Member Info for Martinigirl

Snowking, I'd suggest you read what's been written before making bold statements about an individuals mathematical abilities.

I wouldn't be overly reliant on the profit share element of the contract to provide income any time soon as they've got to get to 4000 tonnes a month production before that kicks in, Canmax will likely start to play hardball long before that happens especially if PREM fail to supply anything by the end of Q2.

What tangible data are you basing your best bet of May for shipment? The new piping due to leave supplier by today, installation next week, then optimisation.

There's been no confirmation that the process control issues have been resolved, the sorters still aren't fit for purpose so the plant is still being fed by hand sorted ore which cannot be anywhere near the required tonnage in order for the plant to be fully optimised.

Too many key issues need resolving and one major issue that won't be resolved any time soon.

Yet despite everything he said, he wouldn't invest and who could blame him

Bridgedogg, where has it ever been stated that the equipment for the pipes is arriving on site tonight? Maybe reread the rns and you'll see clearly that it's not arriving tonight.

One has to love a snowking ramp. His well worded insinuations serve a purpose, to drive his own agenda, I'd suggest joining the telegramp group where you'll see similar posts designed to suggest he has knowledge he does not have that he posts to encourage the lemmings to keep buying and support his position.

Snowking, there's no certainty about a 100% rise, Zulu will not produce any SC6 in sufficient quantity in April, it's highly unlikely that Zulu will produce any SC6 in sufficient quantity in May, there's going to be far too much testing and tweaking required assuming that the new pipework and flotation circuit optimisation is completed by month end, which is debatable.

Having watched the recent interviews it's clear and obvious that things are far worse than George is willing to say on camera. Current funding likely to last 4 weeks at most based on known OPEX and historic invoices. Shares need to be issued to cover invoices and failed litigation, along with George's loan, these share issues alone pretty much wipe out all of the headroom George has remaining following his "one two" share issue to his friends. The guy has absolutely no respect whatsoever for shareholders, his contempt exemplified by allowing, yet again (see placings of 15th and 19th May 2023) his mates to get cheap shares to sell. To quote the 19th May RNS, this may sound familiar, " Premier African Minerals Limited ("Premier" or the "Company") is pleased to announce, after receiving further institutional interest following the funding announced 15 May 2023, a further placing ..."

He is just letting his mates get cheap shares, he doesn't care one jot for his loyal shareholders, if he did there would have been an open offer at 0.17. He knows the company is failing and is taking whatever he can get to pay his wages.

Snowking knows this, Noel knows this, Deadeye knows this, Hasiba probably doesn't as he / she are clearly brainwashed by the rhetoric.

This company has about 6 weeks left to turn itself around and get into production of a minimum 1000 tonnes of SC6 a month. If they cannot do that within that timescale then quite frankly they become insolvent and Canmax get the land grab they always expected. Shareholders end up with nothing and if I'm honest some of uou deserve to end up with nothing. For the rest of you I hope that you take investing here as a valuable lesson in doing the full and proper research into a company rather than taking the posts of Snowking et Al in here or the bullying of Noel, DeadeyBeaky, Ross etc in the telegramp group as gospel. Do the research, debate with this people and if they boot you from the group then clearly there's an agenda and the investment opportunity should be avoided.

George up to his old tricks again, he did exactly the same thing last year (although he did wait 4 days between raises iirc)

George certainly has no respect for his shareholders. Many believed that the rns yesterday was a precursor to production of SC6 as early as this month, Snowking is suggesting this in the groups. This placing is nothing more than a slap in the face to shareholders whilst George allows his friends to buy cheap shares.

Remember when he was begging for support for the 4.5 billion headroom?

He wrote in the letter "The Board further wishes to confirm that their preferred means of dealing with funding requirements and obligations at the Zulu Project in through the alternative debt funding. Efforts to secure such an alternative are ongoing"

I would suggest that those alternative funding sources are only preferred once they've rinsed and diluted shareholders as much as possible.

Goddards, China Zenith and George's loan still require the issue of shares. Could George manage to get through all 4.5 billion in less than a week? I wouldn't be surprised to see an RNS after close today.

Foe those that are offended by my reference to a 17th Century proverb, I sincerely apologise.

I'll reiterate however, if Canmax are so supportive of George, why did they not use their right of first refusal to participate in this raise or indeed any of the recent raises?

In my opinion they've set out their stall as far as PREM is concerned and are patiently waiting for the right time to turn the screws.

""But Barnabe's day it self hath a night; and this long-lived Order, which in England went over the graves of all others, came at last to its own.

They were suffered to have rope enough, till they had haltered themselves in a Praemunire: For they still continued their obedience to the Pope, contrary to their allegiance, whose usurped authoritie was banished out of the land;" - History of The Holy War (1639) Thomas Fuller

Gazza, the scoping study is a really good read, as part of your detailed research into the company you really should take a look at it. Read what the experts said the plant should look like and compare that to what George commissioned.

Nelly, Stark did indeed design and build the plant, George agreed to their design, despite knowing they had no experience in building a Lithium plant, despite knowing that their design was vastly different to the scoping study that was produced based on the stuff in the ground. George wanted to do it as quickly and as cheaply as possible, the responsibility for the failures lies solely upon his shoulders, he made the decisions, he agreed to a design concept he knew was vastly different from the recommendations and he failed with oversight and management of the contractor. The responsibility for the failures rest solely on his shoulders. He may have put 8 million into the company but he's certainly had pretty much all of that back over the years of failed projects in salary and free shares.

George fails once again, I cannot believe that anyone is actually seeing anything positive about that RNS.

Snowking is doing his best within the group talking of hidden gems such as:

"Ore grade and contained spodumene in the ore fed to the plant is at grades consistently ranging from 1.1% Li20 to 1.7% Li2O"

Sorry Tony it makes absolutely no difference what goes into the plant if what comes out is contaminated way beyond expectations. If they can sell it (which is unlikely) the proceeds might just about cover George's salary for a month.

"Whilst the plant has demonstrated its capability to produce SC6 to grade, it is not able to do so consistently and achieve the desired and required recoveries at present. The reasons include circulation between float cells, resident time in float cells, and "in cell" slurry density. "

The use of the word "include" tell me there's a whole lot more going on that needs to be resolved, a more literary interpretation would be: include but are not limited to.....

The problem is expected to be rectified in the coming weeks. How many weeks, 3, 4 ,6, 10, 12? Vague at best, we all now know what George's interpretation of hours or days means, weeks is most likely several months.

"SC6 will be held back until we have sufficient at grade material to ship to our prepayment and off-take partner."

Those several grammes of SC6 we've produced are staying in the lab.

What an absolute mess this is turning out to be. Placing news has to come this week, I'm expecting a 7am RNS confirming payment to Goddards on new terms, certainly not the 0.26 previously announced, litigant payment and of course George getting his shares back, then the placing announcement at what price? I'd guess at around 0.15, certainly won't be at a premium and I suspect he will have to use the full 4.5 billion headroom to cover all the required payments and give himself enough cash to last until June.

April will not see any shipments and it's unlikely there'll be anything in May since the flotation circuits won't be optimised any time soon so will delay additional optimisation of the plant.

George is pretty much at the last chance Saloon, the future of the company is seriously in doubt right now and if he cannot ship by the end of June then as I see it they cannot possibly survive as a viable entity.

Nelly, George has openly stated that it's as simple as sorting Black from White and that's why he's now got locals hard sorting the ore because those $million sorters can't do the job and haven't been able to from day 1. Is that not a concern that they have to get the OEM in to sort Black from White? Or is it a lot more complicated than that? The plant cannot be fully optimised until all the issues are sorted and the mill running at capacity, George clearly stated that in the Q&A so quite frankly there's nothing to see here right now or any time soon. Sit and wait for the placing, or sell and wait for the placing. Those are your 2 options right now because as sure as eggs are eggs, the placing is coming. You can lose out because of it or trade off of the back of it. I see a trading opportunity ahead the mug punters in the telegramp group will buy into Snowkings rhetoric (whilst he takes the placing) along with Noel, Deadeye and Ross claims but the fact is its an easy trade post placing when the mugs are buying

Pjmcgra, I'm not so sure that all the resolutions will be passed. George wasn't at all confident or convincing in the latest webinar when asked about Canmax support. I've a feeling that they've finally decided that enough is enough. George is over a year late and no closer to shipping SC6 than when Zulu was just bush land. Yes he's built a plant, a plant that doesnt do what it was designed to do and at what cost? His arrogance could well end up costing him the company if Canmax decide to no longer provide support.

Hasiba, you might want to change your Monday alarm time if you're expecting the AGM at 0930

I must say I am surprised that the SP has stayed where itnis following the presentation on Saturday. Market is apathetic to PREM at the moment, no real desire to buy (aside from Snowking of you belive he added another 30 million) or sell. Everyone just sitting on the sidelines awaiting the AGM results. I think if no news tomorrow about issues on the plant having been resolved then there may well be a sell off as it's a risky business holding ahead of the AGM after George refused to comment on Canmax being supportive of the vote

Jono, Dykee has been a very loyal and confident shareholder in PREM, nobody should doubt what he has said, I certainly have no reason to doubt him. The fact he has seen through the bluff and bluster that is George Greville Roach should be telling to all the "faithful" all is not as the preferati would have you believe. This is George's lifestyle company, nothing more nothing less. They will never achieve nameplate production and certainly never achieve an agreed shipment amount. Make no mistake, the Chinese are coming and Zulu along with the EPO are their target. PREM is pretty much done for, George is doing his best to keep his salary coming in but the writing is most certainly on the walls. All you need to do is take off the "rose tinters" as Acker refers to them, take a step back and an objective look to see exactly what's happening here.

He would have to do an open offer to existing shareholders, it could be done at the same price as he would get from the city boys if he chose to do so, it's just scaremongering to say it would be at less favourable terms. Anything that's not taken up by existing shareholders could then be sold to the city boys. This way existing shareholders aren't diluted as much and he still gets his money but would then have to pay Goddards etc in cash rather than shares. He's basically showing his contempt for shareholders who have supported him and believed in what has to date proven to be yet another George Roach failure

They were paid in cash because they didn't want to be paid in shares. That's interesting isn't it! Very telling

Wullie you're spot on PREM the epo potentially worth billions and billions but as you know PREM no longer have a licence to explore that area with no guarantee that it will be renewed.

It's unlikely there'll be an RNS before the AGM (which should actually be an EGM as an AGM is called after the end of year results which are due later) as there's nothing to say other than issues are ongoing, sorters still not sorting, sensors still not sensing, hands still hand sorting, mill still not getting 37 tonnes an hour, issues still ongoing.

Will the vote go through? Of course it will as GR has told the cult that if it doesn't then they're screwed. It would perhaps be better for shareholders to understand more about what GR is asking for. He's essentially asking shareholders to agree to a dilution of their shareholdings to raise funds rather than allow shareholders the option to participate in a future placing on a non dilutive measure, therefore he basically doesn't want to give current shareholders the opportunity to participate in any future placing at those discounted rates so that they can maintain their shareholding as a percentage of the enlarged share capital. He basically wants to give his mates in the city the opportunity to buy at a discount.

To hell with the loyal shareholder base he has, just give his mates a chance to get a cheap placing away. An open offer isn't a bad thing, yes there's dilution but at least existing shareholders get the opportunity to participate.

He's taking you all for mugs and you're falling for it. Call him out, make him offer you, the loyal shareholders the opportunity to buy the placing rather than give it to Snowking or Deadeye on the cheap.

Jaguar, I suggest you read again what I've written, take a moment to digest and understand it and then apologise

Agree a very poor interview, didn't actually say anything of substance yet all the inferences in the telegramp group are hilarious with talk of 100s if not a 1000 tonnes being shipped by month end.

Key points to take away as I see them:

1. Plant running continuously at the moment i.e it's running right but will need to be stopped to get work done on it.

2. Plant optimisation continues, ball mill requires 37 tonnes (I think he said) of ore to go through per hour for back end optimisation to complete - That's not going to happen when the only ore going into the mill is hand sorted, they couldn't physically push that much into the mill by hand in the time required

3. Sorters are an ongoing issue and not likely to be resolved any time soon

4. Relationship with Canmax sounds very strained and judging by his comments and body language I don't believe they're as supportive as many would think.

5. Cash burn is still ongoing and finances are constrained, how many times in the past have we heard the "it's prudent to have the option to raise" that essentially translates as I'm doing a placing at the first opportunity

6. Still no comment on quantity of saleable product produced - nowhere near enough

To many "hopeful" "believe" etc and too much of not answering the questions being asked rather twisting it around to say what he wanted to say.

Will be interesting to see what happens come the AGM if he gets the required votes for the headroom, if Canmax relationship is as strained as I think it might be a struggle. If he gets the votes then a placing to pay Goddards, George's loan and the litigation will happen immediately. If he's got anything about him he'll have the placing to raise operating capital all set up and ready to be announced at the same time or most certainly that week but at what price? I'm expecting to see a concerted effort to ramp up the SP over the next couple of weeks with more pointless videos and X posts along with Snowking and the gang going into maximum overdrive ramp with afterburner.

If he doesn't get the vote then all hell will be unleashed on the SP as it goes into freefall.

Time will tell, only 18 days to go until the answer to the big questions are revealed.

Dazed you're clearly confused, look at the list of issues in the release, it's not just minor sensor issues (from over a year ago) or a simple hours not days pH balancing problem. They're hand sorting ore, that's clearly inferior and need to exploit a secondary source (at what cost?), putting it into a plant with major issues that require significant remedial works by engineers who were trained by the company they've just got rid of because they couldn't fix the remedial issues. How does that play out. Incompetent engineers train engineers to be competent? Doesn't wash with me. Its an absolute omni shambles. You would be out of your mind to even consider this as a viable investment opportunity until after the placing, even then it's most likely a binary play, that's all assuming they can get the headroom they want, if Canmax aren't supportive it's touch and go, after which it's a major problem with major red flag financing on the cards.