Member Info for Martinigirl

Whywastetime all of which are irrelevant to PREM, your attempts at association are pathetic at best. No doubt you'll be mentioning a Chinese Billionaire very shortly who's company aren't prepared to invest any further funds into the PREM coffers.

Keep trying sunshine maybe one day you'll have enough intellect to out forward a coherent, reasoned and credible argument instead of the tenuous links my (teacher) daughters class of 6 and 7 year olds could come up with as an investment case.

Acker, hope you had a good holiday and come back refreshed and relaxed.

Have to disagree about a JV or buyout, just not going to happen, the plant has too many unresolved issues that will require significant capital expenditure to be fixed. George talks in the video of the floatation costing circa $400k and 3 months to buy and install as not being a lot of money. PREM currently has no money needs to raise to pay the bills and get shareholder approval for $5mill working capital going forward. That $400k is a big chunk of his requested headroom capital so hardly a small amount.

As I've stated before any JV or takeover will be subject to Due Diligence, that takes time, time PREM does not have. I'm sure the "man in the hat" will agree that shareholders will be unlikely to support a potential 100% dilution to fund George and Brendans lifestyle.

Will the EGM be in London again? Another trip in expenses getting those air miles and hotel loyalty points?

So many many red flags here right now, it amazes me how anyone could possibly see any positive investment case right now given what George has told the market in the RNS and in interview.

"Aux idiots l’argent brûle les doigts"

Kenny,

"remier African Minerals' lithium processing plant at the Zulu mine can produce nearly 50,000 tonnes of spodumene concentrate each year."

Can it really? I've seen no evidence of this, please provide some factual evidence to back up this assertion or are you being as bad Botuney, Luthee et al and spouting rubbish in the hope that someone might believe it?

Adam as I explained yesterday there'll not be any buyout or JV offers, PREM hasn't the time or the money to survive long enough for the relevant due diligence to be done. The sole option is to go it alone and that will require massive dilution with no guarantees of success or indeed ahareholder approval of the required headroom. George tells a good story but ultimately has never achieved viable production or shareholder returns from any project he has gotten PREM involved in.

The activities of other companies in Zimbabwe have no bearing whatsoever on the future viability of Zulu or indeed PREM as an entity.

I forgot to add, you wouldn't keep the shares, the company would be suspended and then delist.

Wayne, if PREM is bought out the debts would need to be paid first then whatever was left would be shared amongst shareholders so with current debts as they are it's unlikely shareholders would see any money at all.

Luthee, you're deluded. Canmax have shown their hand by not providing any more money to George.

How's your near 2.8% of the company investment performing? You complete and utter Walt!

Crikey, what an awful RNS!

As expected the numbers are absolutely shocking, what's more disgraceful is that he's clearly misled shareholders in recent RNS communications.

So where are things at? As I see it:

1. There's an imminent placing or open offer for the remaining 2 billion shares to get the company some money to pay down some of the accrued debts to contractors and suppliers who are clearly no longer willing to receive shares as payment. This raise will be at a significant discount as the risks are just to great for the standard 10 or 20% discount. I'd imagine 50% or more.

2. A JV is highly unlikely due to the material uncertainty that exists with the plants ability to produce a saleable product, I cannot imagine anyone being willing to risk the investment and in any case the DD required would take a very long time.

3. Sale of Zulu? Again who would buy it and tye DD again would take a very long time

4. Go it alone? Well we've all seen what happens when George goes it alone.

5. Minimum requirement is access to at least $5 million so an EGM will be called, once the discounted placing is out of the way at say 0.015, $5 million would equate to about 25 billion more shares in required headroom, he'll want some leeway on that to factor in further discounts so he'll probably be asking for circa 35 billion more which will equate to pretty much 100% dilution to shareholders

6. The going concern statement made some very questionable assumptions in regards to assets vs liabilities. They've essentially written off the Canmax prepayment as a liability as "This advance receipt will be settled from proceeds from the sale of SC6 to the offtake partner" om not sure how that works? As it stands until the plant produces saleable product then the prepayment plus interest is a most definite liability. Therefore liabilities outweigh assets by $47.815 million.

7. With liabilities outweighing assets by such a massive amount, PREM is technically insolvent. This alone would make it impossible to obtain funding via any of the more traditional methods.

8. It's all down to shareholders now going forward. Will they support 100% or more dilution with the risks involved, or will they say no more?

It's a complete mess, one that was blatantly obvious to many of us on here. Certain individuals should be embarrassed at some of their posts in here and the telegram groups.

Don't envisage PREM seeing out 2024.

I think you're nearly right Raaydaar, the Monday RNS or Tuesday suspension is correct but I think you're out by a week or so for the placing RNS, George will wait until he's got confirmation that Zenith have sold all their shares, which I agree will be at least a couple of weeks away. The rise today was simply down to them waiting for the right price to sell so PREM don't have to cover the shortfall. I do have to admire the misguided confidence of some individuals here. Luthee in particular amuses me, his Walter Mitty type posts of owning close to 2.8% of the company are amusing to say the least when he/she/they are barely capable of putting together a coherent sentence let alone provide a valid investment case for PREM

Luthee, anyone with half a brain knows what's going to happen next week. There'll be an RNS at some point during the week confirming the details of the fund raise. There should also be an RNS on Monday, if not most definitely one first thing Tuesday morning.

Zenith will continue to see their shares sold which at current volumes should take around 2 more weeks.

My hiatus from social media has been refreshing and I'd suggest that everyone take the opportunity for a week or 2 break from it.

It would appear that nothing has changed, my supposed super yacht isn't anything like that just a mere 7 berth 36 footer that we've owned from new since 1994. Back to PREM, I see nothing has changed, George has admitted they need funding before the end of the month before they can switch the plant back on, still no news on the required modifications from the lab so all a bit of a mess really. All the science in the world doesn't seem to translate into actual production as far as Zulu is concerned and as yet þhe scientists cannot seem to make it work for the current plant design.

No news is pretty much always bad news as far as PREM is concerned and no news as far as enprotec reports that we're supposed to have been received a week ago cannot possibly be good or even average news. George missing his deadlines again or just burying his head in the sand and not willing to admit failure at this juncture?

Well here we are again, another RNS update and another Stockbox interview.

Two slightly contrasting events, the RNS was pretty much a waste of time other than to confirm that the company has no funds and will need to raise before the end of the month in order to switch the plant back on.

The interview on the other hand was quite revealing. Mark was clearly very uncomfortable and you could see he wanted to ask some more probing questions but had been briefed not to.

George's body language basically said everything that we need to know, his responses to the questions were pretty ambiguous and he tended to deflect towards possible future events and reduced costs rather than actual current costings. You can clearly see he is concerned for the future of the company and he's not confident with the options going forward.

Dsymons, are you a client of CMC? That's a very bold assertion you've made about an upcoming heavily discounted placing. If it's true then I hope you haven't made any trades in PREM as that would be illegal. In fact it may be possible that publishing this alleged information, whether true or not, could also be illegal.

We all know PREM are financially in a very difficult situation and George has 2 billion shares available to utilise in order to raise funds or pay back his delinquent loan. So it would make sense that at this juncture he would seek to get some working capital after the unsuccessful trip to China to get further funding from Canmax. If a raise is forthcoming then it will be at a significant discount, possibly around 0.04 or 0.045 which would keep the lights on for maybe 3 weeks at most, just enough time to call an EGM.

I'd like to add "idiots" again to that list as it's clear and obvious that Luthee, Botuney and Whywastetime are indeed idiots. Their incessant drivel and perpetual unverified claims of Chinese support are tiresome.

Wullie, I guess it's Friday night and you've been hitting the Buckfast again since lunchtime. I've clearly informed the group that I'm now retired and enjoying my retirement. If I was a nightworker it's highly likely my shift would start at 10pm so I'd be working rather than drinking a nice Rioja.

I don't need to explain the situation PREM is in it's clear and obvious. There won't be a good RNS about funding, George went to China 3 weeks ago and that ship has sailed. Canmax aren't providing any additional funding so George is left with his 2 billion shares to try and raise some working capital and keep the gravy train rolling.

Luthee and Whywastetime have absolutely no idea. Zenith are selling, Acker is right and when those 2 billion have been sold, still around 300 million left, then he will do the discounted raise

Luthee, you're really embarrassing yourself. Once you've learned the basics of what constitutes a buy and what constitutes a sell, you'll be able to understand that when the sells outweigh the buys by 2:1 then there isn't a very active buying profile.

On the plus side for the believers by my reckoning Zenith have about 400 million left to dispose of before George hits shareholders with the 2 billion discounted placing to keep paying his and Brendans wages

Nelly nothing I have said has resulted in the shre price being dragged into the dirt. George Greville Roach has done that all by himself. I'm not sure what lies you think I've told, there's documentary evidence from a credible South African journalist that wages haven't been paid. I have no affiliation with Stark. It's sad that the faithful just cannot see what's staring them in the face, keep the faith Nelly and lose all your money or accept the inevitable and salvage something to invest elsewhere and maybe recover the losses. That's your choice and your decision to make as far as uour PREM investment is concerned.

Unlikely there's any workers on site, nobody works for free and GR hadn't paid the staff in June or July, we all know there's no money left in the bank accounts and he's now maxed out the credit cards on the London and China trips, both of which have failed to yield any additional financial support.

PREM is pretty much done for as of right now. It's merely a matter of time before GR accepts the fate of Zulu and puts it into C&M citing the low Lithium prices as being uneconomical to continue. He'll then raise what he can with the 2 billion headroom he's got through an open offer to keep paying his and a select few wages before admitting defeat and throwing in the towel late in Q4.

It's clear and obvious to anyone with a modicum of intelligence that Zenith still have several hundred million shares to be sold and it's clear and obvious that those shares are being sold at around 0.06p so that PREM don't have to dig into the coffers and make up the difference. What's not so clear is what happens after those shares are sold. The telegramp group would have you believe that news is just around the corner ans Snowking is ramping in the groups with his tales of buying more. He clearly has a sofa with unlimited funds hiding under the cushions.

The facts are plain and simple, so much so that even Luthee and Whywastetime could understand them.

PREM has no money, PREM has not produced Andy product they can sell, PREM has a plant that requires modification and investment in order to get anywhere near to producing SC6.

Anyone buying now is quite frankly just a gambler, it's set up to fail and will fail without investment which clearly isn't coming 2 weeks after the supposed China trip.

As I've said many many times before I'm willing to invest in PREM what I'm prepared to lose. I've previously made a lot of money trading PREM and would be willing to invest a significant amount of money back into the company should the metrics meet my criteria for doing so. However, as things stand PREM is nowhere near an investable company, the chance of bankruptcy and delisting or being taken private and delisting is far too high to make PREM a viable investment opportunity and the Zenith selling and impending raise don't make it a viable trading opportunity.