Member Info for Moljen

Presume one or two have made attempts to find out who is behind Nera Consulting Limited who we are now told own MN Holdings.
How far did anybody get? Tried the obvious ones UK register, Mauritius Register, South Afrcian & Namibian & Botswana registers and a few others and came up with nada. Indeed in the whole of the world once you get rid of all the Marsh & McLellan Nera Economic Consulting which is obviously different the only one I could find is registered in Nigeria as per the below:
RC NUMBER COMPANY NAME ADDRESS DATE OF REGISTRATION
1131511 NERA CONSULTING LTD SUITE3004ANBEEZPLAZAOPP.CACWUSEZONE5,ABUJA,FCT 2013-07-6

Gets a bit interesting here, a facebook page with nothing on it but if you separate out the address above Suite 3004 Opp Cac etc turns out to be a Nigerian Law Firm with the crappiest website you've ever seen
https://kingshousesolicitors.business.site

Obviously those close to the company will be able to put any concerns to bed on this one and at the same time would it be possible to let us know if the plant has arrived yet and if we've started work on the tailings.

Seems a little strange that we may have just given our last £150K to this Nera Consulting Limited unless someone has come across another

Acker - IMO $0 in Napom's probably around $1M as they'll need to come some back for other purposes.
Think B84 has the best idea and give up, guy is obviously in too deep and so needs this to come right

Oh Napom's your rear end is talking so much today it must be sore - the email you refer to and relevant passage is "Not too sure where this leaves anybody, all I can do is let you know my own situation - I'm not interested in joining groups / chat boards / twitter groups or any other talking shops however if you're at the stage where your grouping have reached the stage of enough is enough but aren't too sure what would happen after calling an EGM for change then I might be able to help."

Wanting to join??? PMSL, problem once you start to lie it becomes second nature

No Naps, trying your wriggling again, you said it's worth $640K revenue for Prem in Q1
1 - you based your numbers on 4 times the current reported output of 10,000
2 - because of the % involved Prem would not share in any revenue whatever it is, it will be recorded as an investment at cost in Pref's books and any revenue would be that from a dividend
You and try to make me look silly all you want but your understanding of basic accounting is woeful inadequate to try and do so.
However you are an expect at lying and name calling so credit where credit is due

Napom - yes you did, here is your post

That $1.2m investment in MNH is worth $650k in revenue for PREM just for Q1.

That's your $5.4 * 12%, now if you're going to keep telling porky pies please try and keep track of them

Yep you do seem to hate anybody who questions your pie in the sky statements .... you really need to come up with a better response

Breaking news: Pink fluffy unicorns been spotted flying over Botswana and Zimbabwe, unfortunately source isn't Reuters but Napom
PMSL

What's that Naps, you sold out after the little pump and now back in so here come the ramps PMSL. Somebody over on ADVFN has posted a pretty good analysis which is below, thanks to Melpan. PS revenue is vanity, profit is sanity so if you want tot take this track come back and talk about profit levels, corporate structures, distributable reserves because they're what count not revenue. Happy reading...
This mornings additional acquisition makes no sense. Why dilute further when you have serious issues elsewhere, the company has no focus. Have been invested in this since the 2.5-3p days when there were only 300m odd shares and now there are 11,400m and the market cap ie value, has remained the same!

Re. looking purely at todays investment:
- They spent $200k on 2% ie valuing MNH at $10m.
- The last unuadited accounts for Otjozondu (NOT MNH in which we own a share) show operating PBT at $0.8m - so say $1.6m for full year and at 25% tax and interest $1.2m potentially in distibutable dividends - and thats best case assuming zero admin expenses (unlikely) as those are not disclosed
- Premiers share of this (based on the 2%) would be $24k
- Hence they are paying 8x earnings minimum (more likely to be 10-20)
- 5.2x assets
- 2.1x revenue (if we assume 2x half year)
- For a co. that was set up 3yrs ago and was valued at $4.9m just less than 2 years ago whose resources have not been independantly verified by PREM and were last updated 8yrs ago.
- Holding in a co. (MNH) that has never published any audited accounts. Surely thats rife for potential manipulation and fraud as we have no control over the MNH holding co and its workings.
- The reported revenue numbers seem strange - 2018 was $1.8m, 2019 dropped to $1.4m and they are stating that half year 2020 is already $2.4m !
- One positive seem that the revenue and operating pbt year on year growth is impressive (if numbers are to be believed) so thats great but we are not an investment co !

These are not compelling numbers or facts which scream "bargain" whichever ever way you look at it. The statement of "MNH is cash generative and will help PREM" is a red herring. What cash will we receive ??? It does not seem to be that cash rich and being a minority shareholder, we will only receive any "cash" in form of potential after tax dividends which as above, equates to $24k/yr max (more likely between 1-0.5x this) initially for handing over $200k. Hopefully others on here can debate why this was done and whether it makes good commercial business sense.

Naps you're getting boring with that one, you have an open bet which says you're wrong but you never take it up even though I even offered to pay the legal fees to set it up and said we could use your lawyer.
How about offering somethings serious to the conversation such as your 100% assertion there would be no more dilution unless at much higher levels. Where did your assertion to that come from considering how close you supposedly are to the company.
Potentially seeing your buying and selling and activity here would be more telling, you have all the hallmarks of trading or you're been fed load of bull from the company and keep falling for it.

CH - of course there is a bull case being the potential mineral wealth of Zimbabwe and whether we will ever be able to share in it.
See a court case against the Croc & others was filed on the 29th in Bulawayo - looks like another miner is finding it tough going
Still the rank outsider in the Grand National I'm afraid at this juncture but we can all have some fun and games as time passes but just as I wouldn't bet the house on an outside ranked horse (unless i had inside information of course) the same applies here.

RB - now you're thinking however the most important question to ask to consider what is happening next is how are we getting on with the tailings with our mining fleet? Are they there and doing what they said would be done on the 28th Jan or not?
Find the answer to that and it'll give you an idea of what's coming up next, forget the EPO baloney that'll come when it comes (or not)

Happy fed horses so some good news today elsewhere. Acker I assume that is a rhetorical question - if not you don't need a postcard it can be done on the stamp, there is no revenue via dividend coming from MNH for the foreseeable future as the numbers aren't there yet. Ask again in 12 months when the situation may have changed

Ok CH, then definitely have to feed them. From the RNS.... Total assets as at the same date amounted to approximately N$28 million (equivalent to US$1.9 million).
That's MNH Net Assets at 31 dec 2019 after we have pumped into them $1M which ha then been followed by today's additional $175K
So total $1.175M to hold in total 12% of something whose net assets are $1.9M ....... miniscule holding relative to what we seem to have acquired against the price paid especially as its making negligible amounts of money which don't include interest or tax and no doubt half a dozen other things. Trust explains and also why now 0.845 to buy

CH - of course I'm misreading it and not making sense, just cost somebody 0.849 to buy so perhaps not. Anyway horses to go and feed so see you later

Must admit I was surprised last week when you said you were back in, suppose if you got out early today or yesterday afternoon you'll have made a few quid.
Old adage if it looks like, feels like, smells like, sounds like then the chances are it probably is ......

Acker, hallelujah a light bulb moment there, RHA is still at planning stage and SFA has happened. Well other than us now handing over £1.153M to acquire a miniscule %. Has all the feelings of the mother of all dilutions on way dressed up as a merger of two companies who both need wonga ....... then we may actually get some work done but till then it looks as though we don't even have enough to ship 5t for analysis or drop a few tons into the sorter as need to cover GR's and the rest of them reasonable monthly costs first (yes that is tongue in cheek)

CH - okay vol 229M or whatever it was and around 90 trades was ramped to hell as being huge. Mmmm, go and have look at somebody like EUA, big volume for one of these is several hundred trades and 10% of share capital not what we had on Tues / Weds. Indeed we've had them before on Prem with vol in the billions not millions, nah earlier this week is looking more and more like a pump and dump as each day passes IMO. Now it wasn't the likes of me who are negative who have profited but as sure as eggs are eggs somebody has, wonder who that could be ... perhaps re reading early weeks posts will provide some light

Noticing a pattern there Acker? Same questions asked about KME and ownership followed by the usual shouting down till the whole thing mysteriously disappeared.
Still keep coming back to 9 full working days to get some plant to do a 19 hour journey and process 20 tons of tailings (with our new electricity supply) to load it onto a truck but nada, nothing, nowt, zilch, sfa or any other description.
Why? why? why? why? - company desperate to give some positive news, glaring open goal but we've not put the ball in the net. Only reason I can think of is it was the plan but the plan ain't been implemented for whatever reason

CH - likewise no idea how on earth you could get a borrow on Prem. Suggest you go and ask Napom for the answer to that one as he's the one who always brings it up when he's on a rampathon and people question the logic of the ramp based on fact and reality.
If live price was 0.85 to sell why are people only getting 0.833, 0.85 is an artificial mid price that's all

By the way that's 11% down if you were one of the early door buyers and now looking to sell. Obviously each persons responsibility as to when to buy and sell but if those buyers were influenced by the Tuesday/ Weds noise of EPO at Indaba, revenues from tailings, no placings, JV for Zulu, they're speaking tosh and shorting etc when some of us tried to question the actual reality I wonder what they think now.
By the way 0.833, definitely not a strong bid!