Member Info for Malpenn

Value provided on Zulu currently in non-production which Canmax signed off against is $200 Million, looking at our current market cap I think things are a bit disjointed, along with the value of our other assets.

Oh well look back in a few weeks..

Zulu Lithium based on a project valuation of US$200 million.

Very odd that George didn't want to answer any questions about his £2 Million share sale to provide OPEX for Zulu.

I wonder if the reaction of share price after the new agreement RNS had put a stop to that idea and his shares were not sold..

Either selling has started or not.. or it has finished.

If finished we would get a RNS showing his reduction of holding, he isn't doing himself any favours.

Key news I believe is lab results showing SC6 is produced from Zulu..

Timescales should have always been considered as likely to slip based upon going directly into pilot plant but the market needs to know that the product is SC6 and then its just a matter of time to scale up throughout and output.

I think AIM you have even managed to over step your stupidity and misguided boundaries.... He was very clear days ago that there would be a "Sting in the tail" for PREM holders, so his views then and now have been very honest and open.

Just been having a quick read through his comments after todays RNS.. No offence to most on this BB but I value his professional option more than most here...

First response was "Broadly positive, with caveats"

Latest:

https://twitter.com/that_stocks_guy/status/1691433074884489216?t=QJOkEAKSljypssYdCfpRtg&s=19

Interest rate still good based upon where we would be without their initial investment to build the Zulu plant.

SDRY yesterday took on £25 Million at 10.5% PLUS Bank of England Base rate... PREM/STARK have caused CANMAX issues therefore we were always going to have some penalties but 8% in today's market is still attractive.

New chapter begin and now it's down to STARK to deliver...

Lab SC6 grades and new delivery schedule should be released fairly soon, which should provide support to the SP.

Its the product grade I want to see within an RNS

No interest can be applied during FM I understand.

Makes sense because effectively the contract is frozen/paused at the time it's called.

Canmax contract with Ford from Jan 2025... Even if we shifted to early 2024 for full production we still provide Canmax with the resources they MUST have to fullfil their contract with FORD

Get the product from Zulu to SC6 then I can't see any reason how Canmax would not sign a new deal with PREM.

https://www.yicaiglobal.com/news/ford-picks-china-canmax-for-three-years-of-battery-material-supply

Acker I believe as Canmax are NO longer funding OPEX.. this would make perfect sense if they were only retaining 50%.

If they were funding OPEX and therefore George didn't need to loan 2 Million I would expect Canmax to be taking more..

I would only fund 100% of Zulu OPEX if I was getting 100% of offtake.. Why would I fund for another partner to receive 50%.....

Lab findings of SC6 was the game changer for CANMAX negotiations... certainly expect the detail to be included.

Timescales could be flexible but poor product was NOT but I honest believe with the solution that Optimum Sorting have created for mining with their sorters are game changing.

I bet they will no longer be using the EDS mill in their new solutions...🤔

Stark will win some big projects on the back of their learnings and experiences from Zulu and are already marketing the solution with Optimum Sorting and PESCO.

https://www.linkedin.com/posts/eleanore-forner_in-the-battery-materials-industry-sigma-activity-7096725853111222273-SBVT?utm_source=share&utm_medium=member_android

We will see in the updated RNS that SC6 has been proved at the lab, this would have been a condition from CANMAX to renegotiate.

We know what was in the bags previously was poor grade and likely that CANMAX lost confidence with PREM/STARK at this point... Timescale delays are acceptable but poor product is NOT.

Looking back to the 26th of June... the BoD rejected the following. I would think that neither of these two conditions will be part of the new agreement. Therefore we will retain 50% of the output to sell to another customer/partner.

We will be out of FM and GR could approach any of the current interested partners for the other 50%. This to me is very realistic because CANMAX will NO longer provide additional funding the Zulu OPEX and therefore shift to PREM to fund and sell the remaining 50% at market rates.

The market will very much like this, if correct. We reduce CANMAX prepayment at new pricing levels ( probably reduced for CANMAX) but retain rights to sell remaining 50% outside of CANMAX deal.

no amendment has been signed to date, nor will an amendment containing certain of the terms now currently proposed by Canmax, be acceptable to Premier. In particular, Canmax's proposal received on 23 June 2023 includes:

·

The effective conversion of the Pre-Payment Amount into either (i) a convertible debt instrument in the event that Zulu is unable to meet its delivery obligations under the amended Agreement, with no floor to the conversion price or (ii) a proportionate amount of the equity of Zulu; and

·

The sale to Canmax of all concentrate produced at Zulu, not only that from the Pilot Plant, at fixed prices with limited ability for Premier to accommodate cost variations.

Watch the recording of Saturdays meeting yesterday and was interesting to note that only the pricing structure and delivery schedule has changed...

I am hoping that we still retain the 50% of output to sell to another customer/partner.

Especially as a Canmax representative attended on Saturday so hopefully the two point changes are the only ones..

That in my view would be an extremely good outcome and increase our short term revenue from production in mid September.

The voting results had to be formally announced this morning and a deal was signed on Friday night so that could also be announced first thing.

The detail will follow.. along with additional information.

Aim... I think you are forgetting the role of the NOMAD.

They will need to validate each section and statement... If a comprehensive RNS is to be released then I am expecting it could be tomorrow.

Our NOMAD had to review the recent interviews with Stockbox and this caused a delay of a day or so.. normal practice.

No red flag.

Or what rewards GP has incentivised Stark with... he did say that if Stark achieved over estimated throughputs then he would reward.

It's in everyones interest now for Stark to be successful.. I wonder if an offering of some of our newly passed shares could be offered to Stark for smashing the current throughput levels.

It would certainly keep them focused and support their financial position...

Hi Dazed,

Just open a Live chat during working hours and say you want to vote, they will ask you how you want to vote and do it all for you

Very easy.

I think he certainly knows what he is talking about....

https://www.linkedin.com/feed/update/urn:li:ugcPost:7093240947886440448?commentUrn=urn%3Ali%3Acomment%3A%28ugcPost%3A7093240947886440448%2C7093247106500435969%29