Member Info for Jenkoo

5) nice to haves are; (a) an acceptance of

5) nice to haves are; (a) an acceptance of

Just a few thoughts:

1) 21days notice for EGM, then time required to finalise a funding partnership…. we are almost at the point of no return (assuming funds last up to eom)

2) if GR is struggling to negotiate ‘fair’ terms with Canmax he should call an EGM as a backup and for a small amount of leverage for Canmax talks. He could always cancel if a deal is agreed.

3) the longer it goes on, the weaker Prems position gets.

4) key parts of the funding are (a) payment at mine gate, (b) smaller shipments, (c) reduced monthly amounts of SC6, (d) further prepayment of circa £2m+, (e) loan interest to repayed via SC6 and repayment deferred.

5) nice to haves are; (a) an acceptance of

People should recognise that if the next RNS states sub 6%, modifications have already been made since those bags produced and the hydro separator to come later this month.

J

The way that Stark guy talks about the Spod separation and only needing 1 cleaning stage possibly 2, but they have 3 if required…. Gives you hope that they have used all 3 during commissioning and therefore I higher likelyhood of SC6 with impurities removed.

Surely you start at 3 and reduce the amount to hit optimal concentrate. Very interesting video from Mark and team.

Also, as SK mentions, at the end of the video it confirms UV sorters are now installed…. Further increasing chances of higher concentration.

J

I’m pretty confident we will have some mixed grades as others have said. If the latter bags are SC6 then I’ve come to accept the new schedule. If we have no SC6, Stark have failed on every metric and Prem will need a bigger £ raise.

Some big news to land one way or another this week.

J

Martinigirl - I suspect he has informed Canmax of the % and they are now drawing up the deal details. He will do it in a single RNS. J

Give up! haha. Will be hotchat as this rate!

J

Chances are GR has the SC% in his hands (there were imminent 3days ago). If it is SC6 then Prem have a a reasonable chance of hitting first delivery target. If it is

Lse Cutting my messages short… weird

J

Chances are GR has the SC% in his hands (there were imminent 3days ago). If it is SC6 then Prem have a a reasonable chance of hitting first delivery target. If it is

Chances are GR has the SC% in his hands (there were imminent 3days ago). If it is SC6 then Prem have a a reasonable chance of hitting first delivery target. If it is

Lav - My filter has never worked so hard!!! Good luck to you and KOD too. You all deserve it having waited patiently.

J

Lav - you will see by my posts lately i have not been shy in hiding my disappointment. You are correct in saying that the SC % is unknown, finances need addressing and situation bad. Particularly until investors understand Canmax position. This has been reflected in the SP drop. People now have a choice to believe/not believe/wait it out. We should all respect each others decisions.

I will add; those cross trolling between Prem and Kod need to grow up. Its childish and jealous to act any other way. I hope both do well.

J

Another one for the filter...

On a more positive note; good news is Canmax look to be working a deal with Prem given there was no triggering of the clause at 7am. Dont think too many of us are surprised.

J

Jaguar - As it stands you are unfortunately incorrect. Current contract needs superseding to allow this.

J

Redtrade - IMO any kind of extension to SC6 offtake agreement is an easy win! It helps Prem as much as it helps Canmax so happy with this. I get the feeling it wont be enough for Canmax though, so an increased discount likely.

PM01 - Interesting question. Right now i would suggest Canmax. the only reason I suggest this is because in the grand scheme of things 4kT pm is not a big deal. I do however believe they will not trigger the clause and support Prem because the longer term benefit outweighs the short term and the Chinese play the long game (and very well!)

J

Many suggesting Prem will get what they require from Canmax…. But not many people talking about what Canmax get. Any suggestions???

People should be ready to accept Prem will have to pay for the lateness and new terms.

Could it be higher discount over longer period? A piece of Prem?

Those suggesting Canmax would not be interested in a piece of Prem should be aware that if they did indeed decline to participate in a placing previously … the situation has now changed. Since then they have found out they are not getting 4kT pm and Prem are vulnerable, needing favourable terms. I think it’s reasonable to assume they would now partake in a potential raise. Why? Well prem need money and new terms and Canmax need to help Prem to ultimately get their SC6, however their shareholders will need to see some benefits out of the contract break and late SC6, therefore taking another 5% chunk of a potential multibillion mc company trading with a £150m mc seems fair to me. Sensible thoughts or other options welcome. (Those suggesting Canmax will bend over backwards at no cost to Prem need not answer)

J

After further exploration of Li3 and months of Zulu revenue, Prem should look to finance Li3 Pilot Plant.

Prem become the funder and the max beneficiary. Rinse and repeat

J

All I’m saying is, those that expect Canmax to agree to new terms after being told of huge delays, without getting something in return, will likely get a shock when the deal is announced. Just want people to be aware

J