Member Info for Martinigirl

Long-John-Silver, I'm more than happy to oblige:

1. Made a tidy sum on the rise to 1p, and trading on the swings as the price dropped when it was clear George wasn't getting this project over the line.

Anyone with any knowledge of the company history and George could have clearly seen exactly what would happen, and did indeed happen. It's not about shareholding or morbid fascination, the AIM game is about making money and anyone investing in PREM whether as a current holder or buying in will not make money. The company is doomed to failure as it has been since the failure of RHA and George spending money on vanity projects rather than utilising it for what was really needed.

He is the epitome of a lifestyle CEO, being kept in good meals, first class travel and unlimited Shiraz, I'm reminded of the Stockbox live interview he did about a year ago from one of the conferences where he was absolutely hammered, making promises he couldn't and didn't deliver on. He'll keep taking the salary and consultancy fees for as long as he can, all the while pouring himself another glass of wine and tucking in to a tomahawk steak off of the Braai all paid for by the likes of Hasiba who still keep believing his rhetoric or have some bizarre logical belief that this project will succeed despite essentially being insolvent until such time as George manages to raise some funds, which if even the most loyal of supporters thinks about logically, would have happened by now if it was going to happen.

Luthee (Quagpalm or Stormpiper) I'm still waiting for you to prove to me you're not the moron you appear to be. Give me the bull case for investing in PREM rather than the pathetic character insulting comments you only seem to be capable of.

Luthee, there's plenty to discuss, for example the rather large elephant in the room that is funding. Perhaps you'd care to share your thoughts on how the company moves forward without any viable source of financing. I'm intrigued as to how you think PREM is a viable investment. Give me your best bull case. Show me that you're not the moron I take you to be.

Luthee, we've all seen interviews with George over the years, and it's pretty much all bluff and bluster, with carefully chosen words. I'd suggest you watch the interview again and listen carefully to how he uses carefully chosen words. There is no testing going on, that would require money, money that George doesn't have. It would also require a workforce, and it's likely that most, if not all of the Zulu workers will now be working elsewhere, after all they need to put food on the table, pay their bills etc and with George not paying them for at least 6 months I doubt they'll be loyal enough to work on the promise of getting some money some time in the future.

Luthee, there's nothing "imagined" about this "mess." It's a clear and obvious mess that can only start to be cleaned up with a significant cash injection, which to all intents and purposes isn't forthcoming. George has had the ability to raise funds since the 23rd December. Historically he has always utilised headroom at the earliest opportunity. The company is in dire financial straits as evidences by the 4th December RNS so what's different this time?

Acker I'd be interested in your thoughts on the lack of news regarding the desperately needed fundraise.

Jaglith, 15 billion at 0.03 gives him £4.5 million take off the fees and that's about £4 million so not enough. If by some miracle he gets the placing away at 0.04 then he'll bet about £5.5 million which is probably just enough to cover what he owes and wants to spend but doesn't provide any capital going forwards.

Coldsteel, I've previously stated my rationale for how Canmax will take possession of Zulu, and the reduced agreed valuation of the asset will make it much easier for them to do so.

They'll never convert debt into PREM share ownership and I cannot imagine a scenario where they'll purchase further PREM shares, it's not in their interests to do so. The only asset of value that PREM hold is Zulu, it makes no sense for them to make additional investment in PREM, especially to the point where they would hold up to 29.99% of the company. This is why I believe the placing hasn't happened, George assumed that by getting their support for the headroom that they would indeed be willing to part with the cash to maintain their position from the original agreement. I believe that support has not been forthcoming and the city vultures aren't interested in taking the placing at the price George needs. I suspect that George will have to backtrack on the Open Offer and CLN which will see the final nails hammered into the PREM coffin and that's how Canmax will take Zulu in it's entirety now they have security over the asset.

Coldstream, there'll be no firesale of assets, Canmax will take Zulu in it's entirety and PREM shareholders will receive nothing in return.

The placing needed to be done by close of play yesterday, there's still time for it to be announced Monday morning but if the 7am rns doesn't come on Monday then we know for sure that Canmax aren't playing the same game as George and the City boys aren't interested at any price.

The nails are being hammered into the PREM coffin as I write thus, whether the final nail is hammered in on Monday morning is all down to a news release. No news and PREM is done for. A placing RNS buys some time but the same outcome is inevitable and shareholders lose everything

Is George struggling to get the support he needs to get the placing away? One would have thought after all his positivity in the recent interview that he wouldn't have any problems raising the funds he needs. Clearly the support and interest he claimed to have isn't forthcoming. The company os desperate for funds and if he doesn't get the raise completed by the end of this week there's pretty much no hope of PREM surviving.

Gazza, I'm sorry that your in such a lonely place at

this time of year. As for your quoting of my post and assertions that I'm a proven liar, they're wholly inaccurate, but you're well aware of that aren't you.

In the post you quoted, what is inaccurate? Exactly how much money have PREM recovered from STARK to date? Have PREM commenced legal action against STARK to recover any monies?

The MMs are walking it down nice and slowly to attract the premmings who still believe that this is going to work out for then.

Looks increasingly like the placing will be sub 0.03 and utilising the full 15 billion won't give George the money he needs. Anyone hazard a guess when in January the next GM will be and how many more shares he'll be asking for?

I expected the announcement today, however it seems that George has reverted to form and will likely break the bad news after market close tomorrow which suggests the placing will not be on terms favourable to shareholders. I don't think it will be as low as 0.02 but something in the region of 0.0275. This is all assuming that Canmax will be taking the placing and that's what puzzles me. George has suggested they will participate and that there are willing participants out there. The fact the raise hasn't been announced today suggests that either Canmax aren't interested (which is very possible now they've security over their debt) or the city boys don't want to risk their money at a price George wants. All that said it could well be closer to 0.02 when I think about it.

Someone mentioned earlier that it's been suggested he may go down the CLN route, that would be the worst possible decision he could make and if he chooses that route then it's clear that both Canmax and the City aren't at all interested and the end of PREM is nigh

Jaglith, the amounts are not penalties, they are repayments of the capital loaned to PREM in lieu of non delivery of product. As it stands PREM owes $34 million plus accrued interest currently at a rate of 12%. Once the long stop date is reached is PREM has failed to deliver any product (which is imho highly likely) then the total amount to be repaid including interest is around $60 million. Canmax now have the opportunity to convert some of that interest accrued to date into PREM shares, I can't for the life of me see why they would want to do that though or indeed how that would benefit PREM since they wouldn't actually get any of the desperately needed cash, merely just some of the accrued debt exchanged for equity and it would significantly impact the 15 billion shares headroom and reduce the amount of cash George could raise and would mean he definitely wouldn't have anywhere near enough to pay the current immediate liabilities, pay for the plant test run and buy the new kit he says he's committed to buying.

Wullie, what your saying is that PREM holders are apathetic, James Goozee couldn't even be bothered to vote this time or indeed the last time. The fact that 99% of shareholders couldn't take 5 or 10 minutes of their time to make a few mouse clicks and support the company amazes me. Did you vote? It seems to me that none of the fan boys and girls on here despite all their positivity couldn't be bothered to take the time and support the company.

George now has 15 billion shares he can place and I've every confidence he will place the full q5 billion this week and be back in January asking for another 20 billion.

I wish you and yours a merry Christmas. My submission to Ciyy of London Police fraud unit was acknowledged and I assume they will carry out their investigations as they see fit. The reports to the FCA were disappointingly not acknowledged but with a bit more pressure they'll take action

Early on the Buckie today Wullie, but I suppose it is Christmas.

Does look increasingly like George is going to be hoping for a Christmas miracle though. Everything he said in the last Stockbox interview that provided a little hope for shareholders appears not to have come to fruition.

Luthee, instead of throwing out the insults perhaps you could share some of your wisdom and knowledge of the company to counter any assertions made by others. Surely a gainfully employed intellectual can make a reasoned argument against statements made by those of us without jobs

I'll continue where I left off after my post was somehow submitted without my posting it:

Debt is spiralling out of control to the point that the issuance of 15 billion more shares is likely to be just enough to pay that debt, diluting shareholders by nearly 43% and George seems to think this is acceptable. He'll happily spend money on a new plant addition as soon as he has it in the bank, despite not knowing if the current set up will work well enough to allow for the additional part. Money burns a hole in his pocket and he spends in faster than a teenager in a technology store. He's a liability and is only seeking to continue to take his own salary every month, he's clearly not interested in paying the Zulu staff given how substantial the salary debt currently is. Those trips to London could have easily covered the salaries outstanding and they were clearly jollies on expenses given that the next meeting is online. Guess the credit cards have been maxed out now and it's a cheap South African Shiraz and a Braai in Fort Rixon rather than fine dining and gentlemens clubs in London

PREM is one of those shares where holders become far too emotionally attached. The believers have faith that all will come good and George will get Zulu into production. He just needs a bit more time and a few £million more to get those last few tweaks that he "believes" will make all the difference.

Sadly the reality is somewhat different, the tweaks aren't working, the company debt i