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ihavenoclue, this chat board should never be used to abuse others as it hinders adult discussion. I did not quote any figure for drilling costs and I also see no mention of the $2.5M for drilling that you quote in any previous RNS. I suggest that your $2.5M for drilling is high given the low cost of drilling in Zimbabwe. Bear in mind that our current drillers are being paid in shares. The AGM is due to be announced very soon and raising the current 7billion share ceiling will no doubt be included. The $5M figure to start the DFS was quoted by ChinaBlue at 13:22 yesterday and I simply requoted this as DFS costs as it seemed a reasonable ballpark figure though again I see no mention of a $5M for DFS in any previous RNS. Your comments about JV assume that there is no staging to exploration and building mines. I said that we could do the Zulu DFS without JV if RHA was sufficiently producing as the nett income could pay for each stage of the DFS. This was PREMs original intention though recently they were looking towards a new study including open pit resource and bringing in a JV partner with particular experience in tungsten mining to run the mine on behalf of PREM. The proposed Zulu JV is substantially for the mining design and build cost that follow on from publishing a proved DFS resource. I suggest that there is enough time between now and publication of this DFS Zulu JV partner(s) and if necessary a JV partner to fund the DFS up to publication. Accumulated RHA nett income could help fund part of the staged build costs via Zulu newco. The more RHA income, the smaller the Zulu JV contribution required. Bear in mind that Tungsten APT prices have also risen since December 2017. We have other assets that may help with later stage funding if they can contribute. Regarding timescales, I do not expect the DFS to take 12 months as you suggest. I expect it to be concluded during Q4/2018 or Q1/2019 if there are any delays in getting the drill core results. Drill core samples are exported to Germany for analysis under a 3-month rolling licence. There are permits and border checks to contend with. Some previous samples had to be repacked though now mitigated by making the drill core size much smaller using RHA laboratory staff under PREMs geological supervision to maintain sample compliance including labelling integrity. The Zulu mine design and build will follow on from the DFS publication and I hope to see the design and build commencing during Q1/2019 by which time we will probably have one new CEO for PREM and another for Zulu Newco.

As we know at present we only have an inferred resource and so that has to be proved. However the $5M funds to progress to a proven DFS mustl first be preceded by the extended drilling programme and core analysis to determine the actual extent of the DFS. My main concern is the Zimbabwean rainy season that begins again in November so we need extended drilling to commence soon, July at the latest. Fortunately drill contractors are easy to obtain so additional contractors could make up any lost time. My other concern is the German analysts who were previously under pressure to give us results. PREM needs to ensure that there are no delays or perhaps engage an additional analysis company. If the resulting DFS is sizable then the estimated $64M to build the mine can be raised though in stages as work progresses, with peak funding requirements of $38M. Each stage adds value to the mine and if lithium prices rise, the proven resource. This should be reflected in the SP as determined by the market at each stage and lithium prices. Any Zulu JV has to be agreed and the initial offers were too low. The delay in securing a suitable JV is because the resource is only inferred. That has to be resolved by embarking on the DFS as soon as practicable. I personally think that PREM may await the sign off on RHA securing 90% ownership and then get back into Tungsten ore production. Once we see ore shipments, all exports secured by upfront payments under Zimbabwean law, then the market may take a favourable view on whether PREM can raise the $5M to fund Zulu DFS. It is a relatively small amount. Once we have a proven Zulu resource, then will be the time to re-engage JV discussions and once funding commitment secured, building a Zulu mine can commence.

Futureisbright, the trade is on LSE Recent Trades Date: 30-May-18 Time:12:38:50 Price: 0.165p Shares: 2,424,242

Bickmaster84, my posts are predominately based on external news sources such as http://www.sundaynews.co.zw/16-billion-deals-bear-fruit/ and I have no agenda other than drawing attention to them. Your posts are littered with insults and that begs the question why stoop so low unless it is so can feel better about yourself?

No Bickmaster84, you need to appreciate news about thenew Zimbabwean ministry and that the news article overall gives the up to date position, something we need all to be aware of when investing in any share

Agreed some has been previously reported but not all and importantly it confirms the up to date position. The Sunday News article gives more detail than that posted by some. http://www.sundaynews.co.zw/16-billion-deals-bear-fruit/ "Spokesperson of Premier African Minerals Mr Fuad Sillem told our Harare Bureau last week from his London base that the firm is lining up a $64 million investment for its Matabeleland North venture." "We have invested a significant amount of capital on exploration drilling, resource estimations, metallurgical test work and other engineering studies. The project will cost around $64 million to build, with peak funding requirements of only $38 million. The project will generate 452 direct jobs and make a significant contribution to the local economy". This direct jobs figure is new. Fuad then says "We are currently in discussions with a number of strategic groups with regards to the financing of the feasibility study of the project.", this we know but confirms the current status. The news article then updates the government position: - "Since taking office last November, President Mnangagwa's business-oriented administration has signed deals worth US$16 billion, most of which are greenfield investments, while others are projects that were stymied by the old administration. President Mnangagwa set up a Ministry of Presidential Affairs and Monitoring of Government Programmes to eliminate the inertia associated with Government bureaucracy." This new ministry should help speed up the RHA sign off. GLA.

Rather than someone setting an unlikely time limit for news of only a week away we need to adopt watchful waiting. As for GR investing his cash to bring faith and stability to this share, the result would be traders selling off the back of the bounce and dragging the SP back down. Faith and stability is more likely following excellent news on RHA or Zulu so really we need to see the outcome of the current negotiations even if they are taking longer than some expect.

Moneytolose, there are a myriad of costs that are involved with mining development. The associated costs with further Zulu drilling programs will include geological surveys mapping and trenching to determine optimum drilling positions. Roads and other infrastructure have to be expanded and site safety and security maintained. You will need to raise your points with PREM for a detailed and definitive reply.

Moljen, I am focussed on all the shares issued by PREM and the reasons summarised below: - 2,321,186,620 Shares in Issue as at 21 December 2016 dilution 9.64% Darwin 2,858,028,725 Shares in Issue as at 30 January 2017 dilution 18.78% Placement 3,159,722,734 Shares in Issue as at 6 February 2017 dilution 5.26% Darwin 3,356,153,585 Shares in Issue as at 8 February 2017 dilution 15.4% Darwin 3,650,799,862 Shares in Issue as at 9 February 2017 dilution 7.4% Darwin 3,968,644,358 Shares in Issue as at 13 February 2017 dilution 8.0% Darwin 3,982,742,765 Shares in Issue as at 20 February 2017 dilution 0.35% Afmine 4,385,022,019 Shares in Issue as at 27 March 2017 dilution 9.17% Primary Bid 4,391,022,019 Shares in Issue as at 31 March 2017 dilution 0.13% Directors 4,580,513,769 Shares in Issue as at 18 July 2017 dilution 4.14% Circum 5,266,228,055 Shares in Issue as at 31 July 2017 dilution 13.12% Circum 5,353,728,125 Shares in Issue as at 09 August 2017 dilution 1.63% Circum 5,357,287,604 Shares in Issue as at 21 August 2017 dilution 0.066% Circum 5,593,454,444 Shares in Issue as at 23 August 2017 dilution 4.22% Circum 6,248,216,350 Shares in Issue as at 6 October 2017 dilution 11.71% Primary Bid 6,500,247,600 Shares in Issue as at 27 November 2017 dilution 3.88% Primary Bid 6,557,972,350 Shares in Issue as at 18 December 2017 dilution 0.92% Contractors 6,572,936,370 Shares in Issue as at 22 December 2017 dilution 0.23% GR Loan 6,822,936,370 Shares in Issue as at 22 March 2018 dilution 3.66% Darwin Warrants I have previously critisised imprudent acquisitions and ARCM is a minor concern. I am more focussed on Zulu and the radical change in Zimbabwean government investment policies as departments get to grips with the difficult process of implementing responsibilities for this change. This is why getting RHA signed off is taking longer than expected.

Moljen, check currency exchange rates before doing your calculations. Also note the lock in period as the share value may have increased or decreased during that period. PREMs other assets are likely to deliver far greater shareholder value and much sooner than ARCM if they come to fruition.

I look forward to the upcoming podcast when GR can provide more detailed information on developments.

These American computer generated reports are two a penny and published by a so called anonymous 'staff reporter'. They contain no actual factual business news or developments.

Fear of missing out (Fomo) is the same instinctive urge that drove our forbears to poke their heads out of their caves to check on dangers, threats and opportunities. Fomo is clearly being demonstrated here while new investors look forward to possible lucrative gains.

Looking for problems before the AGM venue is even annouced? My broker charges �100 admin to send out proxy forms so best check if your broker also charges.

chippyjoe, I was discussing share headroom and that would be used as Zulu progresses, a bit at a time. Valid reasons would have to be given for each phase so the market could take a view on the added value vs % dilution. As for the CEO going, I would need to see the competency of his replacement. The SP has priced in the current position. RHA needs to get back into production but only once the Zimbabwean minister has signed the transfer agreement. Any cash injection before then to restart RHA could adversely affect the outcome of the transfer agreement. Negotiations have to be concluded first to maintain our bargaining position.

The AGM decisions will be decided by large volume holders. Talk of a small group of small volume holders swaying any vote is pie in the sky. That said, I would welcome a large increace in share headroom but only if that were to finance progress on Zulu to production and as long as PREM retains 100% ownership of Zulu with no JV involvement. If however JV agreement is reached soon and with decent cash received, then PREM may not need to increase the share headroom by much anyway. The situation is somewhat fluid as there are other possibilities such as Circum liquidity and RHA share agreement being signed, so I any current views could change to reflect PREMs best long term interests as events unfold.

Johnatlilyvale, the vast majority of options and warrants are well over 1.0p and so will not be exercised in the current market. See last accounts for details.

We have not quite reached the share ceiling yet. There are 177,063,630 shares worth around �284,000 @ 0.16p per share . That should cover the next drilling costs at least until AGM when the ceiling may, if required, be increased from 7 billion.

ChinaBlue,thank you for the clarification. I would place little substance on a tweet timescale given that once PREM has enough cash, most of that cash will probably be allocated to RHA and Zulu and normal back room costs.

ChinaBlue, why do you suggest Friday 18th May is the deadline for news? If you are referring to news on the Katete prospect then Premier has not even started initial mineralogical and metallurgical studies. These studies are firmly on the back burner at least until PREM can finance the work. Are you setting an arbitrary deadline for news simply to discredit sharedycat1 tweets? If so, then perhaps you need to await any official news on Katete.