Member Info for Martinigirl

Nothing to see here, just the mysterious arrival of a known pump and dumper, AimTerminator, into the telegramp group spreading mysterious rumours and the sheep are wallowing in the insinuations from the posts. It's hilarious to see, there's going to be some very very disappointed telegrampers very very soon. Snowkings exit pri e must be close now.

Shark I do in fact hold shares in PREM by accident unfortunately as they're in an account I forgot I had some in when I was selling my main holdings on the rise to 1p in anticipation of the usual failure by George to deliver. Been in and out for maybe 6 years now so know the score with George . I see Snowking claiming he allegedly propped up the SP today with an alleged 7% of the buys. No doubt he's convincing the telegramp group that all is good and he's got another dinner with George to ramp the mug punters into buying more ahead of the inevitable raise. Gotta get that SP up then get out before the discount placing. Just for reference, the historic discount is no guide to the discount on future placings. Markets are tough right now and it will be at least 20% discount when it happens

Sir_Stonks, saying "If it hits the teens, I’m a buyer regardless" is a bit of a bizarre statement is it not. Your basically saying as soon as it hits 0.19 you're going to be buying no matter what, even if it continues to drop. You've also alluded to the fact that you think there may be a placing. I believe you're correct to do so. It's a fact that the company is once again cash constrained, George has clearly stated they've enough cash to last until February production (I'm not so sure now we know exactly what the cash burn is). We also know as a fact that the company doesn't have any headroom to raise enough funds to pay back George's loan, let alone pay any future invoices raised by Goddards or indeed to raise any working capital. There will have to be an EGM which I expect to be called for sooner rather than later (2 weeks notice required) and George being George will need to sell this to shareholders ahead of any anticipated need for funds, so imho likely this week or early next week for the EGM to be arranged before month end. How much headroom will he ask for? Main consideration will be the SP at the time and how much cash he thinks he may need. He'll probably be looking for an option of at least £10 million which would equate to around 5 billion shares but looking at how long the previous millions he had lasted he will likely want to double that so I reckon he'll be asking for headroom for another 10 billion.

If (and its a big If, as I'm not convinced he will get the support of Canmax) he gets the headroom, there'll be a raise asap after that. City os being brutal at the moment with discounts and recent raises I've seen have been at anything from 20% to 70% discount and knowing how desperate George will be would suggest at least a 30% discount to the SP at the previous days close so could well be sub 0.1p if there are any delays to the mill getting on site. I believe the mill is due to leave the factory on Monday or Tueday next week so if there's no PR on that happening on time then the sellers will be back as any future rise is reliant on that mill being on site, installed, optimised, running and feeding an optimised plant to produce SC6 by that early February deadline. If that's missed then the SP will be in freefall.

PD101 I don't know what drugs you're taking but you really should stop as you're becoming disconnected from reality.

Next up for PREM will be a call for an EGM to raise the headroom by another 10 billion shares, George will say its prudent as the company is "Cash constrained" but he promises he has "no intention of raising funds at this time" the telegramp group will sing his praises and garner support as, after all, "Snowking has told us all is good and we'll be producing a bazillion tonnes of SC99 by February"

The following Friday, George announces a placing to raise £5 million for working capital at a 50% discount as that was the best he could get from the city, he also throws in the issuance of shares to pay back his loan (always looking after number one) and also to pay the latest Goddards invoices.

"BUT GEORGE !" they shouted, "You told us you had no intention to raise!" Even DeadeyeBeaky is surprised, surely he couldn't have been duped by Snowking yet again? "I'll fire off an email to George today, I've got a free period first thing this afternoon" he tells the telegramp group.

The school day ends and Deadeye is back online " I've had a reply, George didn't lie to us, we all forgot that when he said "at this time" he meant that exact time, a millisecond later he decided to raise so that's OK, I'll get onto X and get some positive vibes out there and when I share it here uou can all like and share too, then Noel can come in later when I'm marking homework and come ip with some great spin angles and if anyone disagrees then we can kick them out"

After all of that there'll be further delays as the "third party contractor" still can't get the sorters fixed and the ball mill is stuck in mud somewhere between Joberg and the Zim border.

Jaguar debate with me, provide evidence that negates my assertions. George has told you there's a placing coming, they're not done at a premium for companies in PREMS position. George has told you the sorters aren't working and he needs the third party to deliver, clearly they're having serious issues as they've been Tring to sort these out for months. Prem will clearly have to raise in the near future but George doesn't want to ruin Christmas by calling for an EGM this month but it's coming early January. The only cancerous thing here is George Greville Roach, he is slowly killing the company and your investment.

Watched the interview and quite frankly it was awful and raises some serious concerns about the future of PREM. If you'll pardon the pun the sorters need sorting and it doesn't look like they'll be sorted any time soon given the phraseology George used and his body language when talking about it. I previously estimated cash burn at circa $300k per month with the plant not running and was ridiculed for such a large number, turns out its actually over 5 times that number in excess of $1.5 million a month, that placing isn't going to last beyond the middle of January (assuming a 2 week Xmas shutdown) so there's definitely an EGM coming for a request for increased headroom, I'd think 10 billion to give him room to keep the lights on for a bit when the delayed production rns comes in Feb. So we're looking at a discounted raise in January (which he pretty much confirmed in the interview) his loan repayment and right now an institutional investor(s) with an iceberg sell in force at 0.23. They're not interested in supporting PREM, they want their money back. Goddards shares hit the market for sale mid January, that's another 3/4 billion plus to churn through. Why would anyone be buying PREM shares right now knowing all of the above?

Gazza that's exactly right. I've spent my working life being right because if I was wrong then people died. I analyse and assess the information presented to me, interpret it and make recommendation on the action to be taken.

Gazza you may live in the world of an Ealing Comedy, I do not. I post it how I see it and to date I don't think I've been wrong. My understanding of the rns wordings has been correct, my reading between the lines about what Geroge hasn't said has been correct and I've no reason to believe that my current expectations are anything other than accurate. Only George can prove me wrong and I suspect we will look back in March and see that I'm not wrong as things stand

Profitjock, surely you have a knowledge of the company your invested in. The placings were not at 0.23 and 0.26, the placing (singular) was at 0.23 the invoices were paid at 0.26.

I'm not short, never shorted a share in my life, and it's highly unlikely you could get the borrow to open a short, a spreadbet possibly but not a short in the true sense.

There isn't a buyer around, if you correlate the "black" trades against the spread at the time they were executed it's clear and obvious that they were sells, delayed publication as per the market rules. The lse algorithm as with all others doesn't know if its a buy or sell when it's printed at the middle of the spread so allocates a black colour, much like it doesn't know a buy from a sell with any other trade. However a bit of common sense looking at the trades around the same time tells you what they are. Anyone with any amount of experience with the markets will tell you the same.

As for production well, that's yet to be seen. As someone has already mentioned the new ball mill should have been on site for installation over the Christmas break, that's clearly not happening, now you need to factor in the logistics, heavy oversized load on poorly maintained unmettled roads in the rainy season. That's a recipe for delay if ever there was one. I'd love to hear your interpretation of the chart as quite frankly PREMs situation couldn't possibly be charted with any accuracy and if you can't interpret a trade as a buy or sell then by golly its unlikely you could produce an accurate chart.

ProfitJock, there's actually a very large seller around who will be around for quite some time. They're happy to accept 0.23p or more for their shares so its placees dumping their shares for tiny profits. Its a shed load of shares to churn through and foolish PIs are allowing for the sell off by continuing to buy. Once they realise what's happening the buys will start to dry up and the sellers will dump quickly. Then come the New Year Goddards will want to cash in for their invoices and no doubt like Stark will just get whatever they can. Starks next invoices due to be paid in cash. Goddards on the other hand have elected to be paid in shares. Where are those shares going to come from?

Call for an EGM will be very soon, how many shares will George think he can get away with asking for? My guess will be around 10 to 12 billion more, he's going to need more cash if he wants PREM to survive into Q2 as there's no way there'll be any production of saleable product in Q1, in fact I doubt the ball mill will be on site before February and any installation, commissioning and remedial works won't completed by the end of Q1.

How supportive will Canmax continue to be come April 2024, they'll have been waiting for over a year for SC6 that George had "every expectation" "every belief" was "confident" they would ship.

It's farcical that anyone vcan still believe PREM under the leadership of George Greville Roach will achieve anything other than further dilution of shareholders to keep his salary and lifestyle

PD101 you really do need a reality check, you've been brainwashed by George and Snowking

PD101 it will never get to the stage where Canmax take an equity share in Zulu, George has at best until the end of Q1 to deliver after which there'll be no money at all, unlikely to have shareholder support for additional headroom and the city vultures will drive a hard bargain when he goes cap in hand and I foresee death spiral financing on the horizon

Acker I am well aware of his wordings in his RNS releases, I am also well aware of the cash constrained position that PREM found the need to raise 2.4 million to hopefully see themselves through to production in February, you agreed that having to pay contractors in shares was because they had no money available to pay invoices in cash. It would be detrimental to the zulu project for George to have bought the Li3 holdings just as it was detrimental on every other occasion he used shareholder money to buy vanity projects such as Circum. Remind me how many times has he raised money for specific reasons and then gone on to use it for some other white elephant such as the continual carrot that is Circum?

Acker it's unlikely PREM have purchased the remaining shares in Li3, they just don't have the cash to do so. That said we all know George has a penchant for irresponsible impulsive purchases so it's not outside the realms of possibility, however doing so would seriously impact PREM overheads which they can ill afford. If it is PREM then I suspect the call for an EGM will be before Christmas and the meeting early January with the inevitable raise (headroom or no headroom granted) shortly thereafter. This imho (if it is the case) will be the final nail in the PREM coffin.

S303 of the companies act refers to shareholders rights to call a meeting.

Nhij your naivety is admirable

Acker I'm not so sure he'll get his money, Canmax not participating in the placing is telling about their relationship. He got the last headroom through by the skin of his teeth and if, as I suspect Canmax are now looking at a land grab then things aren't looking positive for PREM

Elliselblow glad you all had a good night, always good to meet new people with similar interests. My ears weren't burning last night so I'm sure you were very complimentary about me 😅

Looks like the Goddards shares are being forward sold or a very large holder has decided to exit their position, I'm guessing the former, so it's clear they want the cash and don't have faith in George to deliver on the project, they're the mining guys, they're seeing the grades coming out of the ground.

Wolframite, probably be best finding another opportunity for that £30k, mill won't be there on time was supposed to be ex works by end of November and were now 2 weeks into December. It's really time for PREM shareholders to look at the facts and realise that George Roach "expected" timelines are very very different to the real world. Plant won't be operational and producing SC6 in Q1 and the money won't last beyond early February 2024 at best. Its now all about when George will announce an EGM to get the headroom to issue more shares.

I'd suggest that shareholders look at the regulations for adding motions to an agenda for when he does call the EGM. It won't be difficult to get enough support to add a motion to have him removed.

Nelly, as I have previously pointed out, George Roach has told you what the cashburn is, I did the maths. I can categorically tell you that Canmax were not one of the institutional investors, if they were then PREM are likely to be in for a hefty fine for a breach of AIM regulations and not even George Roach is incompetent enough to risk a fine in the hundreds of thousands of pounds.

All that said, none of this detracts from certain facts. PREM as per the rns has a cashburn of at least $300k per month so likely to need an EGM to increase headroom before February. Canmax have yet to determine their position wrt the $1.5 million November repayment. Canmax had first refusal on any raise and didn't participate in this raise at 0.23p, 750 million Goddards shares to hit the market in early January to be sold for whatever they can get, George played a blender getting the 20 day lock in, obviously learned his lesson after Stark sold out. This is going down to around 0.17 or maybe 0.15 within the next 4 weeks. I'm not a financial advisor but I'd be selling anything I held here that was in profit and waiting for February before looking at it again