Member Info for Martinigirl

Snowking, I struggle to understand your rationale for considering PREM a valid investment opportunity. You've been a fervent supporter of the company for a number of years, if you're to be believed then you've taken out loans and maxed out credit cards to buy PREM shares, yet you now find yourself in a position where by your own admission you're 99% down on those buys. You cannot possibly envisage a scenario whereby you make a return on what must be £100s of thousands in share purchases. Your opportunity to exit (and I think you did and are now playing others) was on the rise to 1p. Anyone with the intelligence of a Doctor would have at the very least taken out their initial investment at that time yet you still claim to have not sold a single share.

If I were an onlooker looking to buy now I'd be very suspicious of the man that never sold but still keeps buying with his endless supply of money and unfounded claims of potential 10 bags.

I suspect now as I did before when part of the telegramp group you controlled with other proven traders who manipulated the conversation to suit their agenda, Noel, Deadeye Beaky etc who all got caught out, now you're still trying to get those trades done off of the back of the poor mug punters who will believe your "What if" and "I believe" scenarios that have no bearing in fact.

Perhaps you'd care to answer the question of how the raise doesn't meet the company immediate capital requirements to fund the purchase and installation of the secondary flotation unit and also pay the debt to Goddards?

Or are you going to go down the "I believe in a JV or alternative finance route" both of which have failed to appear after every previous raise you've claimed they would. Then there's the contaminated SC4 I'm sure George would have sold it if he could, in fact he did try but failed, why be raise it's contaminated and nobody wants it and there's the additional issue of no export licence so those potential buyers are suddenly reduced in number to being located in Zimbabwe and/or hold their own export licence.

I'm shocked that you're still trying to get away with this. Your knowledge of the company has been proven to be lacking, you have again raised Mutare which is as worthless as RHA and Circum both individually and combined.

I would hope that when you look at yourself in the mirror you are ashamed of yourself for everything that you have done here and in the telegram group that has caused many people to lose hundreds of thousands of pounds, think of the lady I recall who said she invested the money they'd put aside to pay for a house extension, she lost the lot, all on your little cabal feeding false information.

Alert,

Why would mining be imminent? Graham has made it abundantly clear that the project cannot progress without the purchase of the Secondary flotation unit and has made it clear that upon purchase (yet to be completed) it would take around 3 months for the unit to be delivered and installed prior to commissioning. You are envisioning a made up scenario in your head to somehow justify something that doesn't exist and that appears to be the basis for the vast majority of your posts here, wishful thinking rather than cold hard facts.

The Goddards debt negotiation is irrelevant to the question I asked which was ARE GODDARDS CURRENTLY ON SITE?

I believe that they are not for the reasons I specified.

Perhaps I've phrased it badly. There was a question in my post. Gold Duck asserted that Goddards have boots on the ground. My question was do they actually have boots on the ground? They're a mining contractor and whilstbon C&M do PREM have requirement for a mining contractor at Zulu?

I doubt that they do, George enforced a FM with Goddards so he didn't need to pay the retainer, why would Graham have them in site now?

Gold Duck, do Goddards have boots on the ground? I very much doubt it, the plant is on C&M, can't imagine there's a requirement for a mining contractor especially one they owe over 2 million to and have no money to pay

Acker all credit to.you.for.attempting to.manipulate the board traitors style

Acker, as you know, and have previously pointed out here a refinery will not be built any time soon, and from breaking ground to completion will take around 2 years possibly more.

The potential building of a refinery is a mere distraction, the immediate shareholder and company focus has to be on Zulu. If Graham is to be believed and the plant merely needs the addition of the secondary flotation circuit then that has to be the priority along with settling the outstanding debt to Goddards. What should be a concern is the recent engineering audit of the plant which the company continue to keep secret from shareholders despite previously stating that they would share the results several months ago, suggesting that the audit of the plant has revealed some major issues that need to be addressed. If there are major issues then they will also need to be rectified.

Each of these elements If required will come with a cost, the company have previously provided a breakdown of the funds required to get to stage 5, without any remedial work costs arising from the audit report. Those previously notified costs were about $6.3 million (not including normal operating costs post state 5).

Additionally Graham advised that "the prospect of non-dilutive finance options remains when the plant is fully commissioned and operating to design specifications"

So in conclusion they need to raise at least $6.3 million probably closer to $10 or even $12 million (to allow a buffer) which will need to be done through dilutive means (see the above statement from Graham about non dilutive financing).

At the current share price with a 30% discount then we're looking at a requirement for a minimum of 30 billion additional headroom to meet those financial needs before non dilutive financing could be considered.

There's currently 9,489,787,939 so the 30 billion needed including the currently available headroom takes the shares in issue to roughly 39.5 billion or roughly a 400% dilution.

Wow,interesting reading some of the posts here this weekend.

Ackers detailed AI research and Snowkings claims of 100 bag returns.

I'll address Snowkings posts first. The 1000 plus bags already sitting at Zulu are indeed contaminated with Mica and are not of a saleable grade. That was announced by George in a previous RNS but he hoped that the value of the mica would increase at some point in the future. The company have approximately (if George can be believed) 350 tonnes of SC4 which is a saleable product and the value is increasing, however PREM have no buyer nor an export licence to sell the product to the market that would be buyers.

Acker, you flip flop between opinions and at the moment you're on the flip side rather than the flop. What's changed other than the price of SC6? When you were negative on PREM, Zulu wasn't producing, they had the EPO, the Zimbabwean government allowed the export of SC6, now Zulu doesn't produ e, PREM no longer have the EPO and from January 2027 the Zimbabwean government will not allow the export of SC6.

You all agree that PREM requires funding, immediate required funds are in excess of $5 million to cover the flotation plant and the Goddard debt, then there's additional working capital required for the 3 months before the plant is optimised, being realistic that's another $5 million.

Where are they getting $10 million after costs from? There's just over 4 billion shares available to place that clearly the market aren't interested in otherwise Graham would have raised off the back of the recent rise before the interview where he told the world there'll be a discounted placing.

There's no white Knight coming in, no additional agreements with potential offtake partners and a trading house that refuses to be named that still hasn't invested a single penny despite all of those "What if" statements from Toni.

Acker you're wrong to dismiss Jaglith statements about Bailiffs, Graham has informed the market that a writ is in place and the movable assets can and most likely have been seized. How and when they're sold is down to the Bailiffs should PREM not pay what's owed within the timescales allowed by the writ following the seizure of the assets. PREM are in a desperate situation and I honestly cannot see a way out for them. Any white Knight would have come to the rescue by now.

Acker, your theories have some merit and are well presented and logical to a certain extent. However, what you fail to consider as part of your reasoning is that Zulu is not in production and has not produced any saleable product (if the bags they have on site can be sold then there's still no export licence). Now I'll ask you the question. If you were a major business looking to secure a Lithium product of a particular grade and make an investment of between $20 million and $60 million would you look at Zulu? A plant that has an alleged resource that meets your needs but has never produced a product at the grade you require, a plant that has consistently proven itself to be incapable of producing the product you require at grade and volume? Would you take on the debt of a third party who wants to relinquish that prepayment debt to another company?

No business senior executive in their right mind would invest that amount of money into PREM or Zulu, it's a pie in the sky speculative dream that I would have expected others to come up with. If it were on the table then Glencore or should I say the trading house who cannot be named, would have seen that your suggestion was indeed to way forward and given Canmax their exit.

Nobody is going to investvthe money that PREM now requires until such time as Zulu can be proven to produce at grade and quantity. Until that time it will be down to shareholders to bite the bullet and take the dilutive hit. I'm shocked that Graham hasn't used the current headroom to raise funds off of the back of the recent rise. It would have been prudent for him to have done so, has he made a mistake? I think so, despite it being blatantly obvious, in yesterday's interview he told the wider market that there will be a fundraise and the market should now react accordingly and see a continued fall in the share price until that funding is announced. At that point things will reset and once the Goddard issue is resolved and confirmation of the purchase of the flotation plant is confirmed then we can look to move forwards to the end of the 3 months it will take to get the float plant installed and tested. E

AlertRNS, the basis of my opinion was formed on the content of the interview with Graham which was released yesterday in which he clearly stated that the raising of finance will follow the "Normal chain of events".

The rising price of Spodumene has no bearing on the financing or valuation of the Zulu plant and will not until it starts to generate revenue.

As things stand that will not happen unless the company can raise a minimum of $10 million and yes I am being conservative with that number but it gives then enough to last through Q1, the real figure needed is probably closer to $20 million

Toni, did you watch the interview? Graham was clear with his statement that funding would take the usual route. There's no third party funding incoming, the chance of alternative funding is currently non existent, the current "third party" still won't allow their name to be used publicly. You're living in a dream if you even think otherwise. You're an intelligent well educated, professional man, surely you can rationalise what's happening here rather than believing a utopian scenario?

Happy New Year everyone, interesting to see the share price rise whilst I've been away and for those that have made a profit well done, be sure to bank some or all of that profit.

Watched the interview and whilst Graham is, thankfully, quite open and honest unlike his predecessor he is equally uncomfortable and his body language, tone of voice and pauses suggest he is equally unconfident in the project as his predecessor.

What he did make clear, as we all know, is the requirement to raise funds. At no point did he suggest that this funding would come from alternative sources, he made it clear that the dame process as always would happen and would continue going forwards. That process being Utilisation of the current headroom of 4,130,434,883 shares to raise initial funds, and I think it's safe to believe Grahams visit to the UK will be used to get that placing away, as well as visit family. Therefore at closing price today allowing for the usual 30% discount they will be able to raise at around the 0.029 mark which before fees is about £1.21 million or $1.64 million so after fees it's about $1.2 million.

The secondary flotation plant according to the company will cost (along with plant operating costs) $1,415,500 so just over $200k more than they can raise. Add in the "Normal operating expenses" of $1,908,400 that takes us to $3,322,900 we then need to factor in the Goddard debt which is now subject to a writ of execution, that debt which continues to accrue interest was last notifies as approximately $2.2 million.

Therefore total immediate liabilities (including the costs for the secondary plant) amount to $5,523,500 against the ability to raise $1,200,000 leaving a shortfall of $4,323,500.

Now for the interesting but, having a writ of execution means that should PREM raise funds then Goddards could potentially seize that cash, before it's used for anything else.

Graham will have to call an additional EGM (as he alluded to with the "usual process" statement) and he'll need enough shares to cover the $4,323,500 shortfall and also cover additional working capital going forwards of at least $5 million given the stated running costs. Therefore we're looking at around enough shares to cover a raise of about $10 million after costs so around £8 million. Let's assume there's a miracle and he can make that raise at 0.05 then he'll be looking at needing 16 Billion more shares equivalent to about a further 110% dilution, however the reality is the dilution will be much lower so the number will be closer to, if not above 20 billion more shares. Therefore wiping out lth, and anyone buying now.

I'm shocked they've survived 2025 but the numbers above show that they cannot continue as a going concern.

Jaglith, you're getting into an alternative fantasy world to that of Sol and Mugwump. Let's just stick with the facts and some reasoned debate rather than blatant nonesense and wild speculation. I'm sure we would all prefer some logical debate, after all it's not difficult to show how bad an investment this is without the need for blatant misrepresentation and outright lies and potential libelous claims. So let's just stick with the simple, plain, obvious facts based on the released information by the company. Do a little research into the Goddards claim and you'll find a wealth of additional information there which is quite revealing and that will give you a more detailed view of the financial position of the company.

Im heading out to New Zealand in the morning for Christmas with my daughter and grandchildren, and signing off from all social media until the New Year. I wish each and every one of you a very merry Christmas, a peaceful and Happy New Year.

For clarity, the conversion of shares by Canmax in lieu of interest is optional and not automatic.

Canmax elect to do this in order to maintain their voting rights, in real terms its a zero cost option to them and has no bearing whatsoever on their support for the company, it merely allows them to remain as th single largest shareholder in the company and have the voting influence that they need when the time comes.

Other than that nothing has changed, the company as per the previous update will need to raise funds to pay Goddards

I'm struggling to understand why anyone is now buying shares in PREM. Graham has made it clear in the latest RNS that the company is now insolvent and cannot continue as a going concern. The Premmings will have you believe that their is a Knight in shining armour ready to step in and save the day. That Knight is in fact a black Knight that has been waiting, biding their time for the right opportunity. That opportunity is now, the black Knight will reveal their position shortly and check mate will ensue with PREM losing its only asset of any value.

The Premmings live in a special place, their unadulterated love for and loyalty to the company has cost them dearly in financial terms, their inability to comprehend the fact the company has told them directly that their investment is lost is beyond comprehension, they continue to buy in the misguided belief that the company has assets they can sell, that $16 million of debt can be managed with zero revenue and zero chance of raising sufficient funds. I'm amazed Graham hasn't asked for a suspension of trading and equally amazed that the regulator has not suspended trading on the basis of the RNS. It's clear and obvious that PREM is no longer a viable company and the FCA should now step in to protect the Premmings from themselves and the wider investment community from investing in a company that won't survive until the New Year

Wow, what an absolute shocker of an RNS and the numbers tell the whole story.

Ignoring the debt to Canmax, monies currently owed to Goddards and subject to a court order for payment $1.885 million, outstanding salaries and trade creditors $15.035 million, a total of $16.92 million.

Let's be generous and assume that the Goddards debt is included in the salary and creditors debt so a total of $15.035 million.

At current SP not factoring in a discount, they would need approval for the issuance of a further 46 Billion shares just to pay the bills.

Factor in the usual 30% discount and the number goes up to a staggering 66 Billion more shares before they've even considered buying the secondary flotation plant and provided some working capital for those ongoing costs.

Current available headroom would allow them to raise around $1 million

Some here would have you believe the company has assets they could sell to cover the debts. They do not. The only asset of any value that PREM have is Zulu.

There's no way out of this now for the company, no headroom to raise anything close to the monies required to settle the court ordered debt never mind the salaries and other debts.

Administration is now inevitable and should have happened a long time ago but the likes of Sol and Goingtomoon and even Acker to a certain extent, believed the stories they were told and kept George in the lifestyle he had become accustomed to.

They should have requested a suspension of trading, to stop others from buying in to what is now a company that can no longer survive.

Only the foolhardy would attempt to trade this now, big investors have sold out today as they can see the inevitable consequences of the RNS.

Well here we are in the second week of December, the EGM approved the issuance of another 6 billion shares yet the company could only raise a pathetic £500k off of the back of that positive EGM and it took them the best part of 2 weeks to do so.

The city clearly have no further interest in supporting this company, it cannot now survive.

The debts are much greater than the value of the assets, there is now no scenario whereby PREM remains as a business beyond the end of the year. Canmax will without a doubt now call in their debt and claim that portion of Zulu that is secured for them against the prepayment and interest, they'll secure the remainder for a nominal payment.

Shareholders will be wiped out. It's a sad and inevitable fact now, just a matter of a few days or a couple of weeks. I'm sorry for the majority who were sold a magic bean and got just a bean. I'm sure it's been one heck of a ride for some seeing the rise to 1p and fortunes made on paper only to hold on and see those fortunes wiped out.

I'm sure that at some point long after we're all gone PREM will be used in Universities as an example of how some can manipulate people to buy a dream rather than look at the actual reality which would tell you to run as fast as you can.

Those that sold the dream should be ashamed of themselves and I for one hope they haven't profited from their promotion of this obvious failure of a company. They know who they are and we all know who they are those names should be remembered for the future when they return to attempt to fleece investors so they can profit from trading in and out.

I cannot believe nor understand why Graham has not raised funds already, knowing what he needs for the secondary float plant and for working capital. It doesn't make sense for him not to have the placing ready to go immediately after the EGM, get the authority and get the money as soon as you can.

Historically PREM has managed to secure placings a day or 2 after the authority has been granted at around a 30% discount. They need the money so logically they've approached people for the placing but haven't had any success at the price they want. I wouldn't want to be holding these shares when the raise is announced, it's going to be at a very hefty discount that lth will never recover from and current short-term shareholders may never see a return.

As I see it, PREM will not get into production. They have neither the capability nor the finances to do so.

Didn't get to see the meeting live and cannot find a copy online as yet. Feedback I've had from people who watched is pretty consistent in what they saw.

The motions were passed and PREM shareholders can now expect a minimum of 5 billion further shares to be issued in the very near future. These shares will be issued at a significant discount and the share price will drop to a point around the placing price.

PREM dilutions have usually been at a 30% discount. I'm not convinced that Graham will get this one away at 30%, the recent consolidation and known financial constraints the company find themselves in makes me think the discount could be around the 50% mark around 0.045 possibly a touch more bit more likely a bit less.

The company needs to pay for a secondary flotation plant that George assured shareholders was just a supplementary option that would add to the capacity of the plant. George paid for this secondary plant twice before with raises approved by shareholders based on what we can now consider to be lies in official RNS communications.

I and others have spent a great deal of time and effort here attempting to highlight the discrepancies in communications to shareholders only to be abused and ridiculed. I now see that some of those who were against me have now seen the light which is encouraging and I hope that many more can see that light and realise that there is no possible way to profit from investing in PREM at this time. There may be a chance after the placing for a quick punt ahead of the next headroom request but it's a quick in and out and a massive risk. I don't see any potential investment value here above 0.03 as things stand and would have to seriously assess the opportunity at 0.03. It could easily go back towards pre consolidation 0.01 if they need a whole lot more money and shares to be issued

Acker, I said many mins ago when the partnership with Canmax was announced that this could well be a Chinese land grab, for which they're famous, I stand by that statement and it now suits them to let PREM go under, whether or not they're interested in owning and operating a mine, they do elsewhere and can easily bring in a team to operate Zulu on their behalf.

Acker I don't think you'll see a profit from your recent purchases, if you're lucky you'll break even or get out with a small loss.

PREM traditionally has had significant liquidity, which was part of the reason for the going concern statement. That liquidity has now dried up with holders sitting on significant losses not prepared to sell and no new buyers coming into the market willing to buy significant volumes.

PREM is essentially a dead duck until the results of the EGM are released, assuming it's not postponed again, if it is then that's pretty much PREM done.

The EGM result has to be followed by news of additional funding from a secondary source otherwise Graham will have no choice to call yet another EGM for another 10 billion or more headroom.

As I see it now there's only four scenarios in play:

1. Alternative funding with or without a successful EGM to the tune of 10 million to cover the debts and op costs to April 2026.

2. Canmax call in the debt and take a majority stake in Zulu, take it private and fund the remainder of the costs

3. PREM finds an alternative investor willing to pay off the Canmax debt in full and take on the required investment for the plant.

4 PREM becomes insolvent and Canmax take Zulu in lieu of the debt and the remaining assets are sold to pay the creditors.

Aside from scenario 1, shareholders will get nothing,and in ky opinion scenario 1 is the most unlikely of the 4 I can see taking place.