Member Info for Moljen

8,039M at 0.00042 = £3.3M, even at 0.00045 = £3.6M
Don't really need to add anything else

erratum: where I've said directors would get them I mean creditors (no doubt there would be a significant amount of the $2.4M due to them in various capacities as consultants, office providers etc but lets be technically correct)

In my opinion the plan I talked to GR and MF nearly a year ago was a far better one but for reasons unbeknown to me they went from let's get going to a few days later mmm we need to cast net wider just to be sure and in the meantime we've got Russell still on hand as a Consultant. Problem we now have is that to effect the wind it all up and share out Circum shares is there is potentially up to $2.4M in liabilities which would need cleared first otherwise the directors would just get them. It's a Catch 22 as if $2.4M or thereabouts is needed to be raised to share out Circum Shares to current shareholders then you may as we'll get either RHA working or Zulu proved up with the $2.4M and still have Circum. The problem is hell would freeze over before I put in one more cent to allow this current Board continue to be stewards of my hard earned cash. I think I am not alone in this opinion which means a the parasites who lend to Companies (underwrite placing) will want more than their usual 20-30% discount. Lets see if it can hold the 4's tomorrow.

Jessell - reading from bottom up so am sure I'll find several more comments just like this one. Great post.

CB58, with Napom, Mal, Magoo, CF, Smile, Xulu and many more providing lube and guidance if we're using metaphors.
A deep dark hole exists, unfortunately it's not been dug anywhere in Zimbabwe with either Tungsten or Lithium as a by product.

Apro - only opinion I'd add is perhaps using a pair of handcuffs just in case you tire of waiting.

you forgot the $100K plus per annum for renting an office at the ranch (paid at year end of course) plus the $200K plus travel and accommodation.
If only he cost us $250K pa!!

Hi Luther, AIM definitely not for the faint hearted or foolish who don't question. Think it's a question of finding them where you know what the story is and how they're going to get there and monitoring them very closely for any deviation and if your questions aren't answered satisfactorily then get out asap. Fortunately i've got 2 which are heading along very nicely and recouping this fiasco and a couple on the watchlist. Just tend to add the odd grand here and there now rather than great big chunks and (touch wood) seems to be working.
FCA will do SFA, I've tried twice on Prem now and just been swotted away although it's now quite apparent I was totally correct.

They're not worth $6M they're worth what somebody is prepared to pay for them which is currently $1 as per the loan agreement when we can't pay back the 1st instalment in a month. Need to borrow again? here you go but we'll want $0.50 per Circum share as collateral.
Beggars can't be choosers and we're beyond begging at present and everybody but Napom, CF, Tedboy, Mal etc now knows it

Hi Luther, it's been a long hard lesson for many I expect however as long as some people gain from the experience and are more ruthless in their AIM share dealings then some good can come from it.
It is unfortunate that there have been so many opportunities along the way for this to be put right but now I do fear the worst as certain people are still make apologies for what has gone on. Until that stops not a chance IMO.

There it is, by end of day may well be down into the 3's
So sorry for all genuine long term holders as this car crash continues

Premier African Minerals Limited hit a downwards 5 year price breakout.
24 seconds ago -
PREM triggered a breakout alert.

Looks like we've achieved another milestone.

Glosman, because for the last few years whether by design or incompetence the BoD have squandered millions upon millions through bad decision after bad decision whilst paying themselves very handsomely. They have been aided and abetted in this process by a stream of ramping posts by people on here and elsewhere who have shouted down every common sense question over Corporate Governance and even today CF and Napom continue to do so. The financial situation here is dire beyond belief - $2.7M is due before the end of the year for stuff we've already spent, so whilst $300K may disappear on the bank overdraft it's a drop in the ocean compared to the overall situation if the remaining $2.4M isn't due to Zim companies. There really is only one option being consolidation and a massive placing (my guess 8Bn equivalent at 0.03) which with any other BoD may give a fighting chance but with this lot it's far more likely will just enable GR to carry on pulling out the best part of $400K a year on Consultancy and recharging Prem. Anything of any value seems to have a way of disappearing and clearing these amounts. Leave it to you to work out why it wasn't RNS'd or you can wait for CF to pop up and say it was an inspired bit of business selling them and keeping it quiet, mind you he'd say the same if we went into Administration.
Long and short is it was because they can get away with it and the powder puff group just believe any old baloney (ie the wage cut which was actually £4K for GR and no options and no longer having Russell on Board) and as a result don't act and allow it to continue.

It's buried away on Page 53 of the Accounts .... On 6 November 2017, Arc Minerals (formerly known as Ortac Resources Limited) announced that it would make an offer to acquire all of the outstanding shares in Casa Mining Limited (“Casa”) ("Sale Shares") for a consideration of 14.85 shares in Arc Minerals for each Sale Share (the "Casa Offer"). The Casa offer closed on 10 May 2018 and Premier converted 412 500 Casa shares into 6 128 822 new Arc Minerals shares. As at 31 December 2018 all shares were sold in Arc Minerals (2017:$0,196 million.

Let's hope in 30 days Regent are prepared to take the monopoly money for the $175K we owe them on the first instalment as selling the ARCM shares isn't an option as they've already been flogged.
Must have missed the RNS on that one, wonder what other nasties will come out of the woodwork over the next few weeks as the AGM notice comes out - must be on it's way as we now need a consolidation and share cap raise. Sweepstake as to where the meeting will be held as we all know it could be held in the UK despite last year's excuses.
Still sitting there with over £2M of liabilities to somehow pay so it'll be a biggy, 5Bn equivalent at 0.03 is my guess

CF - are you incapable of reading. GR took no directors fees however he took £240K in Consultancy Fees and over £100K for providing an office at the ranch.
The grand total of a cut he took was £4K , the only thing he didn't get prior to last year was a shed load of share options.
The only people ignoring what is staring them in the face is yourself and Napom

Napom - whose ignoring it?
Quite clearly posted last night in detail on whose fingers are in the pie and to what extent including the non payment of Directors fees of £56K..... There's also a little note that Directors Fees remain unpaid, before any of the arch rampers suddenly get all excited about this saying they're feeling the pain also please not these only amount to £56K it doesn't say Consultancy Fees remain unpaid. Anybody care to place a bet that Georges post four Grand pay cut remains unpaid??
Looks like it you burying your head in the sand and not mentioning the £240K of consultancy fees and the £120K of recharge for admin etc which it quite clearly states has been paid.

During 2018, administration fees of $0,114 (2017: $0,196 million) were paid by Premier to a trading business in which George Roach, Director, is the beneficial owner. Administration fees comprised allocated rental costs and administrative support services. At the financial year-end nothing remains outstanding of this amount (2017: $nil).
Borrowings In. Just in case £240K wasn't enough then, nice it was one of the bills we could pay.
And boys and gals you'll love this one too ..... As at 31 December 2018 all shares were sold in Arc Minerals (2017:$0,196 million).
Doubt we'll be seeing much of certain posters over the next few days, hopefully gorging on humble pie

Well pretty sure I'll be seeing the last of a small fortune dwindle to next to nothing tomorrow, listen don't get too excited at renumeration. What you'll see is Directors fees reducing from £58 to £56K, Consultancy Fees From £302 to £240K broken down as GR dropped from £244K to £240K and and our esteemed Financial Consultant didn't get his £118K last year . Then in an act of incredible generosity they all gave up share option payments which cost us £209K the year before. So Napom (drum roll, enter stage) your own and Group much shouted about wage cut mounted to basically the Accountant who had gone and the share options. GR in real terms took a FOUR grand pay cut. Some would say you couldn't make it up as to what mugs you've had made of you.
There's also a little note that Directors Fees remain unpaid, before any of the arch rampers suddenly get all excited about this saying they're feeling the pain also please not these only amount to £56K it doesn't say Consultancy Fees remain unpaid. Anybody care to place a bet that Georges post four Grand pay cut remains unpaid??

Anybody else reading these -
Just up to our qualified audit report so not really into numbers other than placing required - looks as though right again and team ramp completely and utterly wrong as usual.
Especially galling for Ted though must be the announcement that Zulu has been impaired and not doing anything with it.
So there it is boys and girls - totally out of our hands, needs us to continue shelling out to keep the team in the lifestyle they're accustomed to .... what that is and relative to last year we shall see as carry on through them.