Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
PREM has also just borrowed $290,000 at 10% interest rate lol and will take 320 million shares if they default. It sounds like they are asking for a placing now and PJ has the nerve to question SRES funding. The guy is fake news.
Stop lying PJ
Yes I did check your other share (PREM) which has over 11 billion shares, 11 billion and he criticises SRES dilution ffs
No 1 trader lol. on the 19th May he predicted PREM will go up to .13, it's gone down and is now .102 pmsl
This is a post taken from PREM today.
Here is my current view of the world.
MNH. On Saturday's call GR said they are currently doing 4 shipments per month @ 1400t per shipment = 5600 tonnes. Increasing this to hit 10,000 tonnes, which many had led us to believe was already being achieved, is not a walk in the park. If it was easy to do this they would already be doing this, let alone the 40,000t per month some on here are using as the basis for valuations. I have severe reservations over the Bara report's valuation of plant and machinery at $22m when the latest set of unaudited accounts have stated assets at less than $2m. It also doesn't fill me with joy that others have tried mining Otjozundu before and have failed.
RHA. GR said they are ready to start processing 28,000t of tailings which would take 5 months, so approx 5,5000t per month. Then he said he wants to get mining underground where they could hit 6,000t per month. I really struggle to see how they can deliver greater throughput from underground operations than processing tailings on the surface. RHA will need a few more $m to get underground. People saying this will be funded through an offtake agreement are wrong. No offtaker would put that much cash forward to a company with a track record of failure like PREM. I fully believe the minor works being undertaken at RHA by PREM are to keep ZimGov happy while EPO is being processed and only for that the mine would be mothballed as it is a money pit which have swallowed $20m to date.
Circum. Potash prices have experienced quite a drop over the past few 12 months. Do I think Circum will IPO? Probably. Do I think it will be in the next few months? No. Do I think is so desperate he is trying to use better communications from Circum as the carrot to dangle in front of shareholders at the moment because he doesn't have anything else? Absolutely. Do I think PREM will distribute a percentage of Circum income as a dividend? Absolutely not, especially when PREM needs to raise its own funds for DFS at Zulu etc.
Zulu EPO. This is the saving grace and I fully believe the EPO will come through in time. However that then raises the bigger question about how to fund approx $5m for a DFS. Perhaps there will be a partner on board by then to help with this.
AIMHO, Bickmaster.
PJ thinks PREM is the bees knees, does this sound like PJ is a person that should be listened to?
PJ why don't you email PC your questions? You ignore anyone that tries to educate you and keep pushing the same rubbish increasing the cost more and more every time u post.
Note: not intended to rubbish PREM just PJ
I'm hoping to avoid another placing too Dubs. You know my feelings on them. Just trying to make an unbiased opinion and put it out for others to comment on. Yes, good point with the upfront capital Fulmar.
As regards to £2-3 million PC estimates for building the mine in the podcast Dubliner posted.
I'd say maybe a £500k fund raise to get it started, £1 million bank loan and the rest made up from sales of pozz. Any other thoughts on that?
Turnover
27-year mine plan includes four-phase pit design targeting production of:
• 14.5 million tons of pozzolan starting at rate of 100,000t per year climbing up to 500,000t per year.
• 1.3 million tons perlite starting at minimum rate of 20,000t per year climbing up to 100,000 t per year
(for 15 years).
Low strip ratios: 0.25 tons waste per ton ore in Main Zone, 0.16 in Tuff Zone, most waste mined after Year 8
Pozz
£100 x 100,000= £10m yr1
£100 x 300,000= £30m yr3
£100 x 500,000= £50m yr6
Perlite
Raw
£100 x 20,000= £2m yr1
£100 x 100,000=£10m yr2
Filter grade
£330 x 20,000= £6.6m
£330 x 100,000=£33m
To
£800 x 20,000= £16m
£800 x 100,000= £80m
No but my point is, there isn't a company with a lower capex. So if you can't invest in SRES because of the capex you can't invest in any start up company.
Hire of machinery to keep cost low and develop as we get money from pozz