The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Now that this RNS does not mention the 50 tonne production, and the last RNS did, PREM is pretty much guilty of market abuse for misleading statements. maybe a bored FCA employee could look into it....
George will have to announce the EGM shortly. it requires 3 weeks notice and the 1.25 million and 2 million for Goddard is for already incurred services. So George needs another 3 million USD by the end of May. That means EGM in June to raise more funds.
Wullie - well this is George getting his comeuppance then. His being economical with the truth for years about RHA, MNH, Circum and now Zulu is catching up with him. According to George, PREM's opex is around 2 million a month. This does not included any outlays for additional kit/equipment. in mid April George raised 3 million. by next week all that money will have been spent and debt for the equipment purchases and OEM time is adding up. So another placing is imminent as George likes to say
Take your bets! Those 'institutional investors' who participated in the last placing are pretty much already down on their investment. Even though they got it at .17, if they tried to sell now with the lackluster liquidity, they would at best get .17, maybe .16. So the next placing to make them whole has to be a massive discount. a 30-40% discount is .10. sounds about right.
Botuney - I read the link you posted.
So based on the 25 May 2023 RNS from PREM where it states "expected production of concentrate to 30 June 2023 will be 1,376 tons and production for July and August will be 1,137 tons per month, increasing to 2,359 tons in September, 3,577 tons in October 2023 and 4,471 tons from 1 December 2023" do you think PREM is guilty of market abuse according to the misleading statements and creation of false or misleading impressions clause in the link you provided.
How is that rubbish? production is material to the company and needs to be RNS'ed. no production RNS, means no production. or you can wait until the end of May, when George releases an RNS no production have been achieved in May.