Member Info for mattwales

to be fair to everyone acker there was no choice but to raise the share ceiling or go bust.

added to this everyone was led to believe MNH had doubled expansion and was on course.

It was only after the share ceiling raise we got a RNS stating MNH operating 5250 tons, previous RNSs has around 10000 tons.

Don't you know PREM are going to be the biggest landowners in Africa and when mining doesn't work we'll be stock splitting the Premier African Homes IPO in 2035.

hey £250000 for a dozen interviews/webcasts/presentations a year while he employs people to look through the land for sale and answers the I am a Nigerian prince i have £1bn in gold but its in my land please buy it emails.

If he said he was operating a gold surface mine and was also drilling hills for gold seams to build up an accurate picture on JORC i'd note he had a clue what he was doing. So would everyone else and the SP wouldn't be dwindling down.

Of course we'd need money but not much for the operating a gold surface mine if he was given the equipment. SP rises when he shows everyone gold nuggets he gets a placing away at a higher price.

He will do nada.

alch, plus the 150,000 shares or so still to convert from the $120000 loan.

i did ask someone who was better at forensic/budget accounting than me to summise when the next placing would be given the company paid directors/some others shares in lieu of wages. It appears GR and co we're paid 4 months cash in shares.

If someone could confirm that it would be great.

Have we paid all the debts we had off with that act above? i think we did but if someone could also confirm that.

Without the directors taking shares for cash PREM would have needed a placing late July/early August.

We could all really do with updated accounts to see what operational costs are now ex wages.

He bought a piece of land illegally mined for surface gold.
You'd think he could arrange JCBs from MNH to have a surface operation going on and another way to use the sorter.
But no this clown will pay for security in the day and the locals will work by torchlight because they are smarter than our CEO.

wolf, im not sure i even commented at the time.

i do remember acker clearly telling everyone not to invest though and i didnt listen.

i plonked in for a million shares at 0.345 overall cost at the time....not a huge amount but still watched a few grand go to a couple of hundred.

then somehow ended up with 13m shares approx thankfully near the lows before dumping most of it on the twaddle earlier this year.

i really did think MNH could save PREM as it wasnt run by PREM until we got the production figures.

the only thing that can save PREM is one day in the sun re the EPO no idea when that will be but it looks like it won't be anytime soon.

i now think we could repeat last years low because everyone knows he's looking for assets and we all know they wont be good ones.

The shame is if this was run right it would be a £40-£60m company overnight.

more chance of finding elvis down a mineshaft acker.

every single RNS since i came here at the time i was excited over the ZULU DFS news in 2017/2018 has ended up a non event.

On paper look great assets, reality is harsh

The Board of Premier African Minerals Limited ("Premier" or the "Company") announces that D-Beta One EQ, Ltd, YA II PN, Ltd and Riverfort Global Opportunities PCC Limited....

These guys above are notorious for driving share prices down. They in fact decimated Proxama so much it went bust within months of them getting out.

Until they have converted the SP will continue to fall.

the facts are GR needs to go to restore some credibility into this company.

If he left PREM shares would magically jump up as everyone on the sidelines would decide it's worth a punt because a rudderless company wasn't being led by a complete moron lying on every RNS for years.

It's so bad that PREM immediately should go out and get $2m in funding to get RHA up and running.

Any professional businessman would tell you that's an IMPERATIVE action to bring production up and running at the plant they spent $20m on (if in fact it is PROFITABLE and with this kids spin that's DOUBTFUL).

However. GR is focusing on buying stakes in Diamonds and Gold both will be UNPRODUCTIVE NON WORKING ASSETS.

He bought assets which he said were bought with Due Diligence then announcing illegal gold mine. It tells you everything about how unstable he is.

ok lets have some facts.

we were told for years RHA was on Care and Maintenance, its now come out RHA needs $1.7m to get it up and running as GR allowed it to rust away.

Therefore he has continually lied about processing tailings because he is unable to.

2018 we had an agreement with a company to get ZULU up to DFS they pulled out (if there was a company in the first place).

Roll to 2020 we're told MNH and RHA have prospective offtaker deals.
Why anyone in their rightmind would buy Zimbabwe Tungsten when its ALL over China/Chinese mines beyond me.

Then again the same could be said for Lithium.

GRs delays for years have destroyed any capability to roll out both Tungsten and Lithium as China dealt with shortage of both by opening their own mines.

as at 17th july

Premier now intends to convene a meeting of the directors of RHA to agree a variation to the terms of RHA's shareholder agreement such that it would allow Premier to increase its shareholding in RHA unless NIEEF has remedied the ongoing breach under the revised Management Agreement (as announced on 7 May 2019) by providing the outstanding funding on or before the date of the meeting. NIEEF had agreed to invest US$6 million into RHA in accordance with the recommissioning budget, and after converting the RTGS Dollars funding provided by NIEEF into US Dollars, the current shortfall is US$4,942,382, including the further funding of US$108,806 NIEEF agreed to provide as announced on 7 May 2020).

since these kids are running the printing press fast i fail to see how they cant print off the zim dollars to give us.

lets hope we're not being stonewalled so they can take RHA off us.

https://www.timeslive.co.za/news/africa/2020-06-29-zimbabwe-mining-policy-could-cause-severe-harm-to-south-african-investors/

SD has run for the hills jonjo...probably to do with the increased political drama in Zim.

Neil Herbert is chairman of Otjozondu Manganese Mining (MNH) jonjo.

he would have had to issue TR-1 HOLDING RNSs if he had kept his PREM shares

wolf, maybe he has already and GR turned him down and why SD started to exit on 19th august.

either way SDs move has been a bit fatal for the SP.

He is more an insider than any of us lot so is Neil Herbert who has dumped all his PREM shares he received from his MNH stake hence the lack of TR-1s.

When insiders dont want the shares it speaks volumes.

we still have loan conversion $120000 to go, consultant/ex staff directors paid £175000 approx in shares and Stephen Dattels now under 3%. i presume MNH have dumped given no TR-1 but i bet Li are dumping their $100000 plus of shares too.

trouble we have is too many wanting to get out.

However, it is worrying that insiders MNH (Neil Herbert etc) and Stephen Dattels are dumping their PREM shares

A positive note is everyone of the above converted into PREM shares at a higher price.

All except the loan conversion kids who will be selling short as much as they can before converting.

What worries me is GR has already alluded to wanting stakes in diamonds and gold in his last webinar over a month ago which means we can't be far off buying more non productive assets.

Also the offtake shananigans look very similar to the ZULU DFS agreement from 2018...no one in their right mind would invest in a broken down rusting Zimbabwe mine with Tungsten prices down....makes zero sense.

at least loanholders only have $120000 conversion ex employees/ex directors another $200000 and regent less than 3% to dump. i presume MNH already dumped their shares.

From the directors recent RNS they paid themselves i believe (could be wrong) 4 months of back dated payments.

If someone could confirm this it would help all of us to get an inkling of the actual cash burn and the need for further cash.

ynwa i'll answer it another way EPO sign off market cap of £50-£60m.