Member Info for Martinigirl

I see that the man in the hat is actually serious about making legal challenge against PREM, George and others with a potential liabilty on behalf of shareholders, and I would encourage each and every one of you that have lost money based on the promises of these individuals in public forums such as this or the telegram groups and also name each of the individuals involved to be named in the potential legal action. I'm sure Steve (the man in the hat) will also be making sure that his legal team look into the specific trading patterns of those individuals in the groups and the courts could consider custodial sentences if deemed necessary.

As things stand I'm amazed anyone is still holding these let alone buying them, although there doesn't seem to be much appetite for buying.

I cannot see PREM surviving beyond the end of 2025, I wouldn't be surprised to see a request for the suspension of the shares ahead of the twice postponed EGM. If I were a holder I'd be selling right now, my holding was subsumed by the consolidation and I don't see value in buying back my previous holding

Hasiba, you're so far underwater that you cannot or plainly refuse to believe what's staring youbin the face. GH has clearly stated that unless they can get the money for phase 5 then a material uncertainty exists as to their ability to continue as a going concern.

With the SP where it is now there's absolutely no chance whatsoever of raising sufficient funds to progress even if the vote goes through, which as things stand is highly unlikely.

The current share price still actually doesn't reflect the true value of the company at the moment. I previously suggested that had the EGM gone ahead and the approval granted then the raise would have been at around 0.06. The rescheduling of the EGM is indicative of a lack of support from the major shareholder Canmax and Grahams request that shareholders continue to support the company. The most telling statement that shows they don't support the motions is "Failure to pass the proposed resolutions may have a material impact on all shareholders and on the assets of the Company."

I think that shareholders are fully aware of the "material impact" but now need to accept that they've been led up the garden path by George Roach.

I note that the man with the hat has organised a discussion group but with what aim? It seems his agenda is one to prepare shareholders for a legal action against the company or individuals associated with the company. That's fine and to be honest there's only George to be held responsible however the NOMAD had a responsibility and could be subject to a legal challenge. I'm more intrigued about the possibility of a legal challenge against certain individual posters here and in the telegram groups and will be investigating the possibility of action against those individuals where they claimed to have certain information which proved to be untrue.

Whatever happens in that respect its clear PREM has no future without funding and I don't envisage sufficient funding coming from any source in the near future.

Join the man with the hats group and get your claim for compensation in the queue. It'll take years and years but you might get 10% of your losses back

One does need to give Snowking credit for yet another attempt to ramp this up with a vague enough what if to suggest it's worth investing here.

Toni, I doff my cap to you and maybe in 2027 I'll salute you, however between now and 2027 there's a vacuum of lithium production, that's to say Zulu won't be producing any.

One does love a trier and Snowking is a trier but quite frankly one should hope he's a better surgeon than investor, does he rely on you tube surgery tips as much as he relies on YouTube investments?

Anyone with an ounce of intelligence (which you you would expect a Doctor to have) can see that the share price here is going to fall below 0.1 most likely to the 0.06 to to 0.07 region when the 5 billion shares are placed on Friday further diluting shareholders to the tune of around 70%.

Unfortunately that cash call won't raise sufficient funds other than to pay the significant debts and keep the lights on. Ongoing operations will require a further dilution which will require another EGM for a request of at leat another 10 billion shares so around another 90% dilution.

That dilution will still not see production.

A fool and his money are soon parted. A fool will buy PREM shares and a bigger fool will buy PREM shares and believe there'll be money to be made.

J̌

Alert, one doesn't need to have been anywhere near a mining project to understand what's being stated in a communication.

I'm perfectly capable of understanding the English language. You keep believing if you want to but your failure to comprehend what you're being told and believe in a miscknceived scenarion your mind has convinced you is true will cost you.

We all make our investment decisions based on the information presented to us and you'll only have yourself to blame when you lose everything with PREM. I'm not twisting words, I'm stating facts as released by Graham, if he had any clue exactly what the problems were then he wouldn't need to bring in an outside contractor to IDENTIFY the issues with the plant that the OEM (who should know their equipment inside out) couldn't find and/or resolve.

Steward, exactly what progress has been made? The RNS makes no such assertion and in fact states that grades have decreased to "up to 4%" and the test runs at both the phase 3 and phase 4 levels have identified issues they haven't been able to resolve.

Any suggestion otherwise is clearly nonsense as Graham has himself clearly stated that those problems exist. The nonesense is in your claim that there is a clear understanding of the issues. If such an understanding existed there would be no requirement to bring in a team to find out what the issues are.

Graham clearly has no idea about what the problems are, the OEM team can't find out what the problems are and their best efforts to remedy the issues have resulted in the production of some SC4. I'm not sure how the raising of around 3 million after costs will help resolve the issues the company faces given they need 6 million to pay immediate debts and costs, then there's George's Loan to be paid in cash (why did he elect to be paid in cash? That's a good question for the faithful) and the raise just doesn't make the grade.

What it does do is pay some more overpriced salaries for a few months but doesn't come close to paying the immediate debts the company should be paying.

Someone earlier suggested that Canmax might be playing the long game and it makes absolute sense for them to allow PREM to put as much cash as possible in and do all the testing to just about get it there and then drop the hammer and tale the whole lot leaving PREM with next to nothing in terms of assets and asking shareholders to dig deep and fund buying a mill and further funding for RHA

It's unbelievable that some here who claim to understand the company are actually buying more shares and considering buying additional shares in the future.

I'm sure there's some psychological condition that defines this but it's bizarre. There's no logical reason that anyone who knows that PREM will be placing 5 billion shares after the EGM, would be buying shares right now. The logical thing to do for anyone holding (even at a loss) would be to sell now ahead of the raise and then (if you believe in the company) buy back in after the raise and get more shares for your money.

It's a bizarre concept to buy knowing you're going to instantly lose money. Maybe it's a PREM thing to buy knowing the company have told you you're going to lose money.

Acker, when does that future start? I'm sure you agree it won't be 2025 and at the earliest late Q1 early Q2 2026, all assuming this findraise and another will be successful.

They certainly couldn't get close without 2 dilutive raises this year.

The interview clearly tells what a complete mess both Zulu and PREM are in.

Graham is essentially bringing in an audit team to fault find what the OEMs have been unable to remedy. If the Original Equipment Manufacturers cannot work out what the problems are despite having essentially had control of the plant for a month or more (and been on site for 6 months or more) what hope does an outside audit team have in 2 weeks?

Then he talks of a 28 day run starting mid November. There's no chance that the audit team will discover the issues and PREM resolve those issues in the 2 weeks he thinks before a test run can start.

Getting the spares and equipment on order and delivered will take time post fundraise. Then remedial works will need to be carried out which again will take time, the 2 weeks hes suggesting it will take is absolute nonesense.

They'll want to schedule the test run for a continuous 28 days. Audit work, funding, delivery of equipment and remedial actions (assuming the audit team can do what the Expert OEMs couldn't do) won't be completed before the end of November. They won't schedule a continuous 28bday run for December, so earliest it could happen will be January.

The plant will not run continuously for 28 days without developing faults etc which will require shutdowns and repair.

There'll be no further progress until February at the earliest.

All of this assumes the headroom increase is approved by shareholders (will Canmax be in favour?), Canmax extend the Long Stop Date and the issues are minor.

Graham is very different to George and appeared to be open and knowledgeable but his body language says he's very uncomfortable and lacking confidence.

He virtually begged shareholders for approval at the end.

Doesn't look particularly promising at all.

Is upon us, so what happens next? At 8am the sharebprice will show at the top of the leaderboard as it opens 10x higher than the close yesterday. Not something to be proud of. As the morning progresses there'll be more and more sells for a couple of reasons:

1. Holders selling ahead of the upcoming EGM and discounted dilution.

2. Holders who've put these in the bottom drawer and not kept up to date who see a 1000% rise and sell thinking they've made a profit.

Either way the SP drops tomorrow and if it's in line with a typical Oiler consolidation, which I expect it would be given non producing mines and oil exploration are pretty similar then I think there'll be a drop to around 0.13p before the EGM announcement and then a relevant further drop depending on the dilution request with the EGM call. When that happens I'm expecting a drop back into the 0.0XX range and pretty much wiping out the consolidation factor.

Jungmana, was it approved in June or was it approved to be implemented by 6th September? That's the question that the board need to answer. Are they acting within the remit approved by shareholders at the 6th June AGM or are they taking it upon themselves to consolidate in breach of FCA regulations? Makes no difference if some, all or none of the shareholders knew about it, is it allowed within the law? I'd suggest it's a grey area with the emphasis on not allowed.

As expected the interim accounts are horrible reading and Graham has confirmed he is indeed the new George with his RNS wording attempting to deflect from the dire financial situation the company is in.

It's pretty easy to extrapolate the current cash situation from the figures and it's clear and obvious there's no money left. The going concern statement as I highlighted yesterday confirms that the company will be required to call an EGM to raise funds ahead of any potential investment from an offtake partner (who still cannot be named and clearly doesn't wish to be associated with PREM right now)

The going concern statement also confirms that the share consolidation will need to go ahead, I'm not convinced that can happen unless another vote from shareholders allows it after the company previously stated it would happen within 3 months of the last GM, but that's one for the NOMAD to decide.

Graham talks of SAMREC and JORC compliant resources and the EPO. All a clever distraction, baffle them with acronyms and revisiting the EPO, they'll believe it because it sounds like progress is being made.

As I've alluded to before and others have mentioned today, the plant has issues that they clearly haven't been able to resolve, this points to the ore body not being suitable for the plant and if you're interested and seriously believe in the company take a look at the scoping study from 2017 which is extremely detailed and provided a plant design based on the ore body at Zulu, then look at what they actually built and decide if the Zulu plant can actually produce the required grade and volume utilising the ore body they currently have at Zulu. Then make a decision on if this is a viable investment knowing that significant dilution, probably in excess of 100% (pre or post çonsolidation) will be required just to fund the company to the end of the year. Ask yourself as a shareholder if you're willing to support such a dilution at the EGM or is it time to say no more and accept that long term holders have lost pretty much everything, but do the decent thing and prevent the company from taking money from other poorly researched punters who have been suckered in by the likes of Snowking.

Be honest with yourselves, take a good hard look at the company and make a decision.

Toni, seems your prediction was wrong, it's been a week and I'm still here and no further progress with Zulu. Your alter ego Goldduck has gone quiet, I take it Graham isn't as amenable to giving you duff information as George was.

The accounts need to be released by 7am Wednesday or suspension looms, I'm sure they'll be released before then but delating release until the last day doesn't bode well for good reading, especially within the going concern statements, if you look back at the end of year statements there were certain caveats within the going concern statement that haven't been met, which would suggest that the auditors won't be able to sign off PREM as a going concern.

Some here seem to believe that Canmax and / or Glencore have been funding the recent testing at Zulu. That is wholly inaccurate, the RNS of 21st August confirmed that some of that funding would be used for the second test, we know that the money set aside for the secondary flotation unit now won't be used for that purpose at this time and therefore it's logical to believe that those monies have been used towards the most recent testing.

What should be concerning is that no updates have been provided on the most recent testing. If there were positive news to release then they would have released it, therefore it's reasonable to deduce that there are still major unresolved issues at the plant which will require additional work.

The accounts when released will clearly show that the company has little to no cash at hand and priority debts of circa $10 million, plus the Canmax prepayment debt with interest, they currently have no means of raising any funds and are therefore technically insolvent. What will they do to address this? The only way forward is to call another EGM and ask shareholders for the ability to raise additional funds, the share consolidation is still on the table but may well require another vote from shareholders.

Tomorrow will be a very interesting day.

I've no doubt Snowking will be back telling us all the scenario outlined above was expected and is nothing new along with how he expects October to be a great month and shareholders should support the further 150% dilution the company will be requesting.

Let's take a look at where things are and put some realistic perspective on them rather than looking at wild speculation.

The current test run will require funding, where are these funds coming from? All previous funds are now exhausted.

The current test run requires mined product to be supplied to the plant. The current sorters and mag sep are deemed inadequate for the job, so it's back to hand sorting and feeding. Hardly sufficient to prove grade and quantity.

Graham has clearly stated in the most recent RNS that the company will require funding, he was actually cleverer than George with his wording so I'll give him credit for that one but it doesn't disguise the fact that the company is in need of money.

I admire anyone that does research into a company before they invest, that's the prudent thing to do to ensure you've covered all the bases and weighed up all the options, understanding the risks involved within the sector and a deep understanding of the company, it's finances legal restrictions etc. Then I see posts saying they've bought 140 million shares because they've researched the new CEO who actually isn't the new CEO. That type of research or perceived knowledge is a very dangerous thing, and claiming that it makes not difference when challenged doesn't make their poor research any better.

The current test run doesn't change any of major plant issues that the company has with the front end end of the process. Volume is what's needed now and that won't be possible by hand feeding the ore into the plant.

Alert you keep on believing what you say, keep on buying at these bargain prices in the unadulterated belief that you'll make gazillions. Meanwhile the sensible people know there'll be a lot more dilution in the near future.

Coldsteel, he was most certainly uncomfortable, as has been pointed out by someone else his hands were shaking not just moving, actually shaking. Did he do a good job, I think he did, as I said before it's was refreshing change from the usual GR rubbish, however nothing has changed and nothing can possibly change without funding. Therefore there will have to be an EGM call and a raise in headroom and a placing or multiple placings going forwards

Alert, I didn't present the RHA visit as anything sinister, just as whatvi said it was withbwhich you agree, a familiarisation visit.

Is the plant being optimised? Those were GRs words and we all know his history.how many times have you visited RHA or Zulu? I've never been, never felt the need or urge to do so, however not visiting either or both doesn't invalidate my opinion, nor would my opinion have changed had I visited either or both, perhaps given the state the company is in, a visit would have reinforced my opinion, kn that we'll never know.

Scare stories about EGMs and placings? Does the company have headroom to issue enough shares to finance ongoing activities at Zulu and pay creditors? No they do not. Does the company have sufficient cash in the bank to cover ongoing activities at Zulu and pay creditors? No they do not. Therefore is it logical to claim that the company needs funding to continue operating at Zulu and pay creditors? Yes it is. How will they raise the funds to do so so? Via a placing. How can they organise a placing? By asking shareholders for an increase in the headroom through an EGM.

It's not rocket science, it's not derailing, it's a simple basic understanding of the company and it's financial requirements in order to move forward.

You may think my opinion is just noise, but look at it logically and you'll see that without the rose tinted spectacles, what I'm saying has merit.

Alternatively just keep throwing all your spare cash into the company, take out loans, max out the credit cards, remortgage the house and buy buy buy if you really believe what you're saying

Sorry, Steward1, nobody is perplexed

Coldsteel, nobody is perplexed, the interview was nothing more than an introduction to the new guy on the ground and him reciting his CV and experience raising funds. By his own admission the plant has issues that will need to be resolved.

Clearly Canmax and Glencore have not yet come to any sort of agreement wrt the LOI and it's clear from what he said that there will be a requirement to raise funds to attempt to progress. Given there is no headroom currently available that has to mean the EGM call will be made soon followed by a placing. The visit to RHA is nothing more than a familiarisation with the assets and taking a view of how that fits with the portfolio of projects. His focus is rightly on Zulu as that is the only project that could possibly become revenue generative but certainly not this year, at best they're looking at Q2 2026 but will need a whole lotnof cash and soon to start making the changes that are needed at the plant.

On the plus side it was refreshing to see an honest open interview but it was clear he was uncomfortable and as usual Mark didn't ask the right questions that we shareholders wanted answers to.

Coldsteel surely a person is a shareholder or they aren't. You cannot criticise a person for not being a shareholder and then change the parameters to having to hold a certain amount of shares before their opinion is valid. Should Snowking consider your opinion invalid because he holds 900 million shares against however many million you hold