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Smile, no I don't think GR was playing any game.

I think he made an inexplicable decision to haemorrhage large amounts of shareholder money that should've been put towards RHA and Zulu on buying up illiquid shares in Circum, likely based on a tip or as a favour for his old muckers Dattels et al.

As I've said, this decision making set PREM back years and STILL he thinks buying up more cash-starved assets is the answer. I find it hard to believe someone could be so naive to truly believe that would be a good idea, therefore I can only assume he is making a pretty penny from salary, consultancy fees, loan interest etc etc.

I can understand your attempts to bring some positivity back to this board but if the man at the top is still stupid enough to even contemplate the likes of the HBR acquisition at this point in PREMs lifetime then there is little hope here for the future until changes at the top are made. How far out of touch with his investor base must he be if he thought there would be appetite to go after another asset whilst PREM struggles to survive on a day to day basis?

Compared to many, many other companies on AIM this is a poor investment in its current form. Sure, there may be an asset with serious potential but that is only 1 of a long list of things to consider when making an investment. If PREM do receive a $6mil injection from the Zim Gov and an event at Circum does eventually happen, I'd still be terrified of GRs next steps as he has proven to be a complete liability with his decision making over the past X years.

Potash price crash, political instability, boardroom differences, no funding..... i.e a bad investment.

PREM will be nowhere near Circum if/when it goes into production so there is no point looking at what it COULD be worth. We need a liquidity event now so what is it worth NOW. Certainly not $2bil.

Based on what GR said in the last shareholder webinar it sounds like PREM will be lucky to get their money back from the Circum investment.

The Circum BoD is split on the future direction of the project hence here we are in 2019 and still awaiting the "imminent" liquidity event. It's getting to the point where the project has been stalled for so long that something HAS to happen otherwise major holders will walk away/force action.

Cashing in for $1.5-$3 per Circum share is what was discussed. It was GRs decision to go on the Circum-buying crusade and this has set back PREM at least 2 years as well as cost shareholders an absolute fortune through endless dilution. PREM has still not recovered from this woeful decision-making as the share price is in the gutter and the company is at the mercy of the Zim Gov as has been seen over the last 1 year plus.

A fortunate turn in events would see the Zim Gov inject $6mil into RHA but even this is now starting to drag with radio silence for the best part of a month. PREMs survival, outwith further dilution, hinges on an out-of-the-blue transaction with the Zim Gov (which GR has no control over w.r.t. timings) or a liquidity event at Circum (again, GR has no control over timings) that has been in the making for 2 plus years.

Inexcusable.

The worm has turned

Looks like some brave soul has pumped this years ISA allowance into PREM. Yikes.

@jag - Match or exceed highest price paid by the offeror not the highest the SP has been in the past year.

First time I've seen PW referred to as Squelchy, love it! Mr Squelchy does seem to be getting a bit of a reputation for missing deadlines.

Chart looks horrible now, can see an SP starting with 2 shortly. Mega-undervalued here but AIm is often sentiment-driven and Squelchy is putting out all the wrong messages at the mo. Waiting on the sidelines for now.

Thanks for sharing Chris we could be in for a good week here. Parta update this morning, initial flows from Cali can't be far off and it now looks like West Newton will be spudding imminently. There's plenty catalysts there, hopefully the move back to 1p will be steep and swift

Here we go then, second attempt at the first gap fill. OGA approvals received bang on time last Friday, rig up at Brockham this week. Plenty newsflow should see better volumes and in turn fill the gap to mid 6s.

Big money moving in now, looks like update will be next week.

Only another 400% to go to get back to square 1

Plenty going on elsewhere at the moment pushing MATD into the background. Looks like that's all about to change with Heron-1 spudding in May according to latest presentation.

SP already bagged from Dec 18 lows, still a bag to go from here to get back to pre-drill 18 levels. Nice big gap to fill in 7s. Price action tightening, looking for a break above MA200 with a 50/200 golden cross incoming.

Decent money to be made here even pre-spud but I'll be holding for Heron-1 result at a minimum. Totally different drill for MATD this time round, high CoS appraisal right next door to a prolific producer - looks like its finally time for MATD to deliver.

Mills is that based on fact? Cheers

Probably due to the huge purchase at .09p

I also see it as a hint at reclaiming costs to date... "analysing our revenue streams for the PAST TEN YEARS..."

Testing the daily MA200 support once again. Great place to bounce from, just need JW to drop some news bombs right about now!

Lovely down day to pick up some shares in the .8s again. Several heavy hitting news items now due/overdue so expecting a wide-ranging update this week pulling all the strands together. Can't see sub 1p post newsflow.

Another great result this morning but usual market reaction.

S&S need to get these wells tested and get some meaningful flow rates and financials released to market. Its all very good and well doing podcast after podcast repeating the same flavorsome dialogue but they need to start demonstrating clear numbers and profit from Cali. Do this and we'll get a BLOE reaction here.

Fantastic flow rates from 16a this morning. PH gave fair warning that the 325bopd target would be beaten but 1100bopd is epic.

Over to 38 next for a repeat performance. This result will put Norio on the backburner, focus on WR as there are another 3 or 4 candidate wells perfect for similar sidetracking operations on top of 16a and 38.

With FCF pouring in BLOE can target the giant gas resources which offer another step change in value here. Easy hold for 2019.

If it's good enough for RR it's good enough for me!

rxdav, I said at the time of the share fiasco he should've went but alas he is still in control. Lets hope he gets it right second time around.