news to come18 Feb 2020 07:35
Zulu EPO - we've been told that's been submitted and sent to printers by Zimbabwe Govt.....it's Zimbabwe lets hope it this week. It's significant because the land around 200km2 holds a number of minerals including gold, lithium, tantalum.
PREM at moment holds just 3.5km2 of measured Lithium.
The EPO in itself should re-rate the Zulu part of PREM significantly given it will be 57 times Zulu.
Given PREM announced they had the money to satisfy EPO (There is possibly a JV already in place)
RHA - GR had meeting with NIEEF yesterday to discuss the shortfall in electric costs which he has been told NIEEF will pay.
Given NIEEF want to keep their 51% stake we should see additional monies come in over the next month or 2 (its Zimbabwe expect delays).
Import licences for the plant equipment re RNS 28/01 have been submitted.
We should see an update on this by end of month/first week in March.
Once import clearance is in place PREM can process the tailings and open mine with the plant machinery.
We should have news on production within the next month IMO.
Circum - In the recent interview he has stated he should hear liquidity news within the next 2 weeks.
It's out of his hands and i expect further delaystill Stephen Dattels decides how he is going to proceed with Circum.
Once the Circum liquidity event is in place it will still take a few months or so for PREM to get this money.
MNH - I expect part of the money NIEEF provide PREM will be utilised to purchase more of MNH.
I suggested by email to GR to create a vanilla bond instrument to purchase a cash proportion of MNH and to RTO the rest of MNH with additional PREM shares.
I have no issue with further dilution if its used to bring MNH fully into PREM as we would have forward revenue of $80m per year.
However PREM achieve it I expect MNH to fully RTO into PREM by the end of this year as both parties want to achieve this.
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