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Sir_Stonks, wait a few days you'll get a better price ahead of the placing or wait about 3 weeks and you'll get sub 0.1, your choice.
I see that Ricky and the telegramp boys are dangling a mutare carrot, we know but we're not going to tell you, please buy more shares so we can sell.
Sorry boys but it's not Dattels and you know that so you really should stop with the insinuations to try and manipulate the group.
Have a good night all. Another day closer to the EGM notice.
By the way by my reckoning still another 185 million (give or take) shares to churn through ahead of the 769 million Goddard shares being admitted and sold.
Shark41, If I remember correctly I thought it was about 340 million (don't have my notes to hand as away from home atm). The 100 million sell was warehoused and looking at the volumes took about 3 days to be filled so will be a while longer before the placees have finished selling. Then it will be something similar when Goddard commence the sale of their shares, although I've a feeling that they won't be as patient and will be happy with an average sale price much lower than the 0.26p their shares were given to them at in lieu of a cash payment.
Things certainly not looking great at the moment with the company posting on X about the cicils still being constructed, according to the last RNS they were "substantially complete" and that was about a week ago so clearly not progressing if they're still working on them.
I don't envisage the plant construction being completed within the next 2 weeks, then each element will require to be tested and optimised at each stage which again will take time.
Additionally the sorting process optimisation process is questionable. The telegramp group will sing the praises of the new UV and colour sorters which have been provided by world class suppliers who are on site and working hard to get these sorters functioning. Chief PR ramper DeadeyeBeaky (in charge of the telegramp X ramps) has been posting about the miracle that will be the conversion of the UV sorters to colour sorters making it so much easier to separate the spod from the contaminants. However what DeadeyeBeaky and the rest of the preferati won't tell you is that Colour sorting of spodumene doesn't work. Stark (you remember them, the highly professional outfit that promised the earth and delivered "earth") have stated that it will require a new optical set up (with a pending patent apparantly) so I guess George is going to have to dig deep into the coffers and pay for this new patent pending optical sorting setup, which obviously isn't on site and most likely not an off the shelf product.
Wheres the cash for that coming from? Think we all know the answer to that question.
A decent analysis Biztech, however the elephant(s) in the room that perhaps weren't addressed (and I believe you are a shareholder so perhaps slightly biased) are:
1: The "supportive institutional investors" are selling. Why if they're so supportive?
2: You didn't address the GR loan, future payments to Goddards in shares until production (No headroom to issue enough shares to pay their invoices?
3: Cash position. You previously questioned the cash position but didn't this time, why?
There's more but that's enough for now, Friday tomorrow, maybe the EGM RNS will come out at 16:31 tomorrow, I'll be busy then though, flying up to Glasgow in the morning for a former colleagues wedding in Helensburgh and then a week in Edinburgh, looking forward to the break.
Only of you hand sort and cherry pick the best samples and process them in a lab. Doesn't work like that in the real world and we know exactly how the real world production has gone so far a grand total of Zero tonnes of saleable product produced.
"Supportive" institutions selling their shares, the plant contractor selling their shares, the mining company could well sell their shares. What does it tell you when insiders sell their shares? They have zero faith in PREM to deliver. I'm surprised George hasn't called for the EGM yet, if Goddards or Stark raise an invoice he's screwed, hasn't got the shares left to pay Goddard and hasn't got the cash to pay Stark.
The placees continue to sell now at a lower price but finding it more difficult today as there was less liquidity, they'll have done the maths and know what price they need to at least break even. Expect the SP to be sub 0.2p by close on Friday and if GR calls for an egm before then I expect the SP to drop quickly as PIs sell out knowing the discount placing is incoming.
Dazed, the Goddard shares havent been admitted to trading yet. The sale of those 769 million is yet to come. Placees are the ones currently selling
Daz I can say with certainty that 769 million Goddard shares have yet to be admitted to trading, that's a fact, there's been no rns confirming they've been admitted. When that rns is issued, those shares will be sold into the market. As previously stated by my reckoning there's still 340 million placing shares to be sold into the market. I'll ask the question again, why would you be a buyer right now knowing that all you're doing is allowing some wealthy organisation to sell their position and leave you holding the shares? George has talked of "supportive" institutional investors, so supportive that they can't wait to get rid of their shares. That alone should tell you something.
1.1 billion to churn through
Morning Daz, as I said by my reckoning it's not done, the placees have around 340 million more to sell (unless they are indeed being supportive as George suggested, but the fact they're selling tells a very different story) and then there'll be the Goddard shares to churn through which is another 769 million so all in all about another 1.5 Billion to get through by my calculations
Really? I got an A in my O level maths so I think my arithmetic is pretty good, only a B in my A level pure maths and statistics but I think its worthwhile and valid. I can count
By my count there's still around another 340 million to go plus the 769 million Goddard shares when they are admitted so a long way off yet
Daz, the seller(s) clearly want their money back so have set volumes to sell at set prices, if they can get more all well and good for them they make money. I actually sold all but 1 of my remaining holding today, I kept 1 share just for the satisfaction of remaining a holder and having the perceived right of some to post here.
Questions any shareholder needs to ask themselves is do I buy more and provide the liquidity for the seller to make their money? Do I sell knowing the price will drop and I can buy back when the seller is out? Or do I hold and hope the seller is out soon and the price recovers?
Shark, the MMs are allowed to delay large trades and have a requirement to do so in order to create an orderly market. Its clear that this (these) seller(s) has a lot to offload and anyone buying now is simply allowing them to "get out"
The black trades are just the lse algorithm being unable to determine if its a buy or a sell because it was published at the middle of the spread. Those black trades with a minus are theoretically just book corrections where an error was made.
Daz hhe rounded 50 million 20 million etc are the placees sells go back through the trades, add them up and there's still a way to go to get to the 1 billion plus number they're selling.
Correction to my post below, the RNS refers to the placing shares which are the ones currently being sold and likely will continue to be sold for quite a bit longer. Beggars belief why anyone would be buying knowing full well there's a massive seller in town. You're just providing them the liquidity they need to exit their position. These "supportive" placees aren't as "supportive" as anyone would have you believe.
DazedandConfused, you're either attempting to mislead the board or George is up to his old tricks and "misleading" shareholders.
When the Goddard shares are admitted to trading they'll be subject to an RNS much like the RNS below from when the Stark shares were admitted. To date no such RNS has been published and therefore the shares have not been admitted to trading. Forward selling as you know is illegal and they would get themselves in some very deep and very hot water if they had been doing so and they didn't get the regulatory approval from the Zimbabwe authorities for the share payment.
https://www.londonstockexchange.com/news-article/market-news/aim-notice-14-12-2023/16252167
It was delayed from yesterday
Dazed, the Goddard shares aren't the ones currently being sold, the seller(s) are the ones that took the placing, the 769 Million Goddard shares are yet to be admitted and sold.
Lionsworld it was a sell.
As for Ricky K assertion and other comments I'm reminded of the 2002 speech by Donald Rumsfeld
I'll paraphrase a little:
Reports that say that something has happened are always interesting to me, because as we know, there are known knowns; there are things we know we know. We also know there are known unknowns; that is to say we know there are some things we do not know. But there are also unknown unknowns—the ones we don't know we don't know. And if one looks throughout the history of PREM RNS , it is the latter category that tends to be the difficult ones as George never actually says what he means.
Lloyd what about if he doesn't do a great RNS?
PAS, my time in the Royal Navy taught me great analytical skills, do I recommend firing on a target or not. Threat assessment as a warfare officer is no different to risk assessment with PREM. I do see GR as a conman but I see zulu as a great prospect. I did report him to the FCA after the debacle about his share sale / loan and how they choose to deal with that matter is down to them.