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The key here is that we are fully funded to production and have assays telling the Lithium is in there.
Between now and first production the excitement is surely going to build. The revenue projections should push the sp higher still.
All this progress is to be lauded - but I would feel much more comfortable if we had a proper governance structure in place - we have no chairman for example - and no sign we are looking for one. Institutional money is needed to push the SP along - and we may not get that they way we are. Can those who speak to GR ask him what the issue is?
Bootieone:
I agree with you. Compliance isn’t just needed for the institutions - but for ordinary investors as well.
Independent oversight is essential - and it’s a good question why GR has not got a well functioning board.
Also - why Suzhou have not demanded one?
Been very quiet here since yesterday. I guess it is just a waiting game now. As Acker said - should see a steady rise through September - the BIG buy this week was encouraging - looks like the institutions may be taking a position. I look forward to more assay results as they come through and an RUS upgrade this month.
Have a lovely weekend. If you reading this George - well done for the progress on Zulu this year!
With this money we can hire world class professionals and get this done properly. They must have had quotes and know the $35m is enough to do this.
Mine fund is always the big hurdle - with this pilot plant funded - the full plant should now get funding easily. This will be a $1bn company in a few years.
Credit to GR for having brought the company to this point. He has made mistakes - but this deal atones for them all. This deal is amazing. Raising $35m with no dilution and interest free - that’s game changing.
Suzhou must have confidence that this will do very well. Sit back and relax. The DFS I assume will continue in the background.
I think we are approaching a tipping point here.
Assay results, news of the pilot mine etc.
It’s not GR anymore so we can stop worrying about that. It’s Suzhou - with their deep pockets, vast connections and eye on global markets. They will drive this to a successful exit.
Overall, this is a positive RNS. It indicates the direction of travel. Agreements take time to iron out and sign - lawyers get involved. They may be waiting for Assay results. They wouldn’t commit to an RNS if the deal wasn’t close. Suzhou would not have let them put this out if it wasn’t close. Their reputation is also on the line. They are the single largest shareholder and could get rid of GR if they wanted so they are calling the shots now. 18000m drilled is a positive.
Daz,
You do us all a service by reminding us that there are risks everywhere and our minds have a positive bias - if we want things to happen we believe that they are going to and forget to look at the evidence. Having said that - on balance there are so many positives here - I think this is an excellent opportunity - the price of Lithium, Suzhou, money in the bank, drilling proceeding at pace, pilot mine etc.
Daz - some truth in what you say - thank-you - we can get a bit carried away here and there is a lot of P&D. Having said that I think this time its different. A solid sustained rise into close can only be a good sign. If the pilot mine deal can get done with no dilution, then this will do well. Very well. Lets see. This is AIM - and risks are around every corner.
All of us need to be patient as PREM develops it’s plans for the mini mine, costs them accurately, and negotiates funding on the best terms - anyone involved in mining will tell us this takes time. An update on Assay results and any other info would be valuable in the interim.