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Bit of a mixed bag RNS this morning. The bullet points make for great reading. Then GR has his say which quickly diminishes any flurry of optimism.

Electrification of RHA is pretty much essential if they ever want to produce profitably. Running on diesel generators costs a fortune so getting ZESA involved immediately is great news. They may even throw in $20m dollars (US or RTGS?!) of 'free' power when RHAs connected!

There's obviously enough funding available for repairs and commissioning & ordering of plant which again is great news. With works recommencing at RHA it would not be unrealistic to look at getting the asset unimpaired.

Not so sure RHA being a priority project will have any impact, but at least PREM are meeting regularly with NIEEF and progress is being made however slow.

Then its onto GRs commentary. He is wrong in stating the funding situation is misunderstood. It is not understood at all. Full Stop. There is nothing to misunderstand because even he doesn't know what effects the switch to RTGS will have. That being said, funds have already been used to wipe out RHA debt and the 30% increased Zesa quote is hard evidence that the RTGS to dollar conversion numbers kicking around can be ignored (at least for local/state-owned transactions?).

Of course funds provided to date are not enough - the initial request/agreement was for $6mil USD and we've only been given $6mil RTGS. GR has stated previously NIEEF were legally obliged to pay the $6mil USD so not sure why he made this comment - I sense a little backtracking here.

Delaying the decline shaft deserves more than a single sentence thrown in at the bottom of a paragraph. Bull case - electrification and the need to return to production sooner means we can produce profitably without an immediate need for the decline shaft. Bear case - not enough funds.

Closing remarks in the RNS reaffirm NIEEFs commitment to funding/progressing RHA. Proof will be in the pudding. Is it a well-timed RNS to push through resolutions at the upcoming AGM or is this a line being drawn in the sand and the start of a long-awaited recovery? The jury is out.

So with 3 outcomes... not binary at all? :)

First positive announcement in a long time. Couldn't have wished for much more there. A proven experienced hand on board to lead operations in Mike Wells. Tidswell given a back seat for overseeing the worst performance in ANGS history. And to top it all off a £2.5m cash injection to get things moving at Saltfleetby and alleviate any cash concerns. Hopefully this is the start of a return to some sort of sane mcap.

I can feel it in my bones...one of these years LC is going to drop "PPA signed" RNS.

Great find entoman thanks for sharing.

Alchemyex i'm afraid you are wrong. RHA has been in production. More than once. Some basic research would tell you that.

With regard to the failed KDNC deal check out timings of a recent sizeable KDNC transaction - likely explains why they dropped Zulu in preference for a much larger transaction.

An EPO for Zulu has absolutely nothing to do with PREM shares in issue or the current SP, not sure what relevance that point has.

Would be interested to hear why Circum is a "joke". Asset looks world class, economics look favourable, outlook for potash prices looks good for 19 onwards.

At least we can agree on the dilution part, plenty more of that :) Have a good wknd.

NIEEF legally bound to fund US$6m development costs at RHA. Ongoing currency changes in country throwing a spanner in the works but NIEEF have paid initial $6mil Zim to RHA and committed to assisting with funding RHA back into production even if a shortfall exists due to Zim currency changes. Ongoing meetings between GR and NIEEF to facilitate future payments.

PREM pressing Minister of Mines for EPO at Zulu. This opens up JV discussions with partners who are aware and interested in Zulu caveat being the EPO is granted. End of month for progress here? Failed KDNC deal provides rough valuation and likely percentage retention for PREM in the event of a successful JV.

Circum liquidity event looks to finally be on by year end 19 which could potentially lead to an ~£10m cash windfall for PREM assuming all shares are sold.

Further dilution in order to strengthen the board with the arrival of Neil Herbert and Peter Cunningham. Negligible returns on loan to MNH but should (GRs words not mine) pave the way for a "closer relationship" between PREM and MNH in future.
The question for investors is - is the dilution worth it to strengthen the board. Answer? Likely or else we keep on going down the path we have done for the past few years.

As always, reluctantly holding and praying.

Been keeping tabs on this one as I expect it'll go much higher as the company continue to deliver. Don't like the sound of the social unrest although it looks like it has had a somewhat minimal disruptive effect on PTAL to date.

It's Zuniga's closing remark that puts me off... "though we cannot guarantee Bretaña will not eventually be shut as a consequence of their demands, we would expect this would be for a relatively short period of time." Any pause in production should provide a lucrative entry here... let's see how it plays out. GL to current holders.

All kicking off at at Heron great stuff. Volume looking good again this morning pushing us into the 9s

Punching in the highest daily close since Q3 2018! All's looking good here, we've done 3p to the 30's before let's see it again MATD!

Where's Lucan with his improved shareholder comms to tell us what the hell is going on with this farce of a company?!

Where's Tidswells tweets telling us he's confident he'll get Brockham flowing. Simple fix. Not rocket science.

Shower of crooks.

I thought this might've went a fair bit higher this morning but slow and steady wins the race...

Phenomenal announcement with RBD front of the line for getting the news out there. DB over at UJO is trying to keep grounded with the news but S+S seem happy to call it what it hopefully is - one of if not THE biggest onshore discovery the UK has ever seen.

I think it's safe to assume the NPV numbers will be bumped up. Upcoming testing should help us better understand the gas/liquids ratio in the Kirkham Abbey formation - commercial oil here and it's yet another sweetener on top of the saturated cores from the Cadeby formation. I would've been delighted with just the gas contingent alone, but the potential for gas + oil plus the deeper oil is truly outstanding.

Looks like Rathlin will need to raise funds, possibly even before the testing phase. Wouldn't be at all surprised to see RBD take an even bigger slice of the action here.

Huge news, huge asset and in all likelihood too big for Rathlin/UJO/RBD. Prove it up a little further and I would expect a bigger player to come in and take this off our hands. RBD business model proven. Huge cash windfall. Onto the next one.

I'd expect to see this in mainstream news from today onwards which will only help our case. Hoping for a steady re-rate to better reflect the underlying value WN is presenting. Just in case that isn't enough, we've still got news from Cali to come which should give us another shot in the arm.

It's starting to feel like the groundwork put in over the past few years is starting to pay off and RBD can move onto the next level with access to greater funding and therefore greater potential and bigger targets. Happy to sit on this one and see how things play out - one of AIMs better investments.

Who would've thought it. The company advised Stage 2 works would commence on 17th June and low and behold Brockham is a hive of activity this morning with deliveries of testing equipment to site.

Ignore the doom-mongers and bedwetters... SP is on its arse and it's time to finally get this thing flowing. Interesting July coming up GL all holders

Well done to all holders here. Monumental news this morning still cant believe the oil is likely a success on top of all that gas.

This has true multibagging potential and deserves to move a lot higher. Remember to lock in some profits and enjoy your success.

The link to the actual Circum announcement:

https://www.premierafricanminerals.com/component/rsfiles/download?path=Documents%252FJune%2B2019%2B-%2BCircum%2BShareholders%2BLetter.pdf

Perfect gap fill on the daily chart, if we find support at current levels then next target is the gap at mid 11's. Anticipation of first spud early July will hopefully see renewed interest and higher volumes once more.

Trading nicely within a steep upwards channel in anticipation of imminent + overdue newsflow.

Daily MA200 acting as support, got to break the horizontal resistance at .8p. Through that and its time to hunt down the elusive 1p and previous daily highs.

VG-4 unrestricted flows, 2 MS wells online and WN update are all catalysts to get her on her way.

"A decent rise off the back of todays update see's us break above the daily MA200 for the first time since July 18! There's also an imminent golden cross (MA50 > MA200) on the daily. If the MA200 is confirmed as support then we should be in for some prolonged share price appreciation - obvious targets horizontal resistance at mid 6's and then onto the gap fill in the 7's."My last Matd post from Tuesday aged well. Welcome to the gap fill.

An interm CEO from current BOD god no!! Haven't you learned anything Smile?

Here's what Michael Foster, then Senior NED, said last year when given the Chairmanship:

"I am delighted to have been appointed as Chairman of Premier. My focus will be on strategic governance, improving all aspects of board oversight and assisting management meet targets and advance the Zulu Lithium Project as well the RHA tungsten mine in Zimbabwe.

George Roach has assembled an excellent portfolio of assets over the years and I believe that with the right approach and partners significant value can be unlocked in the immediate future".

So Michael, 1 year later how have you done in assisting management to meet targets? How have you advanced Zulu? How have you advanced RHA? Where's this significant value that was there to be realized in the "immediate future"?

Very interesting read ted. Somebody has done well to secure a funding package that size!

Unfortunately for us we are far too early in the asset lifecycle thanks to zero progression at Zulu over the past 18 months. Still no way forward for Zulu and at least a year to get current asset to DFS stage. Complete failure on PREM BoD's part and a missed opportunity if ever there was one.