Member Info for Martinigirl

Steward, I too appreciate your view however one now needs to consider any future investment partner that's willing to pay the Canmax debt plus interest (continuing to accrue) and then be a minor partner in the potential future supply of SC6 after paying out many millions to get the plant working (if indeed it can work)

Would you pay someone's debts plus maybe another 10 million (minimum) with no guarantee that the mine will produce SC6 and if it does then you're not guaranteed to get the product because a company that walked away from their investment has priority because they bought shares in PREM.

Doesn't make for good reading does it

DazedandConfused, debate the issue here rather than raise my other investments. I'm content with my ALGW holdings, in fact I bought another million which I will hold through the delisting process into the relisting and make a substantial profit, something which anyone buying PREM shares won't see.

Majorhayze, how could they recoup everything right now? They're owed $47 million, George doesn't have the cash and they don't want the stake in Zulu (ask yourself why if it's such a valuable source of Lithium) they want their money and they want to walk away. Nothing more, nothing less

As always with a PREM RNS you need to beak it down and read exactly what it's saying but also look carefully at what it's not saying which is equally as important and I'd suggest even more important at this stage in the PREM story.

So what does it say:

1. "Parties have agreed to conditionally extend the Long Stop Date from 1 April 2025 to the sooner of either 31 December 2025 or a signed agreement from a reputable buyer acceptable to Canmax that will settle and/or manage Canmax's Prepayment Amount plus interest on terms to be agreed by Canmax"

Canmax want out, they want their money back and are no longer willing to support George or PREM, they don't believe that Zulu is capable of producing sufficient SC6 to make the repayments.

2. "The Amended Agreement remains the same as the Restated Offtake and Prepayment Agreement"

Interest continues to accrue at 12%

3. "Canmax having financial oversight for the monitoring and controlling of the operational financial activities of both Premier and Zulu Lithium"

George has had his wrists slapped like the naughty child and now needs parental approval to buy the sweeties he wants

4. "That no persons or entity has commenced with any bankruptcy, reorganisation, debt arrangement or other case"

If the creditors of the $17 million+ debt decide to commence legal proceedings the agreement is void.

5. "Premier including any of its subsidiaries agrees to not mortgage, pledge, lien, claim, encumbrance, charge or other security interest, option, defect or other right"

George cannot use Zulu as security for any future fundraise

6. "To the extent that the Expression of Interest is withdrawn, Premier will have thirty days (unless such period is extended by Canmax at its sole discretion) to secure an alternative reputable buyer that is acceptable to Canmax."

If the company interested in buying out Canmax pulls out then George has 30 days to find someone else or the deal is void.

So what doesn't it say? It doesn't say how PREM can pay its debts, it doesn't say how they propose to raise sufficient funds going forward to do the work required at Zulu. George has already clearly stated in previous RNS what work he believes is required and the cost of the work and equipment needed. He has neither the funds available now nor the ability to raise sufficient funds to do the work he claims is necessary. It doesn't say how they propose to pay the $17 million+ current liabilities.

Canmax are no longer interested in PREM, they want to exit their position, recoup the money they've loaned George and move on. They've got a team on the ground at Zulu, they know what's in the ground and for a company that many on here say are desperate for SC6, they want to walk away.

WHY?

There's no investment case for PREM now, it's dead in the water, I cannot envisage a scenario going forwards where PREM survives. Any company doing due diligence for a potential JV will see far too many red flags to justify the i

It's clear there has been a number of large volume trades over the last couple of days, it's debate as to if they've been buys or sells. I'm in two minds about the 500 million today but on balance I think it's a buy, the one yesterday I'm happy is a sell.

My opinion on the company hasn't changed. There's been no clarification as to how things may progress, the debts continue to accumulate and George has no method to settle those crucial debts. Canmax will more than likely take their share of Zulu on 1st April making them a minor partner as it's now clear that the interest payable on the loan wasn't compounded (assuming George's figures in the recent RNS are accurate).

This minority ownership/partnership actually benefits Canamax since as a minority partner they require PREM to stump up the larger part of any monies required to get zulu running. They also have the option, which I think they'll take, is to say, forget it George, we're not taking part ownership of the plant until you've sorted all the issues and for it running and producing. Well stay where we are but as a gesture of goodwill we won't add any more interest payments. Leaving PREM carrying the can with all the financial responsibility for the plant, no cash to do the work leading to insolvency and Canmax taking Zulu in it's entirety for the debts owed.

There's no conceivable scenario, given PREMs debts where this company survives and makes money out of Zulu. Best shareholders can hope for is that George somehow gets $30 million, settles the debts and cam keep the lights on for a few more months whilst searching for yet another vanity project he can sell to shareholders

Martin, when you behave like a bot its fair to assume that people will think you're a bot. When you run multiple aliases like you do with Sandrinhham7, quagpalm, stormpiper repeating yourself through those aliases it's fair to assume you're a bot. When you don't answer questions put directly to you but demand answers from others, it's fair to assume you're a bot.

I now know that at least one of your aliases isn't a bot after your posts on the Facebook group. Where incidentally you posted the same trivial rubbish you post in here and despite having the reason for the high volume explained to you, you still don't learn and post the same drivel.

Tell me what is the bull case for PREM right now? How do they solve their debt problems?

Sandringham7 / Quagpalm / Stormpiper / Luthee / Botuney, whichever alias you're using today.

Keith explained clearly to you in the Facebook group exactly how it works much as we have all explained to you how it works but for some reason you cannot grasp the simple concept despite bowing to Keith's superior knowledge.

Running 3 aliases must be difficult for you right now and working out which one said what can't be easy. Are all the people in Dorking as simple as you? If you cannot understand simple market mechanics then you as an individual are a moron and each of your aliases equally without credibility.

As an aside I may now consider legal action against you or the owner of the bot.

Quagbot, that's very interesting about your foray into ADVFN, not a site I'm a member of as I've found it to be next to useless with less than valuable discussion points and it seems to be more of a place for the mentally unstable to post free from moderation. If your post is an attempt to frighten me into not posting here the it's rather pathetic, much like you if indeed you do exist as a person which I highly doubt.

If this particular individual has indeed suggested to George that he take legal action against me and has the support of the telegram group to do so, although I'm not entirely sure why the telegram group would need to support such action, I doubt they've got enough money left between them to raise a case in the small claims court let alone a libel case.

Anyways I'm more than happy to defend everything I've stated here in a court of law, I'm satisfied that I've not made any libelous statements and if you wouldn't mind posting on the ADVFN site for the benefit of whomever suggested to George that he take me to court and hopes I have a good lawyer. My husband is a KC and a very good one who wouldn't charge me a penny. The fees to PREM on losing the case though would be massive. I'm confident that my non libelous posts won't be subject to any legal action and I'm more than happy to clarify that I post under one pseudonym and no others unlike Quagpalm and Stormpiper who are without a doubt the same individual / bot formerly posting as Luthee and another name that escapes me right now.

Quagbot, if you've nothing better to do then please fo back through my history, 8 months to a year ago when the share price was much much higher I declared I was willing to invest £100k under certain conditions, im sure youve never had anything closebto 100k in your account so are a little intimidated by ability to have such a skm available to invest. Those conditions were never met, and the share price now languishing, at a guess, around 90% lower than that time.

The facts here a clear and obvious, anyone with a single brain cell can see that PREM is doomed to bankruptcy. Whatever some say about Canmax and 1st April, PREM has debts they cannot pay: Salaries, VAT, Contractors are the ones we know about but what we do know is they total now in excess of 17 million, 17 million that PREM doesn't have and cannot raise through current headroom. The Chinese partner isn't interested in providing funding, they're going down the route that I've always suggested in the land grab. It's a typical Chinese way, they're playing their game and George is delivering everything they want.

Wolframite, that was most definitely a warehoused 215 million sell, there's no possible way in this world that a buy of that size would be just above the mid point of the spread at the time.

Is slowly being realised. It's clear that those who took part in the placing and the contractors are selling down their holdings. Why? Because they don't see any value in PREM as an investment. The placees because they hoped they'd make a profit off of the back of the discounted placing and the contractors because they're on site and know exactly what's going on and the only way they'll get their money is to sell now rather than hold for a rise.

Some here will provide links to Facebook pages where Keith promotes his narrative much like Noel and Snowking in the telegram group, although to be fair he is reasonably critical of the company. They'll also provide links to years old pictures of a Chinese businessman visiting Zulu, that same businessman and the company he is a major shareholder of no longer participate in PREM fundraises. Why? Because they know that by staying away they can fulfill their agenda of taking complete control of the Zulu plant at no additional cost. George Greville Roach has driven this company into the ground, so deep in fact that there's no way of it ever making it back to the surface. The debts are massive, the staff (George, Brendan, Wilna and the board aside) haven't been paid for the best part of 9 months now, families where the sole breadwinner hasn't been able to put food on the table because George needed to go to London and court potential investors, all of whom ate the steaks, drank the wine and said emphatically NO WE'RE NOT INVESTING.

what's George done with the money he's raised so far this year. Before last week he had half a million before expenses and needed to raise again last week, all the while not paying staff, not paying contractors, not paying the VAT bill. What did he do with that money? Pay the credit card bill from the last London trip?

Anyone buying these shares now is nothing more than a gambler. There's plenty better gambles out there with undervalued companies that won't be going out of business. If you like pharma look at AVCT, if you like non correlated insurance assets look at ALGW, if you like miners or oil and gas then look on telegram at The Hive group, there's plenty of impartial discussion there. Whatever you do, just don't loom at PREM, mark my words this company is now doomed to failure and whatever anyone says there's not even a trading opportunity here now. If there was I'd be all over it but quite frankly I wouldn't be prepared to risk the £125 it now costs to get a million shares let alone the £100k I was looking to invest not so very long ago if the circumstances had been right.

It's all about due diligence, do it correctly and you'll make the right decisions

Well today's raise wasn't unsurprising. After the RNS yesterday it's obvious that the financial position of the company is somewhat precarious and George has pretty much made it clear that the future of the company lies in its ability to raise funds. What's extremely concerning is that now they've raised funds they're not using those funds to pay those essential debts, the salaries should be the main priority but no mention of that, simply ongoing working capital. When I ran a business, my staff were my main priority, their terms and conditions and making sure they were paid on time. George clearly has no respect for his staff and continues to take his wages despite knowing his minimum wage staff haven't been paid since June 2024. That's absolutely disgraceful and on it's own should be enough justification to see that PREM is uninvestable.

Well it's now very clear exactly what a dire situation tye company is in. Attempts to negotiate a raise have failed, attempts to negotiate death spiral convertible loan notes have failed and now George is begging Canmax for further investment.

Remember when George was interviewed after the AGM where he stated he had CLN finance in place of requires but chose not to go down that route. Now not even the CLN vultures are interested in losing their money.

I cannot now see any possible solution to the company debt problems, the priority and salary debt alone is around 10 times greater than the ability to raise funds through the headroom he has available. He's laid it out in black and white and there's now no viable option going forwards, the debts are just too great with no realistic prospect of being able to satisfy those debts. I would expect the next RNS to be a suspension of trading pending an announcement and that announcement being the insolvency of the company and shareholders losing all of their investment.

Canmax will gladly forfeit their investment in PREM in favour of 100% control of Zulu. The Canmax major shareholder knows how to play a long game and will win this one. PREM shareholders will lose everything.

Yet you reply with Childish emojis. No bigger child here than whoever programmed the Quag and Storm bots

Jaglith, I don't foe one second believe that Storm is shorting this, I also don't believe for one minute that Storm and Quag are actually real life individuals, simply a poorly programmed bot that is incapable of reasoned logic. The fact that they never answer any direct questions is enough evidence to support my supposition.

Let's look at the facts as they stand. On 16th January 2025 PREM announced a placing to raise £3.5 million before expenses for the issuance of 12.6 billion shares to be utilised to:

"Settle certain immediately due creditor payments and essential staff payments to ensure re-commencement of operations at Zulu and commence the planned test run of the Zulu plant operation for a limited period of 3-to-5-day test."

That fundraise failed because the company couldn't get sufficient interest from the city and shareholders declined to participate in sufficient numbers (despite the quagpalm/stoempiper bot assurance that it would be successful).

Why only 12.6 billion shares though when he had headroom for 15 billion? Was it because 2.4 billion shares would be enough to repay his loan when the share price plummeted post placing? That loan of 370 million shares. Surely if he had the best interests of the company at heart he would want to be repaid 370 million shares so he would be in the same position he was prior to the loan. Then the additional 2.4 billion shares could have been used to raise additional working capital?

Or was this the act of a man seeking to better his position all the while claiming to be aligned with shareholders?

On the 24th January 2025, the company brokers 100% funded a raise of £540k, the city weren't interested in participating. This fundraise was to be utilised "provide working capital to both support essential operational requirements at Zulu and also allow an initial start to the infrastructure and other associated requirements for the installation of the additional float cells and assist in plant readiness for the limited test run that has been planned"

Since that second fundraise certain contractors elected to receive payment in shares, which as we all know have been sold. One needs to ask why would a contractor on site want to sell the shares they were issued as payment? What do they know, being om site that would make them want to sell those shares rather than hold on to them?

The next question and the most important one is on the financial situation of the company, it's ability to move forwards.

1. The funds from the 16th January failed raise were to be used to pay staff and the essential bills.

2. The 24th January RNS makes no mention of paying the staff and the essential bills, just site development and ongoing costs.

This raises many more questions that need to be answered

OK, by any definition of the word I am a shareholder, that fact is incontrovertible, the value or voting rights of my shareholding in the grand scheme of 39 billion shares in issue is an irrelevance.

Rather than attack the person it's perhaps better to debate the issues, question the company, ask the questions about the financial position as it stands, what the money that was recently raised has been used for, how the priority debts will be paid, if the staff at Zulu have been paid and if the management team are still drawing salaries

The RNS for the failed raise stated the company needed funds for staff salaries, contractor payments, partial payment of the VAT bill and site development. That raise failed and George decided to change what the money would be used for, now site development and ongoing costs. Some contractors took shares and dumped them onto the market. Staff wages still haven't been paid nor has the VAT bill, I've had this confirmed from Wilna after a conversation with George.

You can attack me all you want.

When we invest in a company we do so with the best of intentions, we believe in the company we put our money into and we, to a certain extent, become blinded to the facts that are presented to us, even when those facts say it's time to get out.

PREM is just one of those companies that had so much promise, a CEO that talked the talk and spent money on projects that would be beneficial.

Sadly those projects weren't beneficial, the company has produced Zero value for shareholders, wild promises from the CEO have resulted in massive losses for shareholders.

It's time to take stock, look objectively at the company and ask yourself if I wasn't invested would I put my money in for a long-term investment?

I doubt anyone would be able to say that they would.

Look logically at the company and then make a decision, a share that's currently worth 1/50th of a penny in PREM that's likely to become Zero, could well be worth a lot more invested elsewhere.

Hasiba, this is a PREM forum, discussing other people's investments or those of their family members is bad form.

I'm intrigued by your statement of having a very low average here, suggesting that you're not underwater, and quite frankly I don't believe you. Based on your previous continual large purchases you claim to have made at very very very much higher prices, in order to have a very low average you would need to be above the 3% threshold for notification and have bought the majority of those shares at around 0.03p. It's all well and good attempting to mislead the posters here, but what's even worse is that you're now so uncomfortable with your investment and your current losses after your continual support of George and the company that you're now having to lie about it in a vain attempt to somehow justify your poor investment decision to yourself. I feel sorry for you and the situation you find yourself in, but it's a situation of your own making. Accept you've made a bad decision and move on, look for an exit strategy that can help you recover some of those losses. Once you've accepted that you've made a mistake then you can move on and learn from your mistake. All is not lost if you make the decision to sell and buy elsewhere.

Everyone invested here now should be looking to minimise those losses right now before this goes to zero.

If what Raaydaar has said about George not having paid the VAT and staff is correct then there's certainly no way out, the government will seek to seize the assets tonpay the VAT bill, remember the 250k George was going to pay was just a part payment so the bill is going to be much much higher.

Unfortunately a buffoon politician that does what he says is still a buffoon. The US economy may well have been in a good state when he left after his first term, however the start of his second term has seen massive job cuts ( at the behest of Musk) in significant safety related roles in the nuclear and aviation industries. Since he first implemented his cuts to the FAA on the 20th January there have been 12 plane crashes in the US resulting in 81 lives being lost, a further 2 accidents have occurred that thankfully resulted in no loss of life (as yet). He is unfortunately so full of himself and believes that the crazy ideas that come into his head should be implemented no matter what the cost in terms of safety or life but if it goes wring he'll blame everyone but his administration. The Washington mod air collision is a prime example, nowhere else in the world would a true leader start apportioning blame on diversity recruitment or indeed anything else, a true leader would say " Our thoughts and prayers are with the victims and their families, our thanks to the emergency services and we look forward to finding out exactly what's happened when the authorities have completed their investigation."

Quagpalm, I'm hardly an OAP, pensioner without a doubt and I've earned that right. Thankfully I can live a happy retirement without any financial constraints due to having paid extra into my pension fund throughout my working life. I'd advise you to do the same rather than gambling on PREM. Pay as much as you can into a pension fund and then reap the rewards in retirement and perhaps like me will be in a position where you don't have any money concerns and maybe even have a pot large enough to provide a significant inheritance to your kids when you're gone. Buying PREM shares certainly won't provide any future money for your family.

I'll ask again for your investment case for PREM, you bought at 0.027 and probably higher under your Luthee alias so must be sitting on a hefty loss, are you buying more to average down, must be a real bargain right now, maybe throw £50k in that'll get you about 1/4 of a billion shares, a real bargain and will bring your average right down. My £100k I had ready to invest has now been spent wisely elsewhere as there just isn't an investment case for putting any money into PREM and your inability or unwillingness to provide one and preference to posting insults proves that to be the case along with proof that you are indeed the moronic individual you purport to be.

Mugwump, I believe it was $838 today