Member Info for Martinigirl

Marcus, can you tell us the current opex? Or are you just going to make up some numbers? What we do know as a fact is that the loan from GR has been used already, this has been confirmed in an RNS. The Placing will be at a discount to the closing price the day before so nobody knows exactly what it will be, my best estimate would be something between 0.32 and 0.35 unless the share price drops into the 0.3s in which case it could be a little below 0.3 but that's just guesswork.

Marcus, you're throwing random numbers into the mix here, how about including the board salaries and payments, that's another £35k a month (taken from the 2022 accounts), what about additional running costs, just because the plant isnt running there are other costs, the generators need to run to supply electricity and each adjustment to the plant will require testing so the plant will run for a period. None of us know what the actual running costs are but what we do know is back in May the company had little or no money and GR has loaned a little over £1.7 million (not £2 million as you state) which the rns has confirmed has been spent.

I don't know why you're so hung up on believing that this forum and what's said here has any effect on the share price, IT DOESN'T, people are selling their shares because they know for a fact a placing is coming, George has already told the market they don't have the cash to see them through to production. Anyone with any sense knows that this placing will be at a discount so if they sell now they'll be able to buy back at a lower price post placing. That's what those in the Pandora group that haven't been offered the placing will be doing

Jaguar, you say you want constructive chat. In order to be constructive shouldn't that chat also include the not so good things? Or is constructive chat just about singing GR praises, after all he's got everything right wrt PREM and we can look back at everything he's achieved over the years with investors money and done a fantastic job.

Jaguar, I'm not giving advice, I'm not qualified to do so. I offer an opinion on the company based on my research and knowledge. You're entitled to disagree with my opinion as I am with yours

Wullie et al, I'm sure that you all like me have a number of shares that you dip in and out of, PREM is on of those for me and had been over the years, I've made money on some tranches and lost money on other tranches, as a result of my time spent invested and researching the company, conversations with George, Brendan, Fuad (a name you'll probably not know) etc I've come to understand how PREM works. This is a public open bulletin board, I'm as entitled to have an opinion on the company as anyone else, I've likely spent more time invested here that most. I will be buying again at some point when I deem the risk to be acceptable, until that time I'm biding my time and pointing out the errors that the likes of marcuspd keep posting.

NOTHING I SAY HERE HAS AN EFFECT ON THE SHARE PRICE.

I think my previous post covers the answer to your question. I'm not currently invested here but held a large number of shares at various points since 2017, so I've got a lot of experience and knowledge here which im happy to share to help those who are so blinded by the posts from the likes of Marcuspd and the so called pandora group who will gladly use their agenda to facilitate their trading, today was a prime example of them trying to spin what was obviously and attempted pump RNS. They know the placing is imminent and want to maximise the price for their sells. My posting history is a matter of record and I'll gladly debate the merits of my other investments on those boards

Confidence has drained not because people sold and can't get back in, that's utterly codswallop. Confidence has drained because of a CEO that cannot be trusted, a CEO that has openly lied to shareholders, a CEO that has failed to deliver on every project he has overseen with the company, a CEO who by his own admission doesn't have a clue what's going on at the plant that was supposed to have been in production for nearly 6 months, a CEO that has potentially breached FCA regulations, market abuse regulations a failed to comply with his DTR obligations.

Confidence has drained because the market doesn't trust George Greville Roach and who can blame them

4 washes takes 4 times longer and therefore impacts on production volume

Marcus nowhere in the rns does it state that the new test was carried out on plant material, so don't bee telling porkies. It clearly states it was done on material from Zulu. Which was ground down and put through the lab tests under laboratory conditions.

As expected GR gets his placing pump RNS out of the way. Nothing to see here that wasn't already known. Labs produced SC6 under lab conditions, Zulu hasn't produced anything of use. George has had these results since 16th June, why choose now to release this information?

20% discounted placing incoming!!

Or it could just be what it actually is, a book correction because the jncorrect data was inputted, the trade is corrected and shows as unknown because the lse algorithm cannot determine if it falls into the buy or sell end of the spread as the spread for the time of the transaction is not known when the correction is made.

Let's look at what other companies have said following placings:

MSMN "The Company intends to use the proceeds of the placing"

VAST "The net cash raised from the Placing will be used for working capital"

Or let's look at what PREM have previously stated:

"Premier intends to use the proceeds of the placing "

The above seems to be standard for PREM fundraising until now.

Anyone that can read and understand the English language knows that there is a distinct difference between "intends to use" and "have used"

"Have used" is the perfect tense which is used to show that an action is complete, in the specific case the money has been spent.

Keep going Sharebel,

I need "wouldn't want to be out of this over the weekend" "MMs short of stock" and "straight to NT for any buys" for a full house

Medjed you're right it was and that's why George is potentially in breach of the Financial Services Act and the Market Abuse Regulations and failing to comply with his responsibilities under DTR

Medjed, it was a loan facility of up to £2 million that was made clear in the 9th August RNS

"Premier and the Lender have today agreed to vary the FAcility by increasing the size of the FACILITY from £1.7 million to £2 million"

The 18 August RNS makes it clear that there wint be any further drawdown of the FACILITY:

"The Board and Lender have agreed that no further shares will be sold by the Lender under the FACILITY"

That's pretty straightforward easily understood English, as are the words "HAVE used"

Medjed it's not a turn of phrase it's very specific, maybe they hoped it would be missed.

Look at the phrase used for the 2021 placing:

". Premier intends to use the proceeds of the placing to assist with further funding of the ongoing works associated at the DFS at Zulu, the exploration of the EPO area surrounding Zulu and general working capital purposes necessary for the Group."

Or the 15th May placing:

"The Placing has been arranged within the Company's existing share authorities. Premier intends to use the proceeds of the placing principally to assist with further operational funding of the ongoing optimisation operations at Zulu and general working capital purposes necessary for the Group."

Or the 19th May placing

"The Placing has been arranged within the Company's existing share authorities. Premier intends to use the proceeds of the placing principally to assist with further operational funding of the ongoing optimisation operations at Zulu and general working capital purposes necessary for the Group."

The money has been spent. Why can't you or Marcus accept that?

Paragraph 4 of the RNS:

"The total proceeds received under the terms of the Facility HAVE been used for general working capital purposes and to meet the ongoing operational costs at the Zulu Lithium and Tantalum Project."

Read the rns it clearly states the funds "HAVE BEEN USED"

Marcus the 1.7mill has been spent already, the rns said so. They're burning through cash that they don't have. Dont forget to add salaries and expenses for GR and all his family. There will be every need for a placing and no guarantees that suitable grade spod will be produced

@shark41 here's the most recent I could find placing at a 15% premium

https://www.lse.co.uk/rns/KOO/proposed-placing-to-raise-approximately-16310million-wom97itj9af3rou.html