Member Info for Martinigirl

The next placing is key to the future of the company. As I've previously explained unless they can raise at a premium of around 200% then they cannot raise the funds they need and will be circa £5million short of their own stated funding requirements. The immediate requirement for $200k plus (there's interest to be paid too) is well known and must be paid in order to stop the legal process from the court order. Ongoing working capital is also a concern so imho unless they can raise in excess of $2 million from the placing then there's a serious concern as to their ongoing ability to operate as a going concern.

The lithium price is an irrelevance and a distraction from the facts, it could go up to $100k or drop to $1 but unless Zulu can get it out of the ground and processed to a saleable grade and conform to the Zimbabwean government standards for export then they won't be able to make any money and that will be the end of the company and all shareholder investments, Deacon included.

As we all know the company needs tonraise funds to meet its immediate obligations including the circa $200k payment required to Goddards by 30th April, along with their continued requires working capital to complete the commissioning of the plant.

Original requirement was $13.4 million, raised so far after costs approximately $1.5 million leaving $11.9 million required or approximately £9.8 million before costs

Approximately 26 billion shares remaining headroom so utilising the full remaining headroom will require a raise at around 0.0377p a premium of just over 198% to today's closing price.

Traditionally PREM raises at a discount of around 25% to 30% but let's be generous and say Graham can get the placing away at today's closing price, utilising the full 26 billion shares will raise £4.94 million before costs or about £4.5 million after costs which equates to about $6.1 million.

That leaves them around $5.8 million short of their own required funding figure. I appreciate theve made some savings with the plant redesign but the additional works will likely cancel out the savings at best, at worst will actually increase the required funding.

We're approaching the end of April the company is at yhe very best nearly $6 million short of being able to fund the project through commissioning probably closer to $7million short and has no ability to raise those monies.

How can anyone possibly consider this a viable investment opportunity?

The story is great, the progress Graham has made is great but the maths just doesn't work. You can invest in a story and lose your money or look at the maths and wait for the story to unfold at the point where they have the $7 million shortfall covered. That's the point PREM becomes a viable investment opportunity, not before.

Once they've sorted out the shortfall I'll reconsider my position with a view to putting in the £100k I had previously set aside, but not before that funding issue is sorted out and subject to certain plant commissioning objectives being achieved.

0.016

Coley, is money flowing into PREM? Shares are being bought and sold but no actual money is flowing into the company.

Therein lies the issue. The company requires a certain amount of money as stated in the RNS of 13th February 2026, that amount being $13.4 million. To date they've raised before costs £1.25 million or about $1.7 million before costs so about $1.53 after costs leaving them needing about $11.87 million required to cover the estimated costs until July 2026. So far they've used approximately 9.2 Billion of the 35 Billion headroom leaving around 25.8 Billion shares left with which to raise funds.

Now the maths is simple they need a minimum of £8.75 million after costs or £9.5 million before costs.

Using 25.8 Billion share, in order to raise £9.5 million would require a placing using the full available headroom at 0.038, at the closing price today of 0.0181 that would require a placing of the full amount of shares at a premium of around 210%.

I cannot recall PREM ever raising at a premium in fact it's pretty much always been at a discount of between 25% and 30%.

Let's be generous and go for a 15% discount to today's close, that equates to a raise price of 0.0154 so 25.8 Billion shares raises £3.98 million before costs or £3.6 million after costs which is about $4.87 million leaving them about $7 million short of what they need to complete the works and pay the bills at Zulu until July.

That's being generous with a best case scenario.

There's a lot of speculation about Mr Deacon and the other new TR1, maybe do a little research and look at what major shareholders can do in concert with each other. The scenarios don't work out well for the masses.

English wonderer, I do wonder about your English

One does have to admire Acker for his attempts to impart knowledge alongside his flip flopping on his positions and opinions on fundraising.

Prior to the AGM for the 35 billion headroom increase he was all for small raises to fund the ongoing day to day and was happy with the discounted raises for £500k at 0.0185 on 11th March and £750k at 0.0126 when many of us were saying that was foolish and Graham should have raised as much as possible when the headroom was announced. Now Acker believes Graham should raise as much as possible off the back of this rise? Admitting you got it wrong Acker?

Now the talk is of CLN and mysterious debt for equity speculation based on unknown unquantifiable data from TR1 investments.

It's truly getting more and more desperate.

CLN investments are rarely good and for that reason are known as death spiral financing, if PREM go down the CLN route then that's it.

There's a possibility that these new TR1 holders could be making a move in concert to take the company private. Again not good for shareholders.

The elephant in the room remains finance to complete the installation and commissioning of the plant am as things stand even with the current available headroom the company os about $4.5 million short of the required funding.

Canmax haven't elected to convert interest into shares after the last 2 raises, yet previously they've converted after about 2 weeks.

Food for thought, traders will make a killing right now with correctly timed trades but investors buying even now will see a lot of pain and likely not see a return in their investment, those buying at the top this morning are likely never to see their money back.

Using previous data on cashburn, the company have now utilised the previous raise so will need to raise again ASAP and it will be at a discount most likely between 20% and 30% the question is just how much will they be able to raise? The last 2 raises haven't seen any interest from the city vultures this next one will no doubt have just as little interest.

Speculation as to the identity of Mr Deacon is irrelevant. He clearly took part in the placing buying around £150k of the placing shares. He also failed to comply with his DTR obligations to report his holdings, that's by the by but perhaps relevant in that he was hoping for a quick flip of the shares but couldn't sell them before he had no choice to report.

That may not be the case and a new major shareholder is a boost for the company and did for a short time boost the share price allowing others to exit their positions.

So here we are coming up to 3 weeks after the last placing and at the point where I believe the money will run out and the next pacing will occur.

The warehoused sales have continued to appear and I expect the share price to start to fall at the start of next week ahead of a raise of between 750k and 1 million before the end of the week. Should be around the 0.01 mark

As I previously stated the warehoused sells are now being published as those that took part in the placing are exiting their position. The market is good at hiding what it wants to hide and appear to be what it wants to appear to be.

By my reckoning there are still several billion placing shares outstanding so it could be another week or 10 days before they're all sold. That gives Graham time to raise again before the end of the month to ensure the payment to Goddards, just under 26 billion shares left to place which should be at around 0.01p which should give him enough to survive until mid May depending on how keen the contractors and suppliers are to get their money. Still not enough to cover the commissioning costs though.

As I and others have previously stated the warehoused sales have started. They're clear and obvious against the other trades. Certainly not buys.

I'll wait before commenting further. The declining share price and additional placing will say everything I need to say

Blimey, looks like this hikewithcaramel individual has taken part in the placing and is worried about their money.

I don't need to revisit the maths of the funding, it's clear and obvious they cannot raise what they need.

One does enjoy reading the wild speculation and claims of potential profits, those claims are very Snowking esque, perhaps Toni has created a new account to try and impress us with a lack of maths skills and tell us stories of potential untold wealth scenarios with improbable unsubstantiated fictional scenarios with a realistic knowledgeable appearance to confuse the reader.

You're only preaching to the believers, the premmings will lap it up and if you're lucky give you the liquidity to sell your shares, I've a feeling you won't be so lucky as the market for PREM, as it always does, will see the share price drop down, especially with those 6 billion shares hitting the market today. I've absolutely no doubt Graham will be releasing some George esque type social media posts to try and help but the sad true fact is that the placees who got their shares today won't be seeing a profit unless they were previous shareholders and illegally forward sold their placing shares.

It's hilarious to read the AI generated posts this weekend.

Mugwump, where on earth do you get "$100 million visible profit" from PREM have never ever ever ever ever ever made a profit so that's absolute rubbish.

Graham has told the world the need $13.4 million so about £9.8 million to do what they think they need to do and cover expenses until July.

They had 35 billion headroom available which is fully used would need a raise at about 0.028 to cover all those costs.

They used 3,243,243,244 to raise £500k and pay £100k contractor bills at 0.0185, leaving 31,756,756,756 available to raise £9.2 million so using all the available headroom would equate to a raise at a little under 0.029.

They then used 5,952,380,952 to raise £750k at 0.0126. Leaving 25,804,375,804 shares remaining to raise £8.5 million

In order to raise that money they would need to utilise the full remaining headroom at a placing price of 0.0329p

The share price closed on Friday at 0.0133 so the next raise utilising the full available headroom would have to be made at a premium of around 260% of the closing price on Friday.

Assuming the 26% discount to recent raises, the next placing would be around 0.001p and would raise just under £2.6 million of the required £8.5 million if they used the full headroom available. Leaving them £5.9 million short of what they say they need.

You don't need to be a genius to see that those numbers mean PREM is not a viable investment

Acker starting to sound extremely desperate, wild claims of financing and an inability to determine what constitutes a sell.

Must still be recovering from yesterday's birthday bash.

Lots more pain to come before the end of April, at least 1 discounted placing most likely in the next couple of weeks and then Graham must surely have to call yet another EGM for a headroom increase as the shares he's got available to use don't come close to being able to finance the operation until July.

There may at some point towards the end of May an opportunity to start a trade on PREM but certainly not before, too many fundraises required all of which will be at a discount and the market have gotten wise to the X post ramps, and even then it's a high risk. I'd be looking for an entry price of around 0.005 for a trade entry but that would be determined on the outcome of the EGM and how many shares Graham asks for as there's a distinct chance it could go lower and the project delayed long into Q3 if the company lasts that long.

There you have it, yet another desperate attempt to pump up the share price in the guise of an update, along with a Georgeesque X(formerly known as twitter) post. The RNS was awful, it didn't say anything apart from the fact that Goddards won't be the onsite mining contractor, and who could blame them they're owed the best part of $2 million so unlikely to ever work for Zulu again. With Goddards being one of if not the largest mining contractor in SA, I do question who would be willing to take on the job knowing what they know.

The farce continues and the lack of faith in the company from investors continues to be prevalent, as expected the placees contjnue to sell down and those warehoused sells are appearing, there's still a lot more to be posted but I would expect them to be done by the end of the week if current volumes continue. That gives Graham the weekend to organise the next placing to be announced Monday or Tuesday. For how much and at what discount? Bearing in mind those 35 billion shares were supposed to buy $10.4 million in REQUIRED working capital but as of today including the previous raise can't raise half that amount..

That's why holders are selling, the placees are losing money and wont be happy about that, the contractors won't take shares as payment in the future.

As good as Graham is, and I've previously stated he is a good manager, he's inherited too much of a disaster to be able to turn it around, his reputation won't be damaged too much and he can retire in the knowledge that George left him with too much to do and nowhere near enough capability to raise the money to do it.

On the plus side, George will lose a lot of money its just a shame that shareholders won't be able to pursue him personally for their losses.

Anunnaki, the share price IS down over 11% today.

You're merely spouting absolute rubbish about 0.2p it closed at 0.01825p.

As for the late trades they were some of the warehoused sells I mentioned earlier and I'm expecting to see several more before the end of the week as the Contractor and Placees Co tinue to sell their shares, providing further downward pressure on the share price. Could well see all time low by the end of the week and the next fundraise to pay Goddards etc could well be sub 0.01p

Jaglith, there won't be a placing this week, the placing and payment shares still haven't been sold. As things stand with current volumes it will be at least another 2 weeks before the placees get their money back, it would be unwise for Graham to go to the city again before then. However if things pick up and the mug punters decide to start buying then perhaps we could see another placing around 1st April which would be an appropriate date. As things stand the placees need to sell and they're making a profit right now so I'd expect some big warehoused sells to be posted early this week followed by a drop to around the placing price, possibly lower with the next raise at around 0.15. The big question is for how much? The headroom is decreasing and the available headroom doesn't come close to the required monies. When's the next EGM? Premmings love an EGM, it's always about I'll vote this time but never again, yet they keep on supporting and keep on buying. You can't legislate for stupidity.

I see the warehoused sells from yesterday started to appear today, there will be more over the coming sessions as there's rather a large number of shares to be sold by the placees and the contractor.

As for the Canmax position, they've not made any statement to suggest they support the company, they've merely foregone interest payments in lieu of maintaining their position as required by the offtake agreement. It costs them nothing, it costs PREM shareholders additional dilution and it brings no money into the PREM bank account. They've clearly had issues previously with GH, the previously delayed (numerous times) EGM suggests all is not great and they are having their differences, which is perfectly normal.

Now to the statements on RHA, I'm surprised LSE admins allowed this post to be made, it either clearly breaches the site rules about posting incorrect or misleading information or is illegal in terms of posting inside information. Should an RNS appear tomorrow about an offer for RHA then I'm sure that the LSE admin and the relevant authorities will take a close look at the individual who made the claim along with where they obtained that information.

I don't believe that RNS will be forthcoming and therefore we can consider the individual to be ill informed or just desperate (and from their posting history I'd suggest the latter is most appropriate)

Once the placing churn has been cleared the it clears the path for the next discounted raise where I think Graham may chance his arm and go for broke with the full remaining headroom. A few X posts with pictures à la George always gets the SP up so the current placees who've made a few quid might be willing to part with some more next time around at the same 0.0185 maybe a bit less shoild the market realises the price is currently about 25% higher than it ought to be

Acker, don't worry, normal service will resume shortly when the warehoused sells from the placees and contractors start to be posted, once they've all been sold GH can sort out his next discounted placing.

One does have to admire the ability to get the SP up ahead of the issuance of new Shares. The placees will do well tomorrow when their shares come to the market. I'm not sure how good the late buyer today will feel when their investment is down 20% or more. That's the life os a Premming, they just don't understand how the market works and they still believe. Snowking is a prime example lost 100s of thousands but still thinks RHA will come back online and save the company.

Ather than relying on AI and Google Searches

Perhaps it would be better to do some actual proper research before parting with your cash and investing in PREM.

1. Hw much cash does the company have?

2. How much debt does the company have?

3. Can the company service that debt?

4. How many shares in issue?

5. Is the current share price affected by a recent consolidation?

6.How has any consolidation affected the share price?

7. How much money does the company have?

8.How much money does the company need?

9. How much money can the company raise?

10. Does the difference between 5 & 6 equal a positive number?

11. If it doesn't how much more money will be needed and how will that be financed?

12. How may shares does the company have available to issue to raise funds?

13. What is the percentage of 11 in relation to the total share capital?

14. At what discount will the company issue shares to raise capital?

15. Is the percentage dilution from 11 worth the risk with the cash required?

The answers to these simple investment research questions raise massive red flags. No matter what the price of spodumene or what anyone here will tell you, PREM has little to no cash and the SP will continue to fall especially after Tuesday when the placing and payment shares hit the market.

I see George has been advising Graham on social media with the little X posts. Give them what they want to see and they'll buy the shares.

Don't be a PREMMING, do some proper research and then if you really are willing to take the risk then buy PREM but be prepared to lose everything.

Perhaps it would be better to do some actual proper research before parting with your cash and investing in PREM.

1. How many shares in issue?

2. Is the current share price affected by a recent consolidation