Member Info for Jenkoo

Johnny - That is a good point. I can see how that could work.

Laverda - Suspended not scrapped = You are correct. Not sure why some people think FM gives Prem the right to do whatever they like for 6 months. FM is not a holiday from a contract.

J

Im_trying - Exactly. Thanks for sharing. Force Majeure is a very bespoke subject as for many Project Managers it never comes into play in an entire career. Covid being the obvious exception.

J

Acker - I understand we have possible financiers, but my question is more to do with how we repay them when the early part of the SC6 production goes to Canmax due to their shareholding which is directly linked to offtake.

I don't think Prem get to claim FM has stopped production and all contractual agreement pause for 6 months, then in the same breath start to produce SC6 and sell it elsewhere. That really is taking the p*ss.

Maybe they could claim FM up until full production, but the current contract still binds.... Canmax get 100 of production once SC6 becomes available. IMO

J

Would be good for GR to get the PR machine back up and running with the delivery of the hydro sizer.

I’m very keen to understand:

* how Prem will payback the new financier (guessing remaining 50% but I believe Canmax get 100% until debt repayed)

* how FM is affected when Prem are at 50% capacity.

J

I make it 2k (ish) but as i suggested earlier i would think its 2k tonnes of SC4-SC5.5

First SC6 to be made in August im speculating due to optimisation of new sorter.

J

Bear in mind though, 50% of nameplate throughput of the plant does not necessarily mean 50% output of SC6. Grade is dependent on what is fed in,,,, which i dong think is in question at all, but Stark were very clear on making that point clear.

J

Acker - nameplate

J

Did anyone else notice they said they didnt expect these delays of weeks due to border control and then on a later question, they stated they have spent years in Zim and understand how there can be delays due to xyz and deliveries.

Overall, i think it lends to GR communicating out a plan that has no fat in it...... both money and time.

Anyway, looking positive based on todays interview. I just hope we hit 50% of SC6 production in July, but i estimate first SC6 wont be made until August as there will be some further requirement to optimise new sorters.

J

PM01 - Agree. IMO if these risks were indeed explained to GR by Stark, then he is to blame for not adding in significant optimisation time to offset the significant risk. Managing expectations early can be the difference between looking like a hero or zero.

J

A very bullish end to the Stark Interview and nice to see their confidence that Prem will find a new financier easily.

J

StockBox interview will be released this morning. Confo

J

Anyone have any idea why the Stark interview isn’t out yet?

J

Alan - unfortunately those who can only comment positively at a time like this are either trying to influence or need a dose of reality. There are so many ways this could go and I’m desperate for success as a LTH. But also I’m a realist so won’t let my desire rule my logic.

J

I think people need to reduce their expectations of todays interview. This is about STARK. Protecting their damaged reputation and GR will release no new info as he won’t rns.

More tosh I’m afraid with no tangible info to be released.

Hope I’m wrong, but I won’t be.

J

Also what price could we get for said SC4 based on the number of bags.

J

Firstly let me acknowledge that many have lost a lot of money here and hope those people are doing ok. Yes AIM is a risk blah blah, but it’s a tough pill to swallow regardless.

Onto Prem - yesterday was a whirlwind. Very disappointed CEO didn’t RNS within 30mins of letter. I wonder how many of his mates he managed to get out. I’m also convinced FM was the mail in the coffin for Canmax, and whilst I don’t agree with it, I can see GR is playing any card he has.

Short term finance and stripping back unnecessary operations is priority alongside new offtaker. I would also stop all discussions with Canmax to heap further pressure on them. Going to be a volatile day. The joys of holding Prem eh. Good luck all

J

Let’s say Prem need to pay back within 90days as FM is concluded as BS…. What could they pull on/sell?

Zim owes them $20m, Li3 50% stake, vortex? And to what value could they get to derisk a financiers investment by putting some money towards to $34m?

J

RNS @ 5pm..... disgrace. Letting his mates out first.... again.

J

IF Prem have received the letter..... I absolutely guarantee you that GR is buying shares right now AND telling his inner circle to do the same. He knows he is about to be ousted. He needs to votes to deflect a lowballer offer..... oh yeh, and he's greedy.

J

If nothing else, GR should update market that they have OR have not received letter due to SP volatility.

J