Member Info for mattwales

cheap as chips and the market knows it hence the buying. Placing at 0.12 discounts any fall here serious bounce by the afternoon close.

positive: Iron ore price up 6% in a week as Vale is doing everyone a favour by limiting supply in Q1 2020.

https://www.sharecafe.com.au/2019/11/18/iron-ore-edges-higher-despite-weaker-china-data/

https://www.argusmedia.com/en/news/2013272-vale-revises-down-2019-iron-ore-shipment-projections

We havent moved on a 6% rise, price here should be 2.5x that rise presumerably held back by the overhang from the seller.

they've upped operating costs up £50m in a year.

now with their declared we saved costs still £99.3m last quarter with costs will go up single digits.

Do some serious cost cutting and you guys are back in business, till then huge struggle.

as soon as we receive written confirmation of EPO sign off (which the ministry of mines let slip its been signed last month) you wont see these prices. Prem will re-rate.

Everyone moaning people are saying news is imminent, it is imminent.

It's public knowledge all over the Zimbabwe press if you care to look.

hey chesh, I know that sorry I was just trying to get a handle on the value of Cambay.
I did my own research through the RNSs but it stopped 2015 so thats why I asked the board.

Adam was very considerate and came back with a swift reply. As I say it's on my watchlist I'm trying to get funds across.

Heightened risk as per the delay but does look highly undervalued too.

The EPO signoff for Zula is massive, it increases acreage from 3.5km2 to over 200km2.

way undervalued, news of EPO anytime from now on. As soon as that RNS hits Prem will be around 0.4.

billionaire invested in loan notes through Regency Mercantile. Probably our JV partner come EPO sign off.

Bickmaster, I agree with you. I think Stephen Dattels would have been all over this in talks with Prem, not just his investment though loan notes but a JV too.

adam, thanks very much for your very informative reply.

I was toying with buying this at 0.2 or buying Prem at 0.13 and bought Prem as it has a billionaire investor hiding his holding in loan notes and a lot of news coming there too it has a lot of potential to rerate like here.

This is on my watchlist. I thought the RNS communication was a bit poor in all honesty.

They coud have detailed we're extending to end of the months as a number of bidders want to do due diligence or something. Then everyone would have been in the light as to whether to invest or not.

after doing a lot more research I bought into this not just because of the yield but because at current market prices for iron ore they will easily pay all their debt down by 2021.

I was kinda more worried about analysts predictions about iron ore falling for 2020 but if Trump and China come to a deal then steel tariffs etc could be a lot lower. China's production of steel would then rocket.

if I was Stephen Dattels i'd have made an offer for Prem and saved myself paying the Circum money out.

A billionaire is investing here hiding behind his company Regency Mercantile. I'm more interested in his plans.

What is to stop Stephen Dattels using his loan notes to convert and then make a bid for the whole company when he knows EPO has been signed off? That way he takes it private and pays himself the Circum dividend.

follow the billionaire with his loan notes

anyone know how much they paid for the 45% in Cambay?

i'm just thinking of a worse case scenario where there are no bids.

Surely they could use what cash they are owed to offset buying the 55% stake but has anyone an idea of funding requirements?

I mean the billionaire who bought PREMs potash stake (CIRCUM) and gave PREM cash plus Circum shares is invested into PREM. The loan conversion from his company Regents Mercantile will once converted give him a PREM stake.

This guy has enough money to buy PREM directly out but I suspect a similar deal to the one he created through Circum to buy PREMs potash stake.

i.e his company LSC Lithium Corp will suddenly go here is cash and here is a stake in LSC Lithium and lets get this moving.

Stephen Dattels Chaiman of Circum. He's also loaning PREM money through Regents Mercantile.

Stephen Dattels also head of LSC Lithium Corp and possible our JV partner already lined up.

that'll be the week after when this is back below £2 and the shorters have closed out again and gone long. At least u have a range to work with. roughly 170-260

no matter the spin from the company the results are pretty pathetic.