Member Info for LockedIn

Beat me to it Garden ;)

Thought I'd provide my notes on this mornings webinar for those who may be interested.

Firstly, this was a direct line of communication with the CEO of the company and provided a great opportunity to field any and all questions. I felt GR was pretty open and all of the questions I posed were answered directly. The following was discussed:

RHA
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- Currently on C&M and will remain this way until equity situation is resolved.
- Bringing RHA back into production requires 2 things:
1) Change in law. This has now happened and the Minister of Industry and Commerce is responsible for legacy ownership issues such as ours. Our proposal has been widely accepted but still requires final sign off from the President. All being well, this will likely come after the upcoming elections (30th July).
2) Funding. As has been stated in previous and recent RNS's, there are several funding options on the table to get RHA back into production. The least favourable, and GR was strong on this, was to go back to the market. Barra consulting will be providing an updated financial model for RHA imminently which should go some way to deciding/assisting which funding/mining option is best for RHA. (I have more detailed notes on comments made on each of the options)
- Something new I learned on the call was the way in which the RHA subsidiary was set up. The RHA situation needs resolved and in the worst case scenario PREM could press to get the outstanding loan back, essentially causing the subsidiary to go bust. PREM have security over all the tenements that make up RHA so could in theory create a new subsidiary and would then be 100% owners of RHA. GR stressed this was not a preferred option and all signs point to RHA equity sign off but it does at least ensure there is “an out” if ever needed.

Zulu
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- KDNC deal has a 50 day due diligence period from the day the announcement was released.
- Progressing well, solicitors in London dealing with the investment paperwork.
- There were a number of “significant and substantial” players looking at Zulu but it was too early in the development curve for them
- KDNC deal taking Zulu through to DFS seen as best option to unlock “major” value.

Circum
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- There is no lock-in period for our Circum holding
- Cash distribution to shareholders in event of liquidity event was mentioned
- Situation in Eritrea/Ethiopia greatly improved, IPO rumours.

Corporate
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- Publication of AFS still on track for 27th July. Suspension will be lifted upon/soon after publication.
- Further strengthening of the board following MF appointment
- Executive Financial Director – GR stated he was embarrassed by the situation we are in (again)

Upcoming Newsflow
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- Barra report on RHA
- KDNC deal completion
- RHA equity resolution
- RHA funding secured

The tide is turning.

Nice one Ronin, I was just looking at that graphic on the latest Matad Presentation from June. There is a footnote below the graphic stating "If shallow turbidite concept is proven then a large (200+ MMbo) combination trap play opens ". The drill bit must be very near/at this depth right about now.

Any drillers on here? SL spudded 15 days ago, TD 3,350m. Timeframe?

before the bell. Been watching on the sidelines for a while, happy to take some at sub 10p placing. SL news soon?

Suspension will be lifted on posting of annual accounts, which PREM have stated will be no later than 27th July. So Friday latest.

PREM are in suspension due to late filing of accounts. PREM have advised accounts will be released no later than 27 July. Suspension will be lifted after these accounts have been released. So to go from circa £12m mcap to circa £95m mcap on the back of filing Annual accounts is a bit of a stretch... at least in my eyes. If RHA sign off was to land before then I'd expect to see some form of tick up but, again, we're not talking 8 bags off the back of that.

£95m mcap over time? Certainly possible with the assets we hold but its all about execution. Lets hope MF can make some better calls than GR has made over the past few years...

Pure facts?
- Show me the %age of open shorts against PREM
- Zulu deal is not in place, there is a CONDITIONAL HoT in place
- Its not RHA accounts its PREM accounts
- "Highlighted JV partner" Not even sure what that is but a JV partner on board for RHA is 1 option from several
- Talk of 1.5p and multiples of mcap on open is cloud cuckoo land
- The rest of the post is barely readable/sane.

PREM has a chance of turning things around but lets be realistic, shouting 2p tomorrow is as bad as saying the proverbial has hit the fan. Grow up.

Charlie give it a rest you are just as bad as those you seek to constantly berate. Worthless nonsensical unrealistic post.

Easy Moljen we're all friends here. I've seen enough of your postings the past few days thanks, your history doesn't interest me.

What does, however, is "significant value can be unlocked in the immediate future." Lets see if MF is a man of his word.

Interesting. I thought you'd be out of here with what money you can get come open considering you thought you had lost the lot. Best of luck on hitting your average.

Solid update from PREM which was long overdue. Finally a clear, coherent roadmap going forward.

- Multiple options for RHA which will eventually turn a profit for PREM. Game changing.
- Share cap increase will be used as required if delays continue. Lets not forget this is the Zim Gov we are dealing with. Drilling a few holes in the south of England takes an eternity so sign off will come when it comes.
- Zulu DFS ready to commence immediately. "extensive additional area of interest" around current tenements i.e. there's a lot more lithium to go after. Game changing.
- Capital to be used conservatively with any financing to be limited to cover overheads only.
- GR stepping aside as Chairman - listened and acted upon shareholder concerns

Special shout out to Moljen - you must be delighted with todays update now that you know we are coming out of suspension. It was clearly never game over but I'm sure you already knew that.

Moljen... if it was a "going concern thing" then the company could hold an EGM to raise the share cap and place shares to raise funds and in turn satisfying any going concern issues. I struggle to believe you truly think this is the end.

Very interesting. The key point is - if the article is correct - why do we need $10mil dollars????

You actually believe this isn't coming out of suspension?

A smoke screen to await RHA equity sign off resolution. Full year accounts suspension is an annual experience as a PREM holder, relaaaax ;)

No insult intended my comedic friend. Another classic there - "in for the ride". Most people invest for profit... you're in the wrong place if you're looking for a ride

That gave me a chuckle Crazy - you stating you have always been right. If you were always right you wouldn't be in this mess - you're so far underwater even your big head is fully submerged!!

This one probably goes a long way to explain the delays with RHA situation: https://bulawayo24.com/index-id-news-sc-national-byo-140483.html

On the plus side, the amendments to the Mines and Minerals Amendment Bill are with the AG and are ready to be signed in as laws "any time from now": https://bulawayo24.com/index-id-news-sc-national-byo-140518.html

Did you hear the one about KIBO getting a PPA?