Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Why would prem go bust and why is the potential raise or financing a surprise? Worst case prem can fire sell the asset, which they don’t need to do. There are some significant holders, some institutional holdings. GR is a mess, got us this far and has created one of the most followed companies on aim.
Now he delivers this time or he goes. If it doesn’t work out, I’m sure the telegram holders have enough holders for a egm to push a vote of no confidence. GR goes, Zulu sold, share buy backs, reinvestment, on they go.
Bust does not need to be an option.
Raaydaar, you are also missing a fundamental point, at some point it will be financially not viable for Goddard to sell their shares if the fall continues. So they will stop at some point, where is that price point though....? Sell half all the way down to .10 and then wait for operations to commence, selling the rest at .4/.7 the truth is, nobody knows, so assuming is probably the wrong thing to do.
If you believe in the asset at bare minimum, it is worth holding, even GR cannot stop a buyout if he screws up operations again.
It depends, even Goddard will have a point of where it isn't viable to sell. I am kind of glad they are taking payment in shares as they have a vested interest in success. This is why there is a lock in period. They have direct access to market sensitive information.
Pay the bills and then hold for gold, or in this case spod. If there is good news on the horizon I would hope that they would hold back on selling for a bit, this would then compound any rise as the volume in the lower levels would dry up and give us a little rally, this will then encourage the investors watching from the side to jump in, compounding any further rise. There will be some serious volatility in the next week or two IMO
These ones from 11 December:
The Board of Premier African Minerals Limited ("Premier" or the "Company") is pleased to announce a subscription today to raise £2.4 million before expenses at an issue price of 0.23 pence per new ordinary share for the Zulu Lithium and Tantalum Project ("Zulu").
The Company is on track to target revenue generating production by February 2024 following the installation of the 55 tons per hour ball mill and other associated structures which is expected to be completed by late January/early February 2024.
In addition, the Company has today conditionally settled payment of US$2.5 million (equivalent to £2 million) in invoices through the issue of 769,230,769 new ordinary shares of the Company to Zulu open pit mining contractor, JR Goddard Contracting (Pvt) Ltd, issued at a price of 0.26 pence per new ordinary share.
They were subject to a 20 day lock in which I would’ve imagined ended last week.