Member Info for Moljen

Jono you have absolutely nothing to confirm the off take deal is real - the wording from the RNS is ""The offtake partners have confirmed to Otjozondu that they are reviewing the existing uncommitted credit facility with the intention of increasing prepayment for manganese ore in two equal tranches each $300,000, in the ensuing months. This planned increase in offtake finance will ease funding requirements associated with increasing the mine production rate and help fund the lead time between production, shipment and final payment on outturn at the destination port."

They are reviewing nothing more and nothing less so it's not real, anything outside a RNS (some would say even within) from Prem has constantly proved to be worthless. No off take = urgent need for dilution

S72 - indicated earlier a potential issue as financing hasn't yet been put in place for the expansion, we're still waiting to hear back from the off take provider from the 18th as to whether they're prepared to sub $600K. No off take and the rest is even more pie in the sky that at present. Problem with Prem is the longer these take the more likelihood we later find out they were just wishful thinking and forward looking statements a la Honey Badger or equipment arriving from Namibia. Two weeks on and the odds now have to be heading towards needing to fund themselves to a degree more than expected. Can foresee another percentage buy of MNH backed by a Riverfort or Darwin in the near future to fix the hole left. Leave you to do the maths as to number of shares to be issued to cover perhaps $500K required with the usual 25% discount (profit margin for funders) and how long it'll take for them to churn through on top of what is already waiting.

Morning Acker, was wondering whether you meant that or the rain. Think of equal concern over the MNH situation is the RNS from 18th June has not yet received a follow up. So we have CV19 affecting the port and the usage of the port is largely going to be funded (supposedly) via the off take partner providing two tranches of $300K. Well considering the ore is security for off take and we seem to be having issues reaching the forecast production levels these two situations could well leave the off take partner deciding risk is too high to proceed. If this were to happen we appear to have only one choice, confetti to cover. What joy, would be back to deaths spiral financing or is there sufficient PI interest for a PrimaryBid type offer? Neither of which would do the share price any favours.

Darlo would have a certain irony to it being a Prem shareholder - great big white elephant of a football stadium built by a George who tuned out to be a bit dodgy with funding if my memory serves me right.

Always had Val down as from the South East so you're probably wrong there too. Mind you some would say you should be thankful for that as that'd be sort of smack centre Middlesborough. Suppose could be worse, if you'd said 25 miles you'd be in Sunderland. Actually Prem and Sunderland could have the perfect footy shirt deal, byword for perennial under achievers both likely to achieve SFA and cost a lot of people a lot of money in-between and break a few hearts.

YNWA - a 50% spike from here makes you good money however can't see one condition which may generate it at this time so trend and trades are taking the price down and actually quite rapidly. Just shot back a few pages to 18th June and its quoted 0.10 so that's 22.5% in what 10 days or so. Another 10 days at same rate is 0.0608 and 10 days later 0.0477. 100% from there to get back to today. Based on external factors and how Prem has been run and it's financial predicament are we likely to see anything by mid July to change the trend?
Not here to knock Prem, simply want to keep making money out of it & for the life of me not one person has come up with a reason why the downward trend won't continue. It's not me that'll take it down there, the market is doing that and for that reason IMO now is not the time to consider buying and if you're going to be needing your money in next month or so be prepared for it being worth half of today's price. A real RNS would change this but again IMO there are only 2 possibilities the first an EPO signing but if you know anything of the current situation in Zim it's teetering on the brink or verifiable figures (both production and financials) from MNH however we all know how well our 1st $1M there panned out in terms of delivery by end 2019. Most things in life are 80:20 so I'm 80% these won't happen and 20% they will. Think the board cluttered by Doggo and the other one would be a less risky buy at the moment especially for anybody seeking an average down from a hefty position.

Now if one was being mischievous one would suggest what a stroke of good fortune that the answer to that question has been delayed by 3 months and some available headroom now exists to show the auditors we can always dilute to fulfil the sufficient liquidity to continue operations for another 12 months aspect. Mmm affect on share price, downwards wouldn't you say? Arguments to contrary please or if all else fails name calling and unfunny comments most welcome

Oh Wolf how you must miss the volumes of fiction produced by Xulu and then Tedboy then and how good they made you feel. Shame they were just fiction. Now those were incredible bits of badly undertaken research dressed up to look good and how many people fell for them? Unfortunately not here tomorrow as the weather is more kind so will enjoy a day working outside for my entertainment. I'm sure the rudderless POS will survive without me, however not too sure .0775-.08 will based on todays trades as they've struggled to get sales away today and there's a lot more of them in the pipeline.

YNWA - yes it may fold (think taken private more likely) but these things always drag out with a dying cat bounce somewhere. Think we'd actually need something tangible to see 0.2 in the near future but can see 0.10-0.12 on some fluffy news. All depends what the price sinks to before fluffy news and how the fluff is dressed up , when you're struggling to hold £10M (actually see it's gone now and is £9M) then the likes of £5M aren't too far away. Now £5M up to £13/£14M is a good profit, less than £5M even better so I'm not moaning at all I'm just biding my time and in the interim calling out un-substantiated ramps and blatant misinformation like Friday's closing.

NTUK - ??? share boards are to discuss shares in the hope of gaining some insight into future share movements. Some peoples posts are full of BS and wishful thinking and when it doesn't come to pass they get all uppity against people who questioned it in the first place. It's not my problem that those full of BS and wishful thinking only response is nah nah troll.
We had SK on Friday with it's a positive opening today based on Friday's UT, I called them out on it and was correct - maybe one person after that went and read up on UT's which may place them in good stead next time they are considering to buy or sell. If they have it'll do them a hell of a lot more god than some of the crap advice I've had on here today which largely seems to be throw good money after bad and hoping things will get better.
Yes sometimes you'll get an uncalled for shorting attack against a company but sometimes a company is just a POS with limited options, yes I think the vast majority of this has been self inflicted but that's another discussion for now it's just a POS and I only see the share price going down for reasons given.

Eddie - I don't care one way or other whether people are running at a loss or profit I only care if a poster posts intelligent information which my assist me to make a profit. You say disagree with my posts? To disagree they'd have to come up with a substantive reason for disagreement but they don't it's just trolling, sad life, go and join those banned etc etc.
Deep down they know it's a POS with little chance of ever doing anything so they can't hence their responses. If you're in profit after averaging down then well done you, even more well done if you'd sold at 0.135 which is where I did and even better to those who caught the 0.145
Hopefully we'll get the chance to do a similar dead cat bounce again and all be happy bunnies once more, well those of who sell and don't get locked in yet again of course.

Wolf - Woodpeckers was before my first Corporate Governance posts when GR took the share cap to 1.5Bn, them was the days

Wolf - another stupid comment. Our agenda is to drive down the price?????????? No we're discussing the factual information that is publicly available and drawing conclusions from it as to what it will do the share price over the short and medium term and seeing if we can make a profit from it.
It's not rocket science and the publicly available information at this time says this is a debt ridden, incompetently run organisation not going anywhere in a hurry with a penchant for issuing confetti and BS or what I categorise as a POS. Now you can still make money out of a POS but it's just a lot harder. If it ever moves to investment grade IMO I'll let you know but till then I'm only interested in when the cat splats and whether it'll bounce as that's where the profit is. Just because you own shares in a company which will never make a profit for a very long time (if ever) doesn't mean you don't have to profit personally.

Mal, don't get you sometime intelligent comments then others like that just pure stupid -
Woodpeckers - banned what was it 2015 when share price over 2p (yes folks real whole pence!)
Crazy Cacti - banned what was it 2016 when share price was over 1p
Val - 2017 when share price was over 0.5p
And today the share price is 0.0008p - I'm not too sure what the point is you're making here. Are we meant to cue elebrating complete and abject failure as that seems to be what you're suggesting

Eddie, I have always held since 2013/14 8.9M shares - at other times have had up to 18M. The 8.9M are now just laugh shares worth SFA in the scheme of things. So yes I'm sitting on the sidelines in my terms at present and if circumstances were right could quite easily go back to 18M or more BUT not as an investment more a quick way to make a grand or two if I think there's a temporary bounce on the way. This is quite clearly been mentioned previously so tbh mate it's probably you who need some help mate as you can't read and understand what has been written down for you.

So OK - the response to your owning shares to a rudderless POS is to bury your head in the sand. That's exactly why shareholders here have been walked over for the last near decade and most of you are looking at great big black holes in your finances and you want to carry on with that strategy.
I'd rather converse with the likes of Acker, Cherry and other people who know their arses from their elbows and make some money out of this POS as and when opportunities arise. Some of you are so blinded by the size of losses or wishful thinking that you may be missing good opportunities.

Another Einstein in the room I see, welcome Rob - all of those who took heed of Woodpeckers around 4 years ago have saved a shed load of money and are thankful for it. Just because you didn't and are now probably 80% plus down and are sick of throwing good money after bad is entirely your own fault so no need to be bitter. I know, make yourself feel better buy some more

Oh Eddie I know La La land investment strategies are a bit strange but doesn't the title of where your'e posting give you a hint ....Share Discussion for Premier African Minerals ........
seems none of you know FA about Prem and think you're on the playground name calling discussion board as it's all you do.
Come back when you want to discuss the point of this board otherwise you're just cluttering it up with more drivel

Eddie - what's sad is pointless comments like yours just because you don't like what I say. I'm just nice and dandy thank you and for as long as I hold a single share here I'll continue to post and give my opinion. Don't like it then filter me, won't make any odds to your percentage down here as that's down to your buying when people like me raised red flags and no doubt you also called them sad as well.

pps 1981, looked at AML and not for me however you should have some fun and games up till 29th Jul when they announce interims. Expect them to be horrid but how much horrid is already built into price I'm not too sure. If I saw 10% between now and then I'd cut and run (either way up or down). Sorry for off topic but need a break from la la land conversations