Clueless, you are indeed as clueless as your name suggests. Clearly deep down you realise that I'm right and the realisation that Snowking has had you fooled for all this time is making your stomach churn and your knees weaken as you finally understand you've been had.
Jaguar, I'm sure you and many of the other uber positives here can absorb a 30% drop in the SP if the November deadline is missed, many others cannot. You say you're confident George will get this over the line. What makes you confident? Back in February we were told in a tweet that all was good for production by the 14th, George was reasonably confident back then too, roll on to March, April, May, during which George was reasonably confident then all of a sudden something he could never have known happened and we got FM, then when he manages to raise some cash and Canmax give him a bit more FM doesn't exist any more, those months of no production with clear and obvious issues suddenly became unexpected but could be lifted with a few million quid in the kitty.
All is not good at Zulu, that's clear and obvious to anyone with half an ounce of common sense. Unfortunately your rose tinted view or inability to come to terms with what's staring you in the face will ultimately cost you and anyone else holding the same view that's currently in profit. A profit is only a profit when it's banked and until that happens it can quickly become a loss. Anyone that's been in (and out of) PREM long enough should know that it's always best to bank those profits because George will inevitably disappoint.
Jaguar, Gelboy makes a fair point, George did look dejected and tired, this is all taking its toll on him, the pressure on him is obvious. He didn't reveal anything to be happy about but was very telling in that he's under pressure so things aren't all rosy and good at Zulu right now. That November deadline is looming and the fact there's been no production of SC6 confirmed by now suggests that the November deadline will be missed. Having watched it again I agree that the presenter made a mistake about the placing so that's not an issue right now but I've a feeling George will want to raise again in December after that his headroom is gone and it's make or break for PREM, if they can't deliver in December then it's pretty much game over.
Jaguar what would you like to know? RHA failed still awaiting $20 million from a supportive Zim gov, Circum carrot keeps getting dangled, Li3 nothing to say as nothing happening.
That's been passed by the NOMAD so an RNS Monday confirming an additional raise, alternatively it's a deep fake video no doubt by someone who shall remain nameless from the telegramp group to try and get their sell price. If it's real it's a major concern, only subtle hints at "good grades" not "excellent" or "saleable" just "good" George doing his everyone has told me it's OK but being non committal so it's not his fault when it goes belly up. How many times before bad news has George said he "anticipates"
You can't polish a turd and GR is doing his best right now. Brace yourselves for incoming bad news
I'm confused,
PREM "is an emerging Tungsten producer from the RHA tungsten mine" ???
"It's raised 600 thousand pounds to strengthen its balance sheet"
Jeez George I knew uou were strapped for cash but to burn through £9 million plus and need another £600k is a bit much.
I guess the famed RNS on Monday won't be about SC6 but another 6, a £600k raise. Where's the cash to pay Canmax in November?
I do love the insecurity of certain individuals here who feel the need to insult a woman who holds / has held a position of authority over men.
The truth hurts, that's true and none so more than here, there are many who would have you believe that all is good, we still await the Gold_investor RNS that was logged last week, we still await grades despite alleged production for a couple of weeks. I refer you to my previous literary tome, nothing has changed in fact the lack of news suggests now, as it has done historically that all is not well.
To quote Shakespeare "All is not well; I doubt some foul play; would the night were come!"
Hamlet, Act 1, Scene 2. After hearing about the Ghost, Hamlet suspects foul play. This the revelation of events to come.
It doesn't end well for Hamlet and I suspect it won't end well for George and PREM holders
The post market DMA trades were hardly impressive. Nothing to see here right now. Snowkings appearance would suggest it's ramp time ahead of the Friday deadline for production confirmation. No social media posts, no rns, it's not looking good and the rns for the $1.5 million payment is getting closer. Can PREM afford that?
Everything you need to know is out there, you just need to be willing and able to deep dive far enough to get hold of the information. For example, the identity of the Guernsey acquisition was available for all to see if you were prepared to do the work and find it. The same goes for what's happening now. Unfortunately I don't have the money John Hill and Marcus Alder have to build a 3% stake but I'm sure they've done the research I've done and that's why they've taken yhe positions they have and been required to make the TR1 announcements
Nelly, if (when) the targets are missed there are indeed payments due to Canmax, payments that PREM cannot afford with the current cash burn. They can probably get away with a payment in November, but then the shareprice will likely be 50% lower than now, missing December will likely require a further raise to keep the lights on so you're looking at a raise around 0.15 at that time (if required). With his track record of 100% failure to achieve anything profitable for PREM, can you trust George Roach to get Zulu into production without the elements of the plant that anywhere else would normally be in place?
Https://youtu.be/wq5scZ4rYFY?si=XKTDQB4647ie3QA-
Watch the section on Thickener and how George admits its normally required but they thought they didn't need it.
Looks increasingly likely that the Zulu plant has been done as cheaply as possible, omitting stages that would normally be required but they thought they could get away with it and didn't.
This project has been managed poorly right from the start and as culpable as Stark appear to be I'd suggest that George has decided what would and would not be part of the original plant and Stark have built what he wanted with the budget he had at the time. It's been Chad Valley from day 1 and isn't likely to get any better any time soon.
Newly, PREM haven't been capable of producing anything near SC6 quality spod and I don't believe they'll be producing anything near SC6 quality spod any time soon (if at all).
They didn't feel the thickener was necessary in the original circuit as they believed that they could produce SC6 without it, clearly that wasn't the case which is surprising when GR has admitted on video (the post placing interview with Mark "leading questions" Fairbairn) which begs the question why wasn't it installed in the first place and the additional question of why isn't it going to be installed until Q1 2024 post arrival of the ball mill?
Does George honestly expect to produce saleable grades of SC6 without the kit he has openly stated is normally required to do so?
Hang onto your hats folks this isn't looking good at all for November or December at which point he'll need to raise to keep the lights on and it's likely the thickener won't be arriving as they won't have the cash to pay for it.
Good Old George, he's really managed this project well.
Pingu, if the plant's been up and running for a week I'd be concerned that there hasn't been any announcement that SC6 has been produced. The plant hasn't been up and running for a week. Some ROM ore was fed into the newly commissioned mill which they are optimising. Prem isn't producing anything right now, they're recommisioning the plant in the hope that they can produce 900 tonnes of SC6 which they can ship by the end of November. Personally I reckon they've a better chance of producing Cheese Sanwiches than they have of getting 900 tonnes of SC6 produced and shipped by the end of November
Marcus, nothing to do with me. You, however need to learn to be more tolerant of others who's opinions differ from your own. I'm sure your wordplay made you very happy however I take offence at being called a "bint", I served my country as a commissioned officer in the Royal Navy and deserve some respect. Your misogynistic comment does nothing to serve your credibility. Debate the issue, don't insult the person. I haven't resorted to degrading comments about you or any others here, this isn't the primary school playground . My opinions on PREM are well known, and as much as I would hate to agree with Motley Fool, they're not wrong with their analysis. If PREM can't get a minimum of 900 tonnes SC6 shipped by the end of November then their cash position becomes, in the words of George Roach "constrained" and as I've stated before if there's no shipments by Q1 2024 then the company risks becoming insolvent
Elliselbow, I'm sure GR is perfectly capable of ruining everything for everyone without outside assistance
You've hit the nail smack bang on the head there Johnny. If the market believed that Prem will be providing even a smidgeon of a positive update tomorrow, the buys would be flooding in. Instead the usual deafening ilence from George when things aren't going well is seeing those holders who have a bit of sense sell up.
43 minutes to make a decision, does your gut tell you that all is not good and its best to sell or do you believe that not even George Roach could f.u.k this up yet again?
SheikhSaud, I am neither an investor in PREM nor a scorned ex. Given your somewhat misogynistic replies to my posts and your user name I can only assume that you are from a nation that suppresses women. My ex husband was a weak man, who was unable to accept that a woman can do a "mans" job as well as a man, often better. He couldn't accept I had a career and couldn't keep it in his pants whilst I was at sea. He paid the price! As eventually will all those that suppress and are disingenuous towards women.
Acker, the RNS will be far from neutral, the forward looking statement may well be neutral but rest assured the details of the accounts will be very revealing. Back in April (I think, possibly March or May) George confirmed PREM were in a precarious situation financially to the extent that he needed to sell shares (I'm still not sure of the legality of the sale of those shares, but that's done now) to provide the company some money. The next rns stated that those funds had been used (to pay off debts, wages etc), so come Friday and the release of the rns we will all be aware of exactly what the cash position was at June 30th and have a good idea about the cash burn for a non functioning plant. It will likely surprise many on here as to how much GR has actually had to spend vs what he needs to spend if the plant ever becomes operational, I don't remember the numbers but how much were the diesel costs per month? Was a crazy number
Everyone here, currently invested or not, knows full well how GR works. Promises of everything being fine and every expectation that all will be good. The PREM PR machine goes into overdrive with video interviews with the workers assuring shareholders that they're on target for 14th February and scripted interviews with Mark and his leading questions all full of assurances that GR has every confidence, then a few more twitter (X) posts showing blokes in hard hats working on the plant etc etc, then there's a stony cold silence, nothing comes before the deadlines, the GR fans come on here preaching about how they're buying more because Snowking told them it's all good, the silence continues, the deadline approaches and passes. "Don't worry!" They cry, "George has told us the RNS is coming, it's just with the NOMAD", yet more silence, no social media activity, nothing but the GR fans arguing that all is good, when those with an ounce of sense can see that the pattern towards disappointment continues. Then it arrives, the holy grail of the promised RNS, unfortunately its released at 16:43 on a Friday afternoon, "PREM provides an update on...." they're not delighted, pleased or even happy, they're just providing an update. The GR fans read with anticipation, their faces turn pale, their stomachs churn as the life's blood is drawn from their bodies as the sudden realisation that GR has once again let them down and the sudden realisation that their investments will plummet in value by 30% or more on Monday morning. "Never mind" says Snowking, I'll be buying more, as he says quietly to himself "glad I took my money off the table and suckered these guys into keeping the price up for me"
Come Monday morning after a weekend of telegram chats the talk returns to "cheap entry" and "I never thought I'd be able to buy at these levels again" as the share price wallows in the doldrums awaiting the next placing and more promises from the Roach
Marcus, let's hope you're not stuck on the ship when it's stranded in Port or even worse sinks