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Acker construction of substation at Zulu mentioned in that article so I assume electrification is in process as soon as that substation is in place.

https://www.chronicle.co.zw/premier-gets-epo-for-mat-north-projects/

Well they were electrifying Zulu as per that October release in the Zimbabwe press.

Anyone else think MNH will be our joint venture partner and we'll JV in exchange for more MNH with Stephen Dattels also taking a stake in exchange for cash?

With directors on each board it seems implausible there wont be any kind of reverse into PREM, now or in future.

probably the short crew on here closing and going long.

lenders could insist on a debt for equity swap in view of the lower projected cash flow and/or rights issue.
with such high net debt this is not in companies hands.

Chinese steel inventories lowest since Jan
Chinese iron ore inventories down 15% on last year, Q1 production target 18% down from Vale and Australian rainy season won't save it. Even without stimulus news steel was flying out the door.

https://www.smh.com.au/business/markets/chinese-stimulus-hopes-power-iron-ore-to-largest-gain-in-months-20191210-p53ihs.html

Now over to India

https://www.thehindubusinessline.com/economy/iron-ore-shortage-looming-large-may-push-prices-from-april-2020/article30263915.ece

https://www.hellenicshippingnews.com/india-may-become-net-importer-of-iron-ore-again-from-next-year/

short term its heading to 2p with the dilution.

That's unless they can RNS news out just before the placing.

You can post as much as you want about margins etc but given the history of falling turnover and false dawns with CPX the market doesnt buy it.

$150m free cash flow with declining production and $2.8bn debt....squeaky bum time

everyone heard the same interview....the company are sitting down with Zimbabwe Govt Wednesday to try to get an EPO signature

actually read the lot including page 10 which shows how large this is.

13% of potential strike of 144km drilled with other area potentials thrown in i.e they seriously could go way beyond 38000 tons per month (obviously depending on what is there)

because you cant expand production almost 8 fold overnight it's in a rapid staged development

Read the presentation: page 3 highlights what the equipment bought is and page 5 the high expansion aims of the project

https://www.premierafricanminerals.com/investors/corporate-presentation/download?path=190712%2BOM%2BPreso%2BJuly%2B19_FINAL.pdf

I think 10% of a company with an expected turnover end of year run rate $1.75m per month rising to $5m a month in 12 months on 30% profits is a fine deal.

now its on a death spiral and these monkeys will probably leave the placing till it hits 0.02

so production of steel is actually flying but it's going out of the door faster than they can produce it.

lowest inventories of steel since Jan.

less restricted pollution controls mixed with a so far milder winter thrown in

https://www.drycargomag.com/china-hot-rolled-steel-coil-rises-for-6th-day-as-inventories-fall

nothing is ever set in stone but I believe Q1 we'll experience $125/t prices again for the 62%.

As China will be gearing up Vale have cut production 18% for first quarter downgrading their Q1target twice.....without any more downgrades.

Australian wet season wont cope with extra supply shortage so i cant see rio or bhp etc stepping up.

I think ur forgetting the massive expansion program at MNH since end of June.

Lytham ROC will be over 50%....I did rough calculations came up with 53%.

interest on debt will continue to fall too so more profitability ongoing.

net debt should fall similar to first half so around $60m off

im hoping they can get their 5MW solar plant up by spring to cut that 23% electric cost of their cash costs

absolutely they're along with Stephen Dattels who has worked with both Neil Herbert and Prem previously.
At some stage MNH will reverse 100% into Prem but all imho.

$1m worth of investment is now worth $2m not including the valuation of the manganese asset....and a production runrate of $20m a year by end of this year, expanding into $60m in 12 months time with circa 30% profits in a low price environment.