Member Info for Jenkoo

As i said, Prem calling Force Majeure is total balls. A bad bearing is nothing of the sorts.

J

1 Canmanx pull out of deal

2 Cause SP to tank

3 Hoover up shares lowball to increase holding and voting power

4 Lowball offer

5 Use excess votes to approve

OR

Prem get a new deal in time and GR has been talking to others for some time (we know hes a liar)

J

Dont know what to say..... sorry to all of the LTH's here. We are in trouble and STARK are the root cause to this. They should be ashamed of themselves.

J

If no deal:

PREM - Source funding from elsewhere for their indemand product.

CANMAX - Lose out on further SC6 in both the short and long term. Don't forget, they would also rule themselves out of Li3 project dur to the bad relationship. Lets also not forget they just found out another of their new partners have hit a major delays AND they are losing their big 3 suppliers AND they just signed a deal with Ford.

Agree - Advantage Prem.... Although it wont be an easy ride.

J

GR will not want to share the accounts because it will show Canmax how weak our financial situation is and how long we have left before we need to announce dilution.

J

Acker - are you aware of any information or inclinations around the SC percentage? I’m really shocked we have not been informed a yet. Potentially the Stark interview will give us an insight.

J

Watcher - A latent defect allows a client to claim repairs, replacement, and/or development of a part that has failed within the latent period from a supplier.

Fundamentally different to FM.

One is bad design/installation/setup. One is and extremely unforeseeable event.

Anywho, enjoy your evenings. Said my two penneth. 😉

J

I’m not arguing Canmax want too much from Prem. I’m also not arguing that GR is trying to protect Prem.

I’m simply stating he is desperate and his claim for FM is wrong.

I know what FM is and how it is supposed to be used. I’d advise you take off the rose tinted glasses and do some research. Good luck with your investment. Truely.

Il leave it there

J

Incorrect because of the court agrees it’s not Force Majoure the original contract remains.

J

Gazza, motors, bearings and shafts are my bread and butter. Moisture and grit getting into a bearing is not FM. Is p*ss poor design just like a lot of the plant.

Typical Force Majeure events include natural causes (fire, storms, floods), governmental or societal actions (war, invasion, civil unrest, labor strikes), infrastructure failures (transportation, energy)

Not moisture and grit in bearings. It’s ridiculous. Don’t trust me, but do do your research, you’l see I’m right.

J

GR has proven this last year he is a man that can both drive and destroy Prem.

In my opinion GR’s decision to call force majeure is both desperate and incorrect. It won’t hold up in court but will buy him some time whilst Canmax challenge it.

How a man can claim he didn’t expect major issues with a new type of mill is beyond me. One does not purchase new pioneering technology without accepting risk. For this reason I believe GR’s FM call is bullsh*t. If I was a court I’d throw it straight out. If I was Canmax I would hand in that notice regardless of the FM and hope the court backdates 90days from letter. (Assuming they want to put the notice in which I don’t)

GR is looking more and more like a crook who is o lay in it to benefit himself.

I haven’t sold a bean, but I’m very close to selling the lot and moving on.

Been in Prem so many years…. And maybe this is the toughest hurdle LTH’s need to get through, but I can see how Prem could turn this around. I was wishing for the votes to go against GR today. I think the SP would have done +20% on that news alone.

Very frustrated. Il give it 2 more weeks to sort with Canmax or I’m out. To many failures to deliver a single bag of SC6.

J

Watcher - For me the deal with Canmax is hanging by a thread. Canmax don't have Prem over a barrel as they dont have any securities and this is exactly what they want in the new contract, so well done to GR for not letting them.

Time and funding are the big things at play. GR will likely raise the full 4bn shares and that means any new offtaker would not need to stump up the (miniscule) $34m, which would therefore decrease risk and increase chances of a deal within 90 days.

im cheesed off.... i know that!

J

With the exception of June the Stark production projections included in the announcement dated 25 May 2023 remain achievable.

We are still talking multimillions here. Sure its a terrible RNS, but all is not lost. Anyone talking about this dropping to .2 or .3 is talking it down.

Also, Bigborris is right. GR is playing hardball and knows what he holds long term. Im glad he is sticking up for shareholders and fighting to keep a strong deal. The FM on the otherhand is questionable, but i can see why he wants to call it. So much to digest in this.

J

If this is not a statement purely for Canmax to sleep on, i don't know what is.

'nor will an amendment containing certain of the terms now currently proposed by Canmax, be acceptable to Premier.'

J

That’s Joey filtered.

Wonder if we get a nice tweet today. Unlikely I know but we can hope.

J

Solicitors will be working hard to eke out every benefit they can from both ends.

Maybe GR playing hardball because he knows Canmax want SC6.

Maybe Canmax playing hardball as they feel letdown by Prem.

Likely both. Let it play out. It’s normal to go to the wire and often requires extensions.

Any extensions benefit Prem as they continue to make revenue generating SC? And the 90day clock is not ticking.

Expecting a relatively mixed bag RNS Monday.

J

Well i have not seen any major leaks so likely Monday imo. Would prefer today.

J

Interesting chart reflecting their current supply issues…

J

https://twitter.com/jenkoool/status/1671753316060000257?s=46&t=-sYSpaRy9cwxnWCOaKv6Gw

Very positive news on the China EV government stuff.

Looking forward to the next rns. Wonder if we will get grade and first delivery size/value information. Expecting a deal to be agreed and some sort of ‘cost’ to Prem.

Not been a lot to talk about here whilst we wait, although some will stir the pot regardless. Don’t lose focus, Prem will have issues during ramp up…. Then problems get solved… then large revenue drives SP north. Happy days

J

Nice to see the rise yesterday. I don’t expect news until later in the week. At this stage I expect 90-95% to be agreed and both sides scrapping for the last bit of benefit from the contract. GLA. All will be fine.

J