Member Info for Laverda

Dazed as long as some lithium is in those bags and a deal is signed, everyone can relax slightly.

Until that happens in truth it could all fold. There is no back stop, there are no assets of significant value.

I am overjoyed that Jag, Dazed and Wolf are fully committed with their cash here.

Well done and good luck.

Dazed, you and wolf continue to promote another share Kodal on this site.

You are hoping people click on it when bailing out from here.

We know your plot.

Good man - you know your stuff. Enjoy.

Wolf sunk all of your profits into here?

Wolf, you keep promoting Kodal on this site.

This is a Prem board.

People can see through your plot.

Acker, Prem ran out of cash and did not produce lithium, none, not just a little short of the target in the contract.

Prem needs a rescue package from Canmax - or somewhere else.

In that context listen to the two interviews again and look at the date of the EGM which has been labelled a AGM.

While everything is not completely dead in the water yet, it is not looking great and only days from the deadline and that is most definitely a deadline.

Redandy, I agree.

When George said Zulu was not collateral, he said it was owned by a different company, where he was going with that, like a car deposit was not a good area for a CEO to go.

Shareholders own Prem and ultimately Zulu. If Prem can't pay Canmax the liability and interest they will go into administration. Anything Prem owns would be used to repay creditors anything left to shareholders.

He gave the impression that shareholders did not own Zulu only a share of the output.

Raydaar, I also do not believe that they stacked 200 bags before testing, they will have tested output from the plant on a regular basis, none of those results have been published.

This is peculiar to say the least, George is an odd guy.

Red trade, cash while waiting is the issue and not knowing means the plant continues to churn out what?

Unfortunately to date none of that has been reported to be contained in the 200 bags from Zulu, hopefully there will be an RNS soon, to give the CEO at least something to bargain with.

Acker, Prem CEO is negotiating a rescue package, all is definitely not well.

He is negotiating a deal on a lithium mine which has to date not produced a nut of lithium (Spod), it is a weak position to negotiate from.

There are less than two weeks to sign a deal and Prem has no cash in the bank.

They cannot repay the Canmax liability and interest.

PS, it doesn't mention prepayment at the mine gate or some of the other detail George mentioned.

Watcher, I just realised part of what you have typed, there has been an interview with George in which he says they may have Canmax's continued support in a new deal, but where is the RNS?

Danners, that is critical to getting the deal that George, CEO of Prem, was talking about.

To have some cash flow so Prem can continue, George wants Canmax to pay for the material as it leaves the mine.

Canmax may go with that deal to support Prem, but they will want assurance that they are not purchasing bags of earth and not Spod.

We are still waiting for the RNS.

It is of concern if the AGM, or extraordinary general meeting is before this is known, as anything could occur in the meeting.

If there is nothing in those dumpy bags can they continue?

I suppose under the circumstances it was never going to be a good interview with a CEO trying to negotiate a rescue package, but there was nothing in it to be happy about..

https://m.youtube.com/watch?v=cmNetdLdE0s&feature=youtu.be

Assuming there is lithium on the small claims area, and everybody assumes there is, because a fortune has been spent on this tiny claim and Canmax expected as a minimum to get their investment back, this problem has been created by using new lithium separation technology instead of the proven DMS or flotation pilot plants readily available on the market.

Are the proven ones more expensive?

Is there insufficient water in this area to operate the other types of plant?

Is the energy required to drive this type of pilot plant less than the proven technology?

If so is water and power an issue on this site?

If it is, if ever they grade up to a production plant will there be a limit of size due to power and water?

A lot of questions about why a firm would place their whole future on unproven in the field technology.

This appears to be Stark's first venture with this type of equipment.

Pilbera is going to install similar technology through a different company into a major production plant, but they have had to send hundreds of samples so that a plant can be constructed which has the correct type of scanners in the right order before construction. There's is because they are going to operate in a dry area.

Possibly Jenkoo, it will be an interesting time until the new contract is signed.

One thing that jumped out at me during the Prem CEO interview was that there were issues with the pilot plant and the new (to lithium) technology, he described the issue and also about altering the plant.

He also stated that they did not know, but would soon, what the 200 dumpy bags hold.

How does he know that the plant was not operating properly if he did not know what was coming out in the final processed material?

Until the results of the contents of those bags are released I can't see Canmax paying for full bags upon leaving the mine in a new contract.

I have seen poor contracts in the past and the problems they have created.

Lo and behold there will be 2,000 full bags in no time.

Jenkoo I agree with you on the third party, that would be the best option for Prem and shareholders if the existing contract allows it.

Repay the debt and interest, start a fresh deal with someone else, Preferably with 6 months overheads upfront. Then there are six months to make it work.