Member Info for Malpenn

This time yesterday our darling trolls were telling us we were heading towards 0.0020p per share or that it was game over.

Strange that they aren't repeating the same message this morning..

I declare today a "No troll" day 😉

George had previously provided a director loan to PREM, so very pleased he has repeated this.

Shows great confidence in the Zulu project that our CEO is providing the short term backing he said in the recent interview.

I would therefore believe the other aspects of the interview in terms of additional interested parties to replace Canmax.

George is going to win alot of votes with his director loan and also secure our short term finances.

Without doubt he believes in Zulu and shortly we will be in production of SC6.

Canmax still own 13.14% of Prem.. they haven't sold any shares.

There are several short term updates that will significantly boost the SP and therefore increased the value of Prem.

SC6 production will formally be announced.

GR is likely to provide short term finances to PREM

If shareholder are required to fund the buy out of Canmax then we own a valuable asset, that is in production and providing a very much in demand resource.

Canmax have absolutely grown tired of Prem/Stack but with their 13.14% holding and the outstanding prepayment cash balances they are very unlikely to be taking the approach of destroying Prem, they want their cash back and we will have opportunities to replacement Canmax.

Open the following link:

https://www.linkedin.com/posts/stark-resources_oresorting-mining-lithium-activity-7084182444437872640-9P2L?utm_source=share&utm_medium=member_android

Read the comments and look for "Kenny V", he works for Optimum Sorting.

When an engineer from Optimum sorting says he is looking forward to setup the sorters in the coming "weeks" that means his timeline is "weeks" not days..

First they are assembled, setup (including software integration), configured, tested and minor changes.

This doesn't happen all within 1 week !!!

No wonder why GR didn't seemed too worried on the latest interview and took part in the previous fund raise..

The Zulu lithium claim is generally regarded as potentially the largest undeveloped lithium-bearing pegmatite in the country.

https://www.chronicle.co.zw/zulu-lithium-projects-faces-take-stalemate/

Stark have engaged engineers from Optimum Sorting to handle the installation and setup of new equipment at Zulu.

This also means that any minor issues experiences can be immediately handled directly into the technical skills from the equipment provider.

Not sure people are expecting an update this week but certainly when you have everyone from Stark and equipment providers onsite you know they are covering all bases for success

Https://www.linkedin.com/feed/update/urn:li:ugcPost:7085238343629774848?commentUrn=urn%3Ali%3Acomment%3A%28ugcPost%3A7085238343629774848%2C7085240204046786560%29&replyUrn=urn%3Ali%3Acomment%3A%28ugcPost%3A7085238343629774848%2C7085293641828638720%29

From June RNS:

Stark's completion of plant modification and final commissioning.

Stark is acting as the design, procurement, installation, and commissioning contractor on behalf of Premier, and prior to completion of commissioning, remains as the operator the Zulu plant.

I am very pleased to see we haven't seen any communication from Canmax regarding the FM position stated by PREM this week.

The contract very clearly states the conditions it can be called..

PREM is relying on two terms in the original agreement, within section 12.1:

disruption or breakdown of storage plants, terminals, equipment, machinery, or other facilities, which are not in the ordinary course of business.

Within the Stark interview they clearly state that the EDS mill has not performed as the manufacturer (OEM) has expected, therefore this is a disruption / breakdown.

This is outside the control of Stark, PREM and Canmax, if the manufacturer of the equipment confirms within that design their equipment will function as expected but doesn't then it impacts the very nature of the plant and creates a stop. On this basis FM was called, there were some design faults but the reasons of why FM was called should be clear.

Stark have a contract for "throughput" therefore once throughput was NOT being achieved then the plant is stopped and optimisation is designed.

Delays at the border have impacted this timescale for optimisation but we are seeing good progress and work is very likely to be continuing over the weekend.

UV sorters to be added and then Stark will authorise the restart of the plant. Stark standby their plant design to output SC6 and optimisation will resolve their throughout issues.

We will reach 50% very soon and then we have a product which has a monetary value and provided revenue. If it goes to Canmax as per THEIR ecent RNS, then it reduces the prepayment and there is a benefit to PREM.

Grades and throughout will improve as a result of the optimisation this is very clear.

Very similar to what was done in June 2018:

Thoughts ??

5 June 2018

Premier African Minerals Limited

Director's Loan

Premier African Minerals Limited ("Premier" or the "Company") announces that the Company has entered into a loan ("Loan") with a company owned by a Trust of which George Roach is a beneficiary, for a gross value of US$300,000.

Terms of the Loan

The Company entered into the loan on 4 June 2018. The Loan is non-interest bearing and has a maturity of 60 days and will provide additional general working capital while the Company looks to bring finality to the negotiations currently underway in respect of both Zulu Lithium Private Limited and RHA Tungsten Private Limited. The Company will repay the entire Loan, including all fees within five days following the maturity of the Loan. The Loan carries an implementation fee of US$15,000 (5%) and a redemption fee of US$15,000 (5%), collectively the fees ("Fees"). The terms and conditions of the Loan contains a negative pledge provision in respect of the Company relating to certain types of indebtedness and standard events of default. The Loan is not convertible, nor does it include share-based repayment or warrants.

The Company has agreed not to draw down against any equity or equity linked financing facilities, until such time as the Loan has been repaid. The Loan is secured against the Company's shareholding of 6,128,822 shares in ARC Minerals Limited ("Arc Shares") and the Company has agreed to underwrite any reasonable shortfall following the sale of the Arc shares, should this be necessary.

George said that diesel was one of the most major Opex costs to Prem currently.

The plant has been shutdown while the optimisation/upgrades are being completed, therefore removing this current cost.

The plant will be startup shortly, therefore requiring funds.

George said on the interview that he will provide funds in the short term, let's say he is true to his word and the recent seller was George, he then provides a "Director Loan" to PREM ( he has done this before ).

He knows the share price will rocket upon this news, then we go into Production.

Shark confirmed the plant is 100% designed and build for SC6. George knows the input grades and that reprocessing existing bags will produce SC6.

Once all done and Canmax can see production and final output grades, are they really going to walk away and PREM's hand is certainly strengthened..

Game on...

No default penalities from either provider of our current debts and have been happy to provide extensions.

Along with an update on the process.

We hear AP confirm that the diamonds exist, that's one less topic of rubbish we are going to hear from the derampers..

https://total-market-solutions.com/2023/07/vast-resources-plc-july-2023/

Interesting 🧐

If Canmax sold any shares then their % of the off-take would drop.

If you read THEIR RNS they stated they would retain their shares in PREM to consume their off-take.

Time for another guess from the derampers....

Acker, I listened and very much liked 🙂

Have a great weekend

No placing for us shareholders...

Will we finally here from Stark that their expected grade is SC6

Cant wait for the interview and George if you fancy throwing in that you will provide funding into Prem for the short term, that will make my day.

Will enjoy them greatly, especially if the STARK interview contains any information that was leaked yesterday

Stuff you PUMA