Member Info for Martinigirl

Couldn't agree more, virtually begging for shareholder support now. He can see that his and PREMs days are numbered. I don't imagine the company will still exist at the start of 2025

Looks good. They're clearly pushing forward with the marketing of the AAACX and highlighting its unique nature. I'd expect it will be quite attractive to US investors and should do well.

All they need to do now is get the $2bn or more AUM and set everything up for the sale of the company.

Crikey, dykee is back with the insults. I'm amazed that none of the uber bulls have been able to put forward an investment case. It's clear and obvious that there isnt one. Seahorse posts a link to a Facebook group that nobody is a member of linking a post that is no doubt completely irrelevant to the current PREM situation.

As things stand the status quo exists with no further developments and a company with zero funds that is unlikely to be able to raise any additonal finance at a beneficial rate. The only way forward for Gerorge now is the open offer, however I'm not convinced he'll have enough support from shareholders as he'll need to issue close to 20 billion shares after costs and discount, to raise the $5 million he states the company needs to remain a going concern, $5 million that at best will last no mlre than 6 weeks. The other alternative to be considered is the CLN route but i doubt that the CLN vultures would be interested as the risk, even for them, would be too great. Therefore the only conclusion one can come to is that PREM will most likely cease trading before the end of 2024.

I cannot imagine that any positive news could be released prior to the rescheduled GM. The plant isn't operating, it's unlikely there'll be any progress with any of the other projects and the company have no money to progress the required modifications at Zulu.

The Canmax ramp from the other day has clearly come to nothing as expected as their release of funds was, despite what some in here were suggesting, was obviously not for investment jn Zulu. It did however provide the additional liquidity that those making the suggestion needed to sell down, with a view to participating in the upcoming placing. A salutory lesson for those looking in not to believe all the uber positive insulations you read in these forums and to perhaps take a more cautious view and consider the negatives too.

It's pretty obvious now how this is going to play out and it's most certainly not going to be good for anyone holding or buying into PREM.

Is now the clear and obvious way forward for George now. Without Canmax support there's no way he can get the motion passed. The alternative that Acker mentioned in Darwin, for those that don't know the history was back in about 2017 or early 2018 when Geroge was in a desperate situation and went down the CLN route which he managed to get out of. There's absolutely no chance of him getting out of the death spiral CLN of he chooses to go there this time. It will have to be an open offer which most certainly won't be favourable to shareholders but gives an opportunity to keep the company in business for a while but unlikely to be a going concern as per the requirements of the interims

Clueless, I have no other accounts to switch to, I will admit to knowing Raaydaar having met him prevously through our mutual investment in ALGW where he is a major shareholder however since we first met at a meeting with Gobind several years ago and drinks with other shareholders afterwards I've had no contact with him. My ALGW investment is my largest shareholding by far in my portfolio and currently profitable so I'm more than happy to be associated with him as a like minded investor in a company that has proven profitable in the portfolio and likely to continue to do so

Luthee, please enlighten me with some facts to negate my assertions.

You're continual assertions that I have no shareholding in PREM, incorrect, as you are fully aware. Your childlike behaviour serves no purpose other than to make you appear foolish and lacking in intellect.

You yourself have openly stated that PREM isn't a share you would advise anyone to invest in yet you have claimed to own nearly 2.8% of the company, a claim we can all see clearly is that of a Walter Mitty type.

I may be a so called "keyboard warrior" in your eyes, in reality I am a true "warrior" and stand by everything I have stated, which so far has been accurate and nothing you or any of the other children have been able to challenge and disprove with your own "facts"

Richard, I'm not qualified to give advice, only you can make the decision to hold or sell. I just call it as I see it based on the information available from watching the interviews and carefully reading each of the RNS releases, as I've said many times before, George is very careful with his wording in the RNS releases and you should read them very carefully to truly understand what he's saying and coincidentally what he doesn't say is more often than not very revealing too.

Having read the postponement RNS and watching the meeting today several things are now very clear:

1. Canmax have lost faith in George and are now no longer supporting PREM.

2. The 9.5 billion shares will not be anywhere near enough to provide the company with sufficient capital to pay the creditors and cover day to day expenditures. It would most likely last about a month at most. Therefore he'll be back cap in hand asking for more before the end of November.

3. The plant requires a lot more work than just this final fix with the cleaners. As we already know the sorters need to be replaced and the LIMS is to be replaced with a more powerful unit. All these things require funds which George does not have.

4. Possible JV partner requires further capital investment from PREM. Funds which PREM does not have nor has access to.

5. Due Diligence by a potential JV partner will take time, time which PREM does not have due to cash constraints.

6. Other projects are unlikely to provide any cashflow in the near future, Circum investment at best may return PREMs initial investment.

7. George wants to get back to RHA and get that back up and running. How does he propose to fund that?

It's clear that the vote is going to be against the motion leaving George in the difficult position of needing to raise significant funds. He doesn't have access to traditional funding, therefore he has 2 options, an open offer, which wouldn't be on favourable terms,or the CLN route. Whichever route he chooses shareholders will suffer a further depreciation in the value of their holdings.

Unless George can talk Canmax around to changing their mind then PREM is done for.

I suggested some time ago that Canmax were playing a long game with a view to a land grab for Zulu, and it would appear that they are now making their move.

George is most likely now in London enjoying the hospitality associated with this unnecessary trip. He will most likely now be in possession of a lot of the numbers and have a good idea about if the vote for the 9.5 billion more shares will go through and be discussing options with the broker.

If he gets the headroom then the placing (and I think it will be just one placing) for the full 9,735,968,254 will be announced after hours on Friday or 7am on Monday, yhe question is at what discount to the prevailing price at the close on the day or the day before? The recent rise and his expectation of around 0.35p suggests a placing around that 0.35p price unless the market realises its coming and those many buyers Luthee (imaginary 2.8% of the company) realise they've made a mistake and sell down to buy back at the lower placing price.

I would imagine a steady decline in the SP from here until the results of the meeting. It would be careless of any holders to believe that there won't be a sell off ahead of the meeting. George has attempted to inflate the price and has succeeded to a certain extent but the uncertainty surrounding the future of the company will prevail along with his implementation of another Force Majeure and yet to still formally inform the markets and shareholders will be to his detriment.

He will however be sipping fine single malts as I write this having enjoyed the à la carte menu with Brendan and the rest of the entourage all at shareholder expense along with visits to those London landmarks that are required to entertain potential investors.

Fair enough if he said that. I don't recall seeing that video. That said, these types of legal action are usually time limited in that action needs to be instigated withing a certain time frame from being aware of the problem.

Cherryburn, PREM won't get a single penny out of Stark, George is happy to blame them for the failings of the plant but he accepted their plant design knowing full well it was very different to the design requirements as laid out in the scoping study. If he was going to take legal action against Stark he would have done it by now and I'm sure his legal counsel will have advised him against taking such an expensive course of action with little chance of success and a lengthy timescale involved.

Botuney, rather than dispute the statement with demands for verification, perhaps you could provide evidence that the replacement sorters won't cost as much as has been claimed. Should be easy to do since you're so adamant that the figure is wrong. I've looked and can't see anything under $1.5 million that has the capacity required for the plant.

Wolframite, I've no idea I was just providing you with a couple of examples of what you requested.

It's not inconceivable that he'll make a addition as I can't imagine that 9.5 billion shares will give him anywhere near the funding he will require.

Wolframite,

Minutes for the GM called kn 8th July 2024 we're added to with a second resolution on 12th July 2024 after George was found not to have paid China Zenith from the previous funding despite having specifically requested headroom to pay them.

I also have a recollection of him calling a GM and then subsequently releasing news about his loan prior to the date of the meeting.

I'm sure there are numerous other examples.

Luthee, monopoly money pretend investments and demo account trading doesn't count as real investing.

Time for you to wake up and have your frosties.

The buys you've posted on here amount to an investment of around £30k which is currently worth around £12k.

Your desperation is becoming more apparant and the blatant lies to try and make yourself appear credible are hilarious. You complete and utter Walt!

Jaglith, the 500k is long gone, they only had 250k on the bank at the end of June.

Interesting that George once again isn't using the placing money for the reasons he stated PREM needed it. Once again George not paying the company debts, look where that got him with Zenith. Perhaps more lawsuits incoming for unpaid contractors and the $million owed to Zenith in interest payments.

The daily average is a little over 318 million and it hasn't been exceeded as of yet today

That's the first of the placings out of the way. Clearly keeping some back in order to cover the shortfall to Zenith. EGM call by close of play on Friday. How many will he be asking for? A very big number would be my guess close to 30 billion.

Whywastetime, you believe in Santa don't you?