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Interesting views Lloyd. I certainly wouldn't be handing back the keys to RHA if, and its a big if, PREM receives a $6mil injection to have another crack of the whip, this time with a capable team and greater understanding of the asset.

I also wouldn't be holding onto Circum for 3 years - I don't think PREM are in a position to do this. It's getting to the stage where I'd be happy with 100% of our original investment returned to us, let alone a profit. I'm guessing an IPO is the preferred route - if we can cash out profitably here we should do it in a heartbeat.

I'd then use those funds to progress Zulu, preferably still with a JV partner who are capable of taking it to DFS. Negotiating with some funds behind us rather than pleading with someone to come on board would make for a better outcome I'd imagine.

With regards to leaving Zim altogether - this is far too big a step change for PREM and I certainly won't be backing anything GR is involved in ever again. Moving onto new ventures and starting afresh is the last thing I'd want to do with the current team at the helm.

I'm basically relying on Zim Gov and Circum delivering. Zim Gov have entered into a legally binding agreement so this is not an unfair expectation. Circum has not moved in years and shareholders there are becoming restless. A liquidity event has to happen soon so, again, not unreasonable to expect some movement. These 2 catalysts and the SP appreciation they will hopefully provide may offer some a chance to claw back the losses most are currently sitting on. I'd implore anyone to take this opportunity as GR and PREM are the perfect example of all that is wrong with AIM.

Lloyd why would hitting the share cap be game over? We have done so (several) times before and this has not stopped the cap being raised and shareholders diluted further. For some strange reason there is a very liquid market in PREM shares backed by a huge retail following.

The biggest danger is more of the same resulting in a long drawn out death by a thousand cuts and an SP with more zeros to the right of the decimal point than GR has Pringle shirts.

I agree with you that his hands are entirely tied (completely his own doing). We are, as ever, at the mercy of the Zim Gov to progress RHA.

We are, as ever, in the hands of the Zim Gov granting PREM the EPO for Zulu off of which PREM will look to JV on the extended asset (god help us).

We are, as ever, at the hands of the Circum board when trying to reclaim at least the money GR pumped into Circum (it's close - it always is).

We have no other assets of meaningful value. ARCM appear to have some decent assets not reflected in their SP (as is the case with many junior resource stocks atm). Katete is worthless in its current form and will take millions to prove up.

Another example of just how poor an operator GR really is. Many months lost, no doubt many thousands of pounds lost, no progress with Zulu and back to square 1 whilst the SP lingers around all time lows. Oh what a familiar feeling.

For anyone unable to recognise the above pattern take a step back and look at all of the false promises GR has made over the last 5+ years. Whether he actually is playing us all or if he is just that useless makes no difference to shareholders. Any potential value is being diminished here and without someone capable running the show this will likely continue.

I cling on - desperately - to the hope of RHA funds landing.

Also worth noting that the BOPD figures on a per-well basis won't be as impressive when compared to an unrestricted VG-4 but the netbacks received from each MS well should be compelling. Multiply this by say 10-12 wells all producing within a relatively short period of time and cash inflow to RBD becomes very meaningful indeed.

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.

Not sure how this can be questioned - you can see the well heads!! Nodding donkeys sitting on 2 cement pads, connected to 2 well heads, 2 holes in the ground, the official company twitter telling you the donkeys are in place.

Days away from permanent production from both Burnett wells.

£15k followed by £20k.... has the fantasist Coil just joined the party?

This is all a big sideshow which many LT holders have been through before. As some have already stated - comms has never been an issue. Email GR and you will very likely received a reply.

We've seen several groups come and go here but nothing changes. Nap's group has a decent %age holding but they are too happy to accept whatever GR/Fuad spins them. It's sometimes hard to see the wood from the trees when, on paper, you are down a considerable sum.

The real problem here is PREM have delivered NOTHING of value to shareholders. GR is accountable for this and if shareholders want to effect change then they need to come together and use their voting power to force change.

Personally I see the the $6mil from Zim as a lifeline for PREM. I believe the funds will be paid despite GRs reluctance to inform shareholders as to exactly when this quantum will be received or what issue(s) are outstanding prior to payment being made.

Zulu has completely stagnated and shareholders are still none the wiser as to when/how this asset will be progressed.

Circum has made very little, if any, progress over the past 2 years and the Circum BoD are now feeling the heat from investors to get things moving. Not dissimilar to the situation at PREM. In terms of newsflow, it is a black box and completely out of GRs hands so should not be relied upon for any PREM roadmap (unless GR has been provided with a meaningful update during last weeks meetings).

The only thing that will get the SP moving here is tangible progress e.g. $6mil received for RHA, operations restarted at RHA, a deal with KME (or other drilling partner) to at least restart drilling at Zulu, a JV at Zulu to avoid further dilution to PREM shareholders, a return from of our investment in Circum. The gravy train has run for too long, it's time for GR to step up and deliver or face action in the form of an EGM. My decision will be made within the next few months and hinges on success at RHA. I know of plenty shareholders who are already at the point of calling for an EGM and I know that the PREM BoD are aware of shareholders feelings. The stage is set.

Been in SDX before and noticed the sore one for holders here today off the back of a horrible looking update but at ~£50m mcap this should make for a good recovery play. Bottom drawer job until SD online Q4. On the bright side the BoD didn't hang around in showing squelchy the door!

Well that's another week down and you might just get one very last chance to buy in the .6's next week if you're lucky. The VG-4 tie in news is now into delayed territory... I read a permitting issue may be behind this - can anyone confirm?

I've got MS flow rate results in my diary for next week, although I also had VG-4 for 10th May and still I wait. Can see a double whammy Cali update landing ASAP along with news leaking out of WN prior to official update pre-month end.

My bags are packed for a fortnight of sun in June and I fully expect RBD to be funding the pina colada's!

No worries ted not looking for an argument but instead some clarity because as usual GR has left shareholders in the lurch.

We've signed the deal, there are apparently no precursors to receiving the funds - so where are they?! It's a very simple question GR could surely answer.

Ted GR stated in proactive interview those were the 3 proposals and that the $6mil payment was not conditional on any of these at all. So where's the money?! What is it that we are waiting for?!

It can't be number 3 - NIEFF have already seen a detailed breakdown of expenditure. They didn't enter into a legally binding contract and agree to hand over $6mil without having the foggiest where their money was going.

If I was NIEFF I'd be withholding any payment until RHA had a competent board appointed considering previous failings. I'd also want to go to site and hand over a big ass cheque in front of all the local/national media outlets to show Zim is a place worth investing in. I.E. the very proposals that NIEFF have stipulated.

But GR tells us payment is not conditional on these? Pull the other 1.....

So we're giving you $6mil dollars. There are some procedural issues that are external to the contract and payment but the investment is not conditional on these at all.

You're just not getting the $6mil until 1) a new board is appointed at RHA Tungsten Pvt Ltd. 2) We've been for a site visit to RHA. 3) We've seen a breakdown on how your going to spend our money.

Agreed bob, the calm at RBD is a good thing as the herd are not here ramping it up. Yet. When a WN RNS lands make no mistake the herd will arrive and there will be RBD experts popping up all over the place telling us how big Parta is and how Cali is a cash cow.

The difference is they'll have paid in the pennies for their shares whereas we're in at the .6's. This is as easy a hold as you will get on AIM today.

A review of the last 6 months:

07/11/18 - De-merging assets, newco, KME + HBR aquisition.

05/12/18 - KME deal due diligence completed

14/02/19 - Original deal structure vastly changed, PREM agree new terms to acquire 50% of KME

26/02/19 - Zulu drilling programme announced with KME drilling partner

17/04/19 - Original deal, since restructured, now completely abandoned.

10/05/19 - GR divulges market sensitive info in a proactive interview. Zulu drilling programme is not in fact happening

15/05/19 - GR forced into releasing RNS clarifying the RNS of 26th Feb. PREM have not even finalised a deal with KME yet they have already issued over 200mil shares to market, albiet still maintain control over these. No drilling has occurred despite official guidance of 26th Feb suggesting mobilisation occurred "immediately".

The above events, spanning only the past 6 months, seem to reflect PREMs modus operandi. Similar (non)events for different deals have plagued this company for the previous 4 or 5 years. Progress, if any, is criminally slow and all the while existing shareholders are diluted time and time again.

A leopard doesn't change its spots. If RHA and Circum funds land it is imperative shareholders do all in their power to reign in GRs appalling track record of dire decision making.

Has the nomad applied pressure to release an RNS for market sensitive information that was already divulged days ago?

Is GR the absolute king at killing any potential rise in sentiment?

Are operations at Zulu stalled for another unknown number of months?

http://unionjackoil.com/wp-content/uploads/2018/10/UJ_RathlinOpportunityPres_Oct2018.pdf

Looking at slide 9 of the above presentation it's no wonder big Dave was smiling like a cheshire cat. Look at the Kirkham Abbey Formation and when it is encountered. We are 1/2 way through the entire drill testing 2 targets. Hello gas.

I had a laugh watching this last night. Poor David over at UJO seemed desperate not to give too much away but overall he seems very confident of a success case for the gas at WN.

We're just shy of half way through the estimated timeline to complete the drill (both targets). We could be days away from de-risking gas worth over double our current MCAP. Get the champers in the fridge!

Smile I have no interest in labelling people as rampers or bashers or traders or whatever. It's schoolboy stuff. I'm here to discuss my investment in PREM. I value comment from those like Moljen who is often correct. I value your views when they are based on PREM and not trying to label people or police this board. I value Nap's commentary when his head is not in the clouds and he posts realistically. Tedobys numbers make for an interesting read if nothing else.

Bottom line is the majority of posters on here, myself included, are under water and I want to see PREM prosper for obvious reasons. We have been thrown a lifeline at RHA and Circum has to move at some point. When this happens we need to ensure GR doesn't prove true to form and take us on the next 5 year mystical magic dilutive tour e.g. HBR.

Get RHA producing profitably. Use Circum funds to bring Zulu to DFS. Give away a %age of Zulu to a JV partner if necessary. Actually deliver something of value for once. And we'll not be sitting at 0.1p per share FFS.

Just catching up with this weeks developments. I was very close to contacting PREMs nomad with regards to the Zulu update of 26th Feb and the latest proactive interview with GR. How such market sensitive news can be provided in a video interview and not RNS'd is unbelievable.

The intentions of KME also seem worrying. Their concerns about the difference in current SP and the SP of the shares to be issued to them in return for drilling is telling. Best case scenario, they need to flip the shares instantly as they have no funds. If its not that then they can't have much faith in PREM or their assets if they are not happy to hold onto a wedge of shares at, in the greater scheme of things, a very low SP compared to the underlying assets.

RHA is in C&M. Zulu has been stalled for 18 months. Circum was and still is an illiquid black box that PREM should never have went near. PREM as a company are living hand to mouth on a daily basis.

If GR cannot capitalise on the lifeline the Zim Gov have provided then it's time for him to go. We are not in this situation due to bad luck. We are not in this situation due to a decline in tungsten prices. We are in this position because of the choices made by those in control of PREM.