Member Info for Martinigirl

Nice to see. The TR1 holders along with a couple of others I personally know now holding over 50% of the company

Whywastetime they do have massive debts,

Currently $15 million owed to Canmax at 12% interest and increasing by $4 million every month from now on.

$1 million plus owed to China Zenith which should have been paid in shares from the recentbheadroom increase and hasn't been paid and now he hasn't sufficient headroom to cover half of that debt.

I would note that Snowking is in the group advocating the serious profits could be made. He is indeed making his own book and doing his best to persuade the premmings that this is a great investment and why he and Goozee bought 1000s of millions 4 years ago, they did indeed buy at a very low price, they're now selling to get ass much as they can. Goozeee lost a fortune in our terms on COPL don't let him recoup his losses at uour expense

This is now reminiscent of an Ealing Comedy. George Roach the likeable cad played by Terry Thomas leads DazedandConfused, played by Ian Carmichael up the garden path by taking him to deepest Africa and showing him some rocks he claims are Lithium and fleeces him out of some cash, then along comes Snowking, played by Sid James as Roaches partner in crime to pump up the value of the rocks and persuades Dazed that all is not bad as long as he keeps giving Roach more money until eventually the deception is revealed yet Dazed still cannot believe it and continues to give Roach more and more money until eventually he has nothing left. Roach runs off with the cash and retires to a beach in the Seychelles whilst the big nad Chinese company comes and takes the land leaving Dazed bankrupt and destitute.

Dazed what happens if PREM have no revenue, no cash in the bank and no means to raise any further funds? Do you honestly believe the longstop agreement will be worth anything when the assets are subject to liquidation?

Good morning Nellie, time for me to comment once again. My and other comments on this bulletin board have no material affect on the SP, they serve as a balancing argument against those comments that serve to provide an overly positive viewpoint on what is clearly share that one should have a lot of knowledge about before investing. It's not the quick roadnto becoming a millionaire that Snowking will have you believe, it has had potential to be a reasonable investment, but sadly that potential has passed. Too many historic issues that haven't been resolved, too many current issues that will cost a lot of money and GR who will happily lie to shareholders to achieve his agenda. Snowking knows he's backbramping trying to sell his placing shares

I'm still here Nelly, on holiday in Tokyo and don't have anything to add that hasn't already been said by others. Rest assured I'll voice my opinion when I have something to say

Dykee, thanks for your rant, suggest you go home from Wullies after having drunk all the Buckie and get a good night's sleep. Why invest here if uou have no ambitions to make money or are you determined to bankrupt yourself? Or is it purely altruistic? You must be doing well for yourself and not being a little feeder if you can get away for 4 or 5 days 10 or 12 times a year in your 3 or 4* hotels. I personally prefer the 5* I'm too old to be staying jn hostels and carrying around a rucksack, I've worked hard all my life, I've done the shoestring budget holidays, there were many years we didn't have a holiday at all because we couldn't afford it or work got in the way. Thankfully by being prudent and making sacrifices I can now afford the 5* hotels and first class flights, I've earned the right for these luxuries through hard graft, these things are my reward. Not being on a budget does not mean one cannot immerse oneself into a culture and fully experience the history and integrate with the people of a country, it means I can tip that extra, pay more for that street food, not haggle too much with the trader, donate to charities that help improve the lives of those forgotten by their governments.

PREM won't make you the millionaire you want to be, or the millionaire Snowking suggests you'll become, hard work and sacrifice will make you financially secure and able to enjoy your later years be that in a hostel or a 5* hotel.

Clueless, perhaps if I wasn't attacked I wouldn't fight back. The personal insults etc do nothing for the credibility of the posters. If a person is unable to debate the facts and has to resort to insults then quite frankly they've lost at the first utterance and clearly have no idea about what they've invested in. If those that have lost money had listened to the debate, evaluated the risks stated here, in the non echo chamber telegram group, in the hive telegram group and in other social media posts rather than soak up the rhetoric of Snowking, DEB et al then perhaps they wouldn't have invested or maybe not lost as much.

Gazza4563, I'll gladly admit I wasn't wholly correct with my previous statement. Thankfully George has released the RNS confirming that I was only partially correct and in fact things are much worse than I thought or indeed expected. With just the sorters to replace I thought things were bad for PREMs ability to produce sufficient quantity at adequate grades, now its clear that so much more is wrong and will have cost implications rather than as George had previously suggested just time implications. New sorters required, mill upgrades required, new magnetic separator required, new pumps and conditioning tank required (pumps already purchased) and no confirmation that SC6 has been produced for shipment to Canmax.

Costs are spiralling, debt continues to accrue. The headroom he's got left won't come close to keeping Zulu operational even before he's paid China Zenith what he owes. I'd be expecting the EGM call to be asking for at least 20 billion more shares in headroom, if not more, that's the point Canmax will likely make their move.

PREM will never see a penny from Stark, the process would take years, years that PREM cannot afford. Judging by the content of that RNS, I'd be surprised if they don't raise funds in the next week or so and call an EGM for further headroom. Bankas won't be willing to lend money on the current costings and price for sub standard product. Not looking at all good

I think Snowking has been round at Wullies and drinking the Buckfast.

Same old insinuations. We should have seen an RNS last week after George told Snowking the plant was producing. I may well contact the FCA about this communication and Snowking sharing it within the telegramp group.

Snowking not sure how you can say "more delays" it's all one big delay, fast approaching 18 months of delay.

You and I both know, as does every PREM shareholder that there will not be a shipment in May that will satisfy the prepayment agreement, if they're extremely lucky they might get a dime baggy of SC6 out and call that a shipment.

Canmax are smart and appreciate the ability to own and manage a project 100%, why else would they allow George to continue to accrue substantial debt against a shipment agreement that he has failed to meet. The only options for financing any time in the future are a placing using existing headroom, a placing following an EGM or death spiral CLNs.

Zulu is not capable and will not be capable of producing sufficient quantities of product with the current plant operations, it cannot and will not scale up until the major issue is rectified, the major issue being the sorters. George has clearly stated that the plant cannot be optimised until such time as the feed ore is of sufficient quantity and quality to allow it

Gazza, please enlighten us all as to my proven lies. I don't lie, I have no need to lie, George lies more than enough for all of us. I understand you don't like to read what I have to say, and that's fine, however please use your obvious intellect and challenge my assertions rather than throw childish insists at me. There must be an investment case for company that I'm not seeing. Explain it to me.

Snowking, it's now nearly a week since George's little video, still no RNS on production grades or volumes. The plant is clearly still not producing satisfactory product at grade or in volume. The issues are clearly larger than George has stated preciously. Those hours and days are now weeks and months.

Nelly whether I own 1 share or 1 billion shares I am a shareholder in PREM and have a voting right equivalent to my shareholding, as you do with your shareholding. Is the death spiral financing inevitable? I don't know, what I, you and anyone else looking at PREM know is that the cash is pretty much gone, the remaining headroom is enough to pay the litigant and Goddards for their services. As it stands Zulu cannot produce SC6 in saleable volume. The plant is not yet optimised with several issues, the most serious being the sorters. The sorters should provide the plant with optimum quality ore for processing, instead George is using people to hand feed the ore into the plant. There's absolutely no way that suitable grades of ore in sufficient quantities are being fed into the plant nor will they be until the sorter issues are rectified, which by all accounts won't be any time soon. The company is haemorraghing cash to the tune of $50k a day on mining costs alone, add in all the other costs and that number gets much much bigger. The debt for the prepayment agreement continues to increase with compounded interest at 12%. I'll give it until the end of May before the money runs out and another cash call. I think George will get shareholder support for an increase in headroom but for how much and at what price? $20 million at 0.12? Or maybe lower. He'll need as much as possible otherwise the death spiral financing comes into play and at that point PREM are pretty much doomed. TBH I don't think they'll survive through another capital raise, if they can't get ot working now, it's not going to work, just another care and maintenance project like RHA

Jaguar, I wish you luck and I hope that you're not banking your family future on this. Future production isn't likely in the near future. The recent video from George was a precursor to another raise. The key equipment to get the plant producing viable quantities are the sorters and they are far from being in a position to work.

I'm not shorting this, I've never shorted a share in my life, I consider it to be immoral and should be illegal. That said I don't think you could get the borrow to short PREM in the traditional sense despite there being 30 billion shares in issue, I don't use any of the spread betting platforms so perhaps one could open a short position on one of those platforms.

Jaguar I am invested in PREM, however I feel it prudent to point out the inaccuracies in statements made by the ultra fan cult members here. The worst case scenario is not that pointed out by Nelly. Whilst George has historically never failed to raise sufficient working capital, there'll come a time when the market will not support his requests for funding and then the inevitable death spiral financing will come into play. I'm not saying that will happen but it's imperative that he gets Zulu into production of saleable product in sufficient quantities very very soon otherwise I'm afraid that will be the end of PREM. I think Canmax know this and rather than turn the screws and pile on the pressure, they're happy to allow George to be the master of his own downfall.

Nelly, the worst case scenario is that PREM fails to generate any revenue over the next few weeks / months and is unable to raise further funds to continue as a solvent entity and Canmax get Zulu in lieu of the debts owed to them.

Snowking, if PREM cannot produce and ship within the next 3 to 6 months what will the market cap be? How will George be able to pay the contractors and all the other bills if the company has no revenue? Companies that don't generate revenue can only survive for so long after which, no matter what agreements are in place with the customers, the become insolvent and cease trading. That's when the assets are sold for pennies in the pound to satisfy the creditors. The long stop date and associated agreement is a distraction and an irrelevance.

Bigdaddy, I'll reiterate, I am not nor have I ever been a member of the telegramp group. I'm flattered that you've felt the need to go through my posting history for the last 6 months, you clearly have nothing better to do with your life. Like Ellis, I'd suggest you learn how to read and interpret the English language, at no point have I ever stated I was a member of that group. Is it any wonder that the "cult" are unable to understand what George says in an RNS when they take everything so literally. Perhaps you and Ellis could get together and provide some comfort to each other, perhaps go through all the old PREM rns releases and try and understand what was actually stated against your interpretations and what actually transpired subsequently.

Elliselblow, I don't know how many times I can say this, I certainly cannot make it any simpler in English. I am not in the group, I do not need to be in the group to read the messages contained within the group. If you are unable to grasp that concept then I'm afraid there is absolutely no hope for you to succeed in life.