Member Info for Martinigirl

Acker, there's no guarantee that in a few months time Canmax will have a supply of SC5+ and that's their dilemma. PREM and Stark have had ample opportunities to deliver and have failed at every stage despite assurances from GR and GM that all is good at Zulu. Adam2479 Canmax do indeed want Spod, they wanted it 8 months ago when it was supposed to be delivered, they wanted it 6 months ago when GR told shareholders he had no reason to believe they wouldn't produce, they wanted it this month when GR told shareholders all was good and he had even got himself an extra month as a contingency. Canmax have been more than reasonable up until now and with how GR imposed FM back in June it's fairly obvious to me that Canmax will want PREM to start repaying their debt. As Acker has pointed out, there's not only Canmax to pay, Goddards, Stark and George will all be due payments in shares and at a depressed SP level that's going to be a large number of shares. We know that Stark are struggling for cash so they'll sell their shares for whatever they can get, Goddards may not need to cash but could well sell given the uncertainty surrounding PREM, GR won't sell. If what the telegramp group is saying is true then the Goddards and Stark shares alone could be circa £4 million that's a lot of shares to potentially be sold into a market that's unlikely to see a vast swathe of buyers before the end of January (in anticipation of them meeting the February delivery). I can see a drop back into the high teens, low 20s ahead of a call for an EGM and then subsequent raises in the low 10s or worse. It's not looking promising for any upward movement this side of 2024

Acker, you forget that the current deal also includes repayment amounts to satisfy Canmax loan for the plant build. I cannot imagine that Canmax will forego those repayments in cash, they won't take shares as the SP is currently below the 0.32p base amount for share issue to Canmax, its unlikely they'll defer payment as there's certainly no guarantees that Stark will get this plant up and running.

As things stand there'll be no production of SC6 at Zulu before February and even the uber positives here couldn't disagree that given their track record it's highly likely that March will be the earliest that they may be able to produce saleable product. That's pretty much a year later than planned.

I don't buy the fact that GR believes he didn't lie to shareholders, he knows damned well exactly what he said and did and the interview today was no different. No talk of the current cash position of the company and we all know what that means. They're back to being "financially constrained" the payments to Canmax for November and December could well test the solvency of the company, invoices to be paid in shares so likely no headroom to issue more as things stand. GR will need to call an EGM to raise the headroom to give him the contingency he will need to cover January and any additional sunsequent payments to Canmax. Massive dilution on the cards and my guess is its 50:50 at best that PREM survives this, it's all down to how accommodating Canmax are prepared to be and after the FM fiasco I doubt they'll be giving George any more leeway.

Acker this rise is due to traders, as we approach the close it will drop back down as they exit with their 10%

Dazed Canmax aren't getting any shares at 0.32p as you very well know, sounds like you're becoming more desperate with the ramping attempts.

acker i disagree, canmax will now look at prem as an opportunity, george and stark have failed to deliver, canmax will now look at this as an opportunity to secure and develop their own source of sc6, they've got $750 million sitting in cash that they can throw at the project and i've no doubt they'll do it right. the force majeure ****ed them off but they played the game and gave george another chance, he screwed up again so as i see it it's game over for prem by february unless george can pull a very large rabbit out of the hat and get the very large placing away jn the next 3 weeks or so

Nelly do you think that any mining company would do business with Stark after GM behaviour on this project? Reputation is everything in this type of business and GM has done irreparable damage to Stark reputation through his totally unprofessional use of social media and the complete failure of Stark to deliver the project on time and in budget. They've had to sell $2.5 million of shares at a massive discount just to pay for the ball mill. I would seriously question their solvency right now. If he doesn't get sacked or fall on his sword then Stark are likely done for as a company.

Devils_Advocate, the offtake agreement allows for Canmax to be paid in shares at the lowest price of 0.32, what makes you think they'll accept shares at a 25% premium to the closing price today? Would you? I certainly wouldn't, I'd take the cash. Canmax position will be clear shortly, should they elect to defer payment then they're giving PREM yet another chance but it will be the last chance and GR will be on his own to get the finance in place to keep PREM solvent, if he can by some miracle get SC6 production early in the new year then there's a chance PREM can survive, if not then it's a fait accompli and the end of the road for GR and PREM

Wolframite, I haven't needed a crystal ball so far as I could see exactly what was happening and would happen, it was crystal clear. It's pretty obvious exactly how this is going to play out, the question that needs to be asked is can PREM survive much beyond 2023? Will Canmax support them or will they go for the land grab and get competent people in to do the job they need doing? I suspect that GR is going to struggle to keep PREM solvent, I don't believe Canmax will provide further support following the Force Majeure debacle, they've given him chance after chance and he has failed at every stage (and yes I blame GR for his failure to manage Stark).

I would also suspect that Stark have done irreparable damage to their reputation, I'd be very surprised if GM manages to keep his job after his behaviour on social media and false promises

The new mill hasn't even been built yet, it's due ex works end of this month so it's highly unlikely it will get to Zulu before the end of the year. I'd say mid January at the earliest, will then need installing and optimising and the plant will require additional optimisation too. There'll also no doubt be additional issues with the plant as it won't have been running so those gremlins are going to start appearing once more. I very much doubt there'll be any production in January, let alone 4000 tonnes.

The begging bowl will be out soon, if it isn't already, with GR looking to raise the full amount he has headroom for. I would expect Goddards have submitted invoices so they can get their shares ASAP and get them sold, according to the telegramp group they're invoicing around $500k a month, that'll be a lot of shares at these levels. City will negotiate a massive discount on the placing as GR will be desperate to keep the lights on. Call for an EGM early December to raise the headroom by another 15 billion shares or so. I'd suggest that shareholders get together so that you can add a motion for the EGM to ask for a vote on the removal of George Greville Roach as a director of the company, unless of course he does the decent thing am resigns but we all know that won't happen.

You were all warned, Stark clearly knew and started selling at the earliest opportunity. No amount of spin can sort this clusterfuk of a project to make it a viable investment case. Snowking and Deadeye no doubt got the nod hence their twisting the facts in the telegramp group. How could anyone possibly believe anything they say anymore

I saw that attempt to rally the troops too Romanwolf. Even if every single large volume sell over the last couple of sessions was Stark, they still wouldn't have sold out. At best they've churned through half so there's plenty more to hit the sell side yet. I'd be surprised if the managed to get through them all this week.

Goingtomoonufo, Axker is not to my knowledge in the telegramp group, as much as he sways with rampy to derampy positions he does provide balance to the board and should be listened to in order to form a balanced view on PREM.

Has started, the dissenters have been banished and now Noel is managing expectations, one said "Tony / Snowking has disappeared" Noel says "He's around. Probably want to switch off for a bit." Too right Noel, busy counting his profits from "Geofffrey Leak Madderson" telling him Stark are selling at a price after a nice dinner, cigars and Brandy so he got in early and made his money. Noel saying NOMAD may block news. That's right Noel blame the NOMAD the mug punters will believe that something is coming but the NOMAD wants more before release. George not replying to Noels emails so maybe things not too rosy and Noel is dying inside having to defend GR knowing its all going to the dogs. Deadeye doing his best after school homework without research defending George cos he's busy.

This is an absolute cluster Fu*k the telegramp group know it, everyone here apart from maybe Hasiba who is yet to wake up from his deluded hallucinations, knows it. The next news is not going to be good, November target missed, cashburn more significant than expected, Goddards invoices EGM for early December to raise the headroom.

There are no positives here right now, the contractor paid in shares is selling, large shareholders are taking their profits, the telegramp group are in wild disorder banishing people left right and centre. Would anyone really want to be buying into such a manipulated story yhat quite frankly is destined for short to medium term failure?

Yoglwt, ask Starks Geoffrey "Ramptastic" Madderson or should that be Geoffrey "what shall we leak to look good Dead Eye Ollie Beaky?" Madderson, they're selling around 1/2 billion shares so should be able to answer your question

Telegramp group preferati now trying to rally the troops with talk if the new mill being installed right now. They're really scraping the bottom of the barrel to get their exit price. Noel, the mill hasn't even been built yet! George used his usual cautious I've no idea statement "expected ex works and I emphasise Ex works" look up what ex works means Noel and stop lying to the mug punters

Wolf, being a member of the telegramp group has its benefits where else could one discover that Deadeye Beakey and Geoffrey Maddrrson are in cahoots about leaking information? What other information has he shared with the preferati that they're not leaking, perhaps giving themselves an opportunity to sell again ahead of bad news.

Hasiba, market makers don't care about the lowest scenario, they make their money on every trade and don't expose themselves to massive risk by holding large amounts of shares.

I agree this volatility has been expected for some time and it beggars belief why anyone, you included, would be buying shares in PREM, knowing, sorry, expecting the price to drop. Of you expect a share price to fall, why would you buy before it falls? Surely you would wait until it dropped to your expected bottom price?

Plasmerman in order for the new mill to be installed early it would need to be on site early. It's not on site so won't be going in early. If it goes in at all this year it will be during the planned shutdown for 2 weeks in December

Acker it's just a shame that the telegramp group are promoting this as a sound investment rather than the gamble it truly is right now.

Instead the chief rampers "Deadeye Ollie Beakey" "Noel" and " Snow Tony King" speak with the forked tongue of George Roach using phrases such as "I believe" "I'm confident" etc and share screenshots of redacted whatsapp conversations with Geoffrey using phrases such as "that would be good to leak"

Shark if they'd produced any SC6 we would know about it, of that you can be sure, PREM is a very leaky ship.