when all the news lands.
Intraday or after hours RNS on a Friday would be perfect, like we've had before.
Giving us all the weekend to digest PREM as a producer.
Thanks for the post, banking on an RNS after hours tomorrow if the new wording has been approved, if not then Monday.
Exciting times here with so many different pieces of news to drive up the SP, whilst the shares are so cheap at Suzhou's buy in.
Bring them on and let's see north of 0.5p again. :)
ACKER - Arcadia's pilot plant cost $6mil and was up and producing within 9 months from announcement.
Presumably this will cost a bit more, as it's large scale pilot plant and may be up even faster, as "accelerated" and "as quickly as is possible" were mentioned.
So the claims that a large pilot plant will be fully funded and PREM could be producing as early as Jan/Feb next year hold up and seem likely, as George's dream has always been to get Zulu into production and selling spodumene. Repeating this several times this year. He can now do that at these record prices, whilst Suzhou meet their needs and secure more supply.
ACKER - I listened to the last interview again. The terms for a pilot plant interview were presented quite clearly and sounded straightforward, realistic, very likely and very favourable to shareholders. Repayable through production.
Securing the EPO and £12mil funds was the hard part.
Easy part is the pilot plant, which Suzhou has very likely already funded for their own immediate benefit as well as PREMs.
Formality RNS now to confirm this by the end of the week should land.
Interesting comment.
There's no real pattern with PREM RNS, sometimes AM, sometimes PM. My personal preference with a big RNS is its released after close, towards the end of the week, so that the market can fully digest it.
It is common to see institutional pitches and investment before a long developed project is either on the cusp of being sold or when said project is about to generate significant revenues, which Zulu seems very close to now. Now we await RNS to see how Zulu will get to production "as quickly as is possible".
Instiutions are also very eager to buy into this sector, as we all know and can see from the global coverage.
This will be the biggest news release in the history of the company.