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Wullie, yes everyone is aware of issues past and this time 12 months ago you were most likely saying exactly the same thing about production and delivery not being too far away. What has changed in those last 12 months? Only the shares in issue now being circa 28 billion. Everything else remains in a non productive state and despite 12 months of fixing, optimising, remedying and being reasonably confident it remains in a non productive state aside from the installation of a few new bits of kit the key to production is the sorters which still aren't working.
I see Snowking back on the ramp trying to get the mug punters to buy more so he can sell. He was back in the telegramp group early doors today and he's convinced some of them to be going "all in" absolute madness risking your financial future on George Greville Roach ability to get this project producing saleable product.
Shark,
1. No rns required for shares to be sold just an rns confirming that they've been admitted to the market for trading
2. Placing shares are forward sold all the time (despite the illegality of doing so and many believe that they were indeed forward sold. I have no opinion either way.
3. If he's using the funds to pay Goddards in cash then the PREM cash situation is even more dire as what's left wouldn't even pay for the diesel required
4. Biztechs summary whilst reasonable doesn't consider some of the issues I've highlighted
main points from the rns today:
1. despite previously being funded to february production, the company is now funded to the end of february (note i don't say to production)
2. they will need more money once (if) production commences - interesting and suggests that george isn't expecting to achieve production of technical grade spod as previously suggested given that grade would provide sufficient income to negate future financing requirements.
3. thickener installation i behind schedule
4. no further non dilutive funding will be available of the plant doesn't produce.
5. the sorters still aren't able to differentiate between black and white
6. george is once again passing the buck for his failure to correctly manage the project.
it's all a bit of a mess really and nothing in that rns should instil any confidence whatsoever into prems ability to produce on time and at the correct grades. this placing allows prem to survive for a few more weeks at best. future non dilutive funding will likely not be available so he will be coming to shareholders sooner rather than later. i'd expect an egm call this week or next tonallow authority to raise the share cap by a significant number. i'm also concerned about the goddard shares that have been returned to the company. recent activities by the prem broker make me think that there's a possibility that some or all of those shares were indeed forward sold into the market and now goddard didn't get the approval from the zim central bank to be paid in shares. if this did happen then a whole ****storm is going to descend on prem when the fca start their investigation, a possible suspension from trading pending the outcome of the investigation which wouldn't happen quickly. how would that affect the cashflow position if the plant isnt producing and there's no ability to raise further funds? prems viability as a company is on the line as i see it. this is literally a make or break 3 or 4 weeks. far more risk than reward just a complete gamble now. red or black, place your bets!!
Gabble, I'm long retired but I am disappointed that you feel the need to disrespect the Royal Navy who's men and women are currently risking their lives at the forefront of a world crisis that has the potential to escalate significantly.
Nelly, clearly you don't understand what a democracy is. Holding shares in a company is a democracy, every share in issue is much like an electorate, each registered shareholder (voter) gets an individual vote for each share that they hold. My 1 share does indeed count, granted it's unlikely to have any jnfluence in the grand scheme of 26 billion (perhaps soon to be much more) shares but it counts.
Ellis, I'll say again I don't need to be in the group to read the messages in there, nor does anyone else. You simply need to understand the nature of the platform. Something a plank can understand but evidently not an Ellis, what's less than a plank?
Nelly, as it stands I have no interest in the share price going up or down, others it would seem do and wish to attempt to manipulate those with whom they have some influence.
I've said it before and I'll say it again, I fully believe that Zulu is a monster asset with massive potential, however I do not believe that PREM under the leadership of George Greville Roach will be able to monetise that asset. I do not believe that they will achieve production in February, I do not belive that they will be able to source alternative non dilutive financing to progress the project beyond its current status. The issues they have are too great and clearly cannot be resolved by the current management team. If George resigns and retires and they bring in a proven mining CEO then I've got £100k which I'll gladly invest
What's also interesting is that in the last interview George said he would be at Fort Rixon yesterday, so i would have expected some social media activity today which hasn't happened.
Lots of things should have happened over the last week from a social media perspective which suggest there are issues.
At deadeyes suggestion I've also emailed George, and like deadeye (allegedly) I don't expect a reply, but perhaps Snowking if you're reading or anyone else with his ear could as why if theres a requirement for hamd sorting the ore and it is as simple as sorting black from white then why can't the sorters do this? Is it realistic to expect a technical grade spod from hand sorting? Is it realistic to expect SC6 from hand sorting?
Just catching up on things. The DeadeyeBeaky telegramp leak scandal is interesting.
The screenshot posted is pretty damning in that Deadeye openly agreed to "leak" information from Madderson. His defence is it was information already in the public domain. I don't buy that excuse, nothing in that screenshot suggests the information was already in the public domain and quite frankly you wouldn't need to collude with an insider to leak something that was already in the public domain. Something very underhand has occurred between Deadeye and Madderson which for whatever reason has been revealed to the telegramp group, perhaps by mistake or perhaps as part of a larger ploy to get the share price up in order to sell ahead of the bad news that they knew was coming. My guess is it was a mistake and the wrong screenshot was shared with the group and not picked up on. There's clearly been some collusion on this "leak" and one should ask the question about what else has happened between Deadeye, Madderson and others, more than likely these "leaks" have happened more than once and ive no doubt certain individuals have profited from the "leaks" to the group that have pushed the price up ahead of the PREM failures over the last 12 months. I say others as it's highly unlikely that this is the act of an individual, its clearly a concerted effort to manipulate a large group of people whom they have a certain amount of control over.
I don't buy the excuses or the pleadings of being in a losing position on PREM, this is straight forward collusion, deception and manipulation from people with inside information to line their own pockets.
I note that the group continue to spout random figures and eye-watering numbers.
Ellis I'm not lurking in the group I don't need to, I can see everything without having to join.
Mugwump, me too, in your more than half century of intensely demanding high end management & dealing with people running the largest organisations & daily stuffing endless new information into your brain did you ever come across a person who couldn't differentiate between black and white? I guess you probably didn't. Now in this age of modern mining technologies with millions of $ being spent on specialist sorting equipment that can differentiate the chemical composition of a small piece of ore and determine if it should go into the mine, how is it that PREM have to call in specialists to get their sorters to be able to sort out black from white? It's so simple you can pay a hundred people (money you cannot afford) to do it and allegedly get technical grade spodume so why can't the "third party or indeed the "oem" manage to get this equipment to do the most basic of sorting processes it's designed to do?
I'd have to disagree Mugwump, clearly you are the one lacking the ability (or as you call it "brain cells") to decipher a George Greville Roach RNS and interview. As for brain cells, given my age and your clear adolescence I've likely lost more than you have and I'll probably throw in knowledge of PREM in that statement too.
Crikey, a mountain of posts to wade through today, most from a newcomer in IKHAN1284 with their insane predictions, a not so good ramper of a stock they clearly know nothing about.
So the much lauded resource statement finally appears and I have to say on first reading it looks fantastic. However when you start getting into the nitty gritty of some of the statements and the figures it becomes less appealing. As for the interview, we'll quite frankly it was George setting shareholders up for a placing, most likely he's going to use the available headroom and get some cash in the coffers to hopefully survive until the end of March when he realistically believes PREM will be in production. Sorters most definitely the biggest issue here if the German Techs can't configure their kit to sort between black and white then what the he'll use are they? I'm sure the Fort Rixon population are lining up outside the Zulu gates for a job sorting Black from White on a conveyor that should feed X tonnes into the mill but will actually feed Y tonnes where Y represents contaminated product.
There's plenty missing from the rns that could and should have been published in terms of the quality of product but George chose not to and once again the nomad refuses to sign off on the rns despite if the telegramp group are to believed, having had discussions over a day or so before release.
As with pretty much every PREM RNS, what it doesn't say is more telling and informative that what it does say. The contrived interviews made me laugh, George clearly not comfortable even with the pre arranged questions. Body language says it all and his deflections were pretty telling.
Nelly I have no need for other Prem investors money, they'd be wise to hold onto their money rather than risk putting mortgage payments into PREM or taking out loans and putting that money in here when the price was 0.9p. Those people need protecting from the charlatans like Snowking, Deadeye, Noel and chunky who would sell their mother's for a smidgeon of a profit at someone else's expense. We all make our own investment decisions but ffs make sure you're aware of all of the risks and pitfalls before throwing any money into PREM. It's Friday now, no news on funding the preferati will tell youbthats great, "wouldn't want to be out of this over the weekend" with boom and rocket emojis. George does like to break bad news after hours on a Friday
Hasiba the mcap is what the market values the company at. Is it too low? Is it too high? Is it just right? Less than a year ago the mcap was over 60% higher than today, at the start of this week where you talk of a 50% rise it was over 70% lower than that. You talk of higher grade spodumene being on the cusp of production. Is it? Anyone can go to the pit, find the purest samples they can see pick them up, take them to the lab and say "do your stuff" the lab comes back and says great news we've got SC7 or SC8. Those same labs reported these potentials back in August 2023 yet somehow the plant couldn't produce those grades and instead threw out bags of talc. Maybe Johnson and Johnson could be interested for their baby powder range of lithium infused skincare products. Sorters have issues which means the talc is still there, hand sorting would be costly, cumbersome and would get nowhere near the required ore into the plant to meet the production targets. It's a clusterfűçķ right now and that's not going to change any time soon. Cash situation is dire and quite frankly I'd be amazed if he got any non dilutive funding at anything like favourable terms that would make zilu viable at $952 costs against current spod prices.
I see the telegramp group are at it again with their attempts to brainwash their disciples.
Snowking was there this morning with lots of inference that he knows something but doesn't quite reveal what it is. Similar to just before the massive drop from 1p when he no doubt sold out on the back of the rise.
Now Deadeye is talking about takeovers and worst of all Lee is saying he has inside information about an RNS being in the system and confirmed by George. If that's the case then George is in trouble with the FCA, telling a shareholder that a regulatory required news item is in the system would be a massive breach of the rules even if he didn't say what the content was. George must already be on the FCA watch list following his failure to disclose his director dealings in a timely fashion so this, if true, would be the final nail.in the coffin. If its not true the it just goes to show how manipulative the telegramp group are.
It's great that some shareholders are finally seeing their holdings back to break even or in profit but there are still far too many with losses they can ill afford who were ramped in by Snowking, Deadeye, Noel and Chucky. One guy is now talking about putting in the lump sum he was going to use to reduce his mortgage. Absolute madness, I've no idea how the preferati rampers can sleep at night after reading all of those posts.
Snowking, George hasn't succeeded at anything he's attempted as far as PREM are concerned, this share price action is pretty much mirroring the RHA action and we all know what happened there, wasn't economical, current costings suggest Zulu could well go the same way.
Right now PREM isn't an investment its a pure gamble, if you don't want to miss out on a 50% drop when the production delay is announced, then hold or buy loads more and let Snowking, Noel, Deadeye and the preferati make their profits. If you're already down 67% from Snowkings predictions of great wealth at 1p then you know who to blame for their blatant actions. Forgot to add Charles Archer into this group of mercenary rampers, trades off of his journalistic reputation. Ramping PREM to 3p when he had sell orders in at 1p, absolutely disgraceful.
Snowking,
What resource is about to come out, certainly not the RUS that GR promised was imminent on numerous occasions, rather a statement on what they're digging to put into the plant.
On the llant, great the mill has arrived and in situ, not so sure about the groundwork though, looking at those pictures I'd be concerned about the positioning of the mountings and their ability to sustain continued operations, that stairway looks like a health and safety nightmare and could see someone killed, now that RNS wouldn't go down too well.
Is a conditional placing being organised?
Is this rise off the back of forward sold placing shares to pay Goddards, shares which are as yet still to be admitted to the market. Did they not get the Zkm Bank approval, is the broker now desperately trying to buy back those shares after being caught out? Will Goddards be required to be paid in cash that PREM don't have?
So many many questions and yet very few answers, just lots of speculation on all sides of the discussion.
Lloydyboy boring it may well be, factual it most certainly is. You cannot deny that enough holes have been drilled and enough results obtained to provide a definitive RUS, uou cannot deny that on countless occasions GR has openly stated ghat the RUS is imminent, yet now he's moving away from that, why did he lie to shareholders about the RUS? Why would the nomad block the release of factual data? Something smells here and as boring as the smell of bill faeces may well be, uou really need to get to the source of it and find out what's causing it so it doesn't continue to pollute the atmosphere. Time for some open and honest dialogue from the company.
The NRS or whatever George called it is nothing more than a distraction, it's an estimate of what is in the hole they're digging out to feed the plant, nothing more nothing less. Given he's had results from god knows how many holes, ask yourselves the question why hasn't there been a RUS? He's got more than enough results back to provide one but as yet has not. The preferati will tell you the nomad is blocking it, why? If the resource is there then why not shout out loud about it? Instead he's choosing to release data on what he no doubt considers to be the best resource they're currently digging. Deflection and deception, tell the pinters what they want to hear, give them numbers that the telegrampers can transpose as a reality across the whole prospect and come up with mind boggling numbers and estimates of future revenue that they can tweet as fact. Laughable really, company is out of money, currently unable to source funds and quite frankly, if they can't produce SC6 by the end of the month one should question their future viability.
Ellis, we have a great life thank you, the houses, the boat, the villa in Spain and the gíte in France make for a wonderful future.
How about PREM