Acker. That's complete guesswork, ran through the same negativity filter that all the other LTH's who sold out not realising GR had sold his shares weeks before it was announced.
You missed 2 things, firstly there were receipts in August, this month of around $2M. Secondly, production should see money coming in and products leaving BEFORE the end of November.
Before you sold most of your shares are are not out in the cold, desperately trying to push the SP down with FUD, you'd have agreed with this. It's so obvious from those who cashed out, it's embarrassing now.
"Very little cash left".
I wish I had the same access to Prem's bank statements as you do Acker.
It would be hilarious if the £1.7M is ample to take us to first shipment, as OPEX are easily going to be less than £130K a week, when the plant isn't even running ATM.
As the ship leaves the dock, we'll all wave at you, as we depart :)
Acker, as you can see these 2 placements. Can you tell us when and how much?
Maybe you can also tell us the OPEX cost of a plant not running and how much of the £1.7M cash is left?
Being honest here, Isn't is more a case that you're "hoping" for at least one placement, so like Biztech and others, who like you, turned from pro Prem a couple of weeks ago, so you can buy back in without losing out?
"Iky786
The guy has already replied to this question.
See comments under the video."
Iky was right then. So Biztech has sold shares recently and still holds "some".
I'[m going to have a wild stab in the dark and say MOST were sold. The change in agenda with some is so obvious now.
"Biztech in this new video of yours , you didn't confirm (as you always do) if you still hold prem shares???
Personally have enjoy your vids and the balance views, but I've noticed some negative vibes of late which is understandable due to GR, but with the high possibility of sp going down surely you've sold out, to then re-buy in???
Can you comment."
Ah, that makes sense now. I thought the negative vibes were a little too obvious over the last couple of videos too. Pulling GR up on saying mid September, then saying a month from 23rd August isn't mid September, was a bit lame.
It seems an awful lot sold up expecting the £2M share dump, then when the RNS came out, they realised it had already happened.
The shift in agenda from shareholder to seller is so obvious amongst a few now and they tended to be the clearest thinkers and commenters before this. It's now in the interest of many to lower the SP as much as possible with negative interpretation of RNS's and news.
With the plant not in production, OPEX will be fairly low now. Even with 50 staff on an average of say $500 a week, that's only $25,000 a week in wages. $2M will go a long way, even with diesel and other non running OPEX included.
I think a lot are praying on the SP dropping on a share placement, so they can buy back in before production starts, but people need to remember that the vote on share placing was more to show Canmax that GR had a means of paying back their $34M, to strengthen his position. We may not even need a placement yet and certainly not the full 5B shares, which even at todays depressed share price, would realise over $25M.
"Yes Marcuspd placing of whatever size are often snuck in without anyone noticing......🤣"
Well, the "experts" didn't spot over 370,000,000 shares being sold and got annoyed when they found out they'd already been sold, without them being told exactly when it was going to happen.
It's a simple question. Instead of one massive placing, can it be done in smaller placings and does it need forewarning in an RNS, or just after the event, as happened to 370M of GR shares?
Is it possible, as with GR's £1.7/2M share sale, that the placement of whatever size to start with, could be sneaked in a small amount at a time, without anyone noticing until after it had been done again?
Let's face it, nobody noticed £1.7M worth of shares get sold in July, early August until after it was announced.
I presume this has to be RNS'd, but the GR share sales didn't have to warn in advance, which would have effected SP, which he's told to minimise the effect of.
"1) There is a placing incoming - and soon. Some of the newbies in herre are showing their novice status on this"
Maybe, possibly and nobody knows how much or when. Neither does anyone know how much it might affect the SP.
Did GR's £2M sale affect it, or was it FUD on social media which caused people to sell, thinking the price would go down further.
There may well be a placing before shipment at the end of November, but nobody knows for sure how much of the £1.7M of interest free loan is left, nor how much is needed to run a plant not currently running. Choosing wording of an RNS, when they cant even get the dates right, to decide the money was spent before even announced, is guesswork at best.
If the risk is too much still at this price, sell and join the queue of people desperate to see the SP plummet, so they can get back in before production starts and the SP doubles and then some, because trying to jump back in then, will not be the bargain price the shares are now and you full well know this.
"But it seems there’s no confidence in the company presently".
It seems the confidence has suddenly drained at the same time many thought the £2M shares had yet to be sold, so cashed out and now can't get back in without making a loss.
Many of the same FUD spreaders and de-rampers were the same people rallying the troops behind GR a couple of weeks ago, since when we've found out the grade in the ground is very good, the RHGA mill has arrived and is being installed, the November target is ahead of schedule and GR had already sold his shares, so there won't be a dip from an upcoming £2M dump, which many seemed to think they had a right to be told about in advance, so they could use insider trading knowledge to make a profit.
Unbelievable!
"Also, if he has to wash the product 4 or 5 times how does that affect production output?"
Have a look at the video of the plant and count the levels of floatation tanks in the floatation circuit.
I believe all material goes through 4 cleaning levels, not through the same level 4 times. It's that big structure with tanks at varying heights, one after the other.
"Iky, so in 2017 it took one clean and in 2023 it's taken four cleans?".
Bear in kind the material in 2017 would have been processed in the lab from a core sample taken from a drill, however deep down.
This recent sample was from the now installed and needing upgrading, plant material, already ground down ready for floatation and cleaning. It could also realistically be that this test was carried out on material produced before the UV sorter was in and optimised and would have certainly been put through the not fit for purpose EDS mill, which is now being replaced.
Basically, if they can produce SC6.5 from that, this should well exceed the required SC6.
https://twitter.com/that_stocks_guy/status/1694241166470856728
"I tend to agree with Acker, this is a small RNS with no information in it which we didn't have before."
That's not the case though is it? The previous independent test of material was in 2017, meeting SC6.5. This new test was carried out on PLANT material this summer and confirms 6.56% grade with further gains to be made with magnetic separation of Iron/Ferric Oxide, which as it happens, ZULU now has, so can take benefit of this improvement.
That's not telling us anything we knew before. People were whining that there was no official statement on resource quality since 2017, GR gets on independently done, exceeding what we need and people still complain that it's not news.
He can't win. The stuff in the ground is better quality than expected and there's more of it than originally thought.
It certainly removes a lot of the risk for me. My main concern was that the material would not reach SC6, and become not worth mining. This uneconomical mining is what put RHA into hibernation. Luckily, this doesn't look the case here at all and higher than planned for, SC6.5 has been tested twice now as possible.
"See you all after Xmas.
Acker"...
Yet, here you still are playing down every piece of positive news. If you have nothing constructive to add, why bother? What changed in 2 weeks, the fact you sold your shares and the price hasn't dropped, so you can't buy back in?
Give it a rest and we'll see you when the SP is over a penny again. Then you can try buying back in at Christmas.