Member Info for Moljen

CF- numbers bandied about maybe but this seems somewhat contrary to news from the Zim Finance Minister as they are frantically trying to obtain foreign currency to support the launch of a new Zim currency. Do you really think they'll be throwing $2M of something they're desperately trying to amass into what has been historically a money pit - his words not mine below before I get the usual abuse but would love to understand the thinking / logic as to why they'd put a scarce resource into RHA ...... "Zimbabwean finance and economic development minister Mthuli Ncube said last week that the country will have its own currency within the next 12 months, as government is frantically working on raising enough foreign currency to anchor it.
Addressing delegates at a "Road to Davos" townhall meeting in Harare, Ncube said adopting the U.S. dollar or the South African rand would not solve the country's macroeconomic problems.
"On the issue of raising enough foreign currency to introduce the new currency, we are on our way already, give us months, not years," he said.
Asked to give a timeline on when currency reforms would be implemented, Ncube said it would be done "in less than 12 months.""

to whoever made the £120 before dealing on the two trades between 12:20 and 2:20 today, at long last somebody other than the obvious has made a few quid on Prem.

Mal - been through them, you're full of s***e as all that's there is a constant shorters are running for the hills type comment beginning Mar 18, troll off or muck spreading. You haven't actually anywhere at all provided evidence of how Prem can be shorted. See thats the problem with a lot of posters on this Board they wish things to be that aren't. You really should read some of your history, it's full of shooting people down because they questioned information (deals for Katete, JV's for Zulu, NIEFF agreements etc etc). When you think about it the only people who have muck spread in your entire 25 page history of posts are the people who's rosy tinted view you have propagated.
Thats right Mal - for nearly a year you have consistently castigated and insulted people who have been right all along, most people learn from repeated mistakes but then there are some who don't

Mal - if you've posted previously then you'll easily have the information to hand and be able to repost, genuinely would like to know how and with whom so as I can get a price. Thank you

Not using Level 2 so 15 minute delay but looks like last sell was 0.00915 (the 2M) and bid is 0.009 so not sure how you're £150 up after buying at 0.00914???
Add on dealing costs and you'd actually be down

Mal - my understanding of shorting shares is pay to borrow some, sell them and hope to buy back later at reduced cost. Spread betting understanding of that though is its like sports betting and you're up or down depending upon the underlying price movement but doesn't involve any physical ownership of stock. I can see how shorting can affect a share price but not spread betting as no physical asset (shares) are involved. As I said to Wile this shorting myth keeps appearing but no one has ever provided any information as to how, you can't even get a quote for a put or call option on Prem shares let alone a borrow to short. So yes whilst I can find a history of mythical shorters on Prem on Google when I dig down into hem they are largely like your post hearsay that they exist which isn't the same.

As I'm not invested in any I can't comment - all I know here is that any research I've done or when future events do occur it / they tend to contradict the information previously provided by the Company. Whether the Company's information is wishful thinking, incompetence or something more malign I don't know , all I do know is that it's never been accurate / quite the truth.

Wile, each to their own I've given my view and reasons why which is the purpose of a BB i'd assume. For the sake of any holder we should all hope that after three years I'm calling the situation incorrectly, time will tell.

Mal - you can't short Prem, believe me I wish you could. When I was first concerned about Prem a couple of years ago I tried to see if it would be possible to "insure" my holding against the position we are now in.
This shorting myth is simply that and I fear you are simply repeating an oft mentioned remark made by people who don't like the reality of the situation.
Please feel free to prove me wrong and show me where / how / cost of shorting Prem because if it is possible I'd be genuinely interested as insurance as I still have 15M shares here.

Steward - well it's not a debt, it's a return of sums loaned to be repaid from profits so two things to consider. Firstly will it ever make a profit - see Bara report for peak funding requirement and 15 month return of £616K - viable??? Secondly, the clock is running down on the license period so may be irrelevant anyway and, if AND THATS A HUGE GINORMOUS IF the Zim Gov put any money in they're going to renegotiate the deal terms. So do I put any value on it - yeah 1% it may have value 99% it doesn't.
Value on Prem - 80% it is on it way to oblivion so zero, 20% it has some spike value if by some long shot the Zim Govt do put in some cash or something happens with Circum, be it an IPO or Dattels makes us a s*** offer for our shares, or there is a dodgy KDNC / KME type RNS and people fall it.
That's my honest answer based on the things I can see happening - there could be other possibilities such as the shareholder group actually getting a grip on their position - I think even just shutting the whole operations down and holding the Zulu licenses, Circum / Arc shares for half a decade might lead to a better return but again insufficient information as there may be operational requirements attached to the licenses.

few spelling mistakes, apologies but trust the gist is followed

Wile, not necessarily so when you say the Assets exceed the market cap. Excluding what the company owes out lets look at the 3 assets:
ARC because it's the easiest - worth what £175K if we haven't already sold
RHA - potentially diddly squat, we've already written it off
Zulu - taking a long cold hard look at and the value in the accounts is the cost of the license and the costs we've spent developing it so far. RHA at one time was an asset valued in much the same way and then got written off because of XYZ problems in monetising it. Who's to say Zulu won't go the same way? We don't exactly have a Jorc complaint resource statement we have inferred from a few holes and largely validated by our in-house resource. It's a long long way from monetising - circa $5M isn't it for DFS - note at the Chesterfield Meeting it was $1.8M and it's never been explained where the huge difference in costs came from. Mind you Prem have a huge history of saying one thing and then down the line the actuality is something different. No funds, no DFS and Zulu is worth next to nothing because we'd be a distressed seller.
Circum - Supposedly IPO'd by now and development beginning but it's actually not. Last share sales were us buying at a lower price than the time before. Why would we expect the next share transaction not to be even lower?
So no whilst we may wish the asset value to exceed current market capital no way is it a given

Mushty yourself and whoever thumbed up need to reread the Oct RNS - 3 months development work before stoping, peak funding requirements $1.6M and after 15 months generate $616K.
Next please

Yesterday said the .008 would come and it did, some of our more wiser and astute posters shouted how good this was and topped up and averaged down instead. Just goes to show how some of us interpret things differently - looking forward to see how they explain what an opportunity this is this evening. Actually I'm not because it'll just be a rehash of everything they've posted over the last six months, wishful thinking not backed up by reality and an inability to understand a set of accounts. For one of the oracles yes we are not (yet) balance sheet insolvent but we are cash flow insolvent, but hey don't worry the auditors confirm all is well (see earlier posts to understand that one, in particular those who up-voted his reading of an auditors opinion - as really can't be arsed repeating it again)

CF - people just want you to be realistic, Neville Chmaberlain proclaimed "peace in our time" or Brexit would give the NHS "diddly millions each day" mean nothing. These are words from a politician which are not being backed upon by actions on the street - you were given definitive examples yesterday, real life companies partly owned by the government shutting down because they can't access cash. Other than repeating the same thing please give us one example of the government actually giving real hard cash to get things moving. If you can't then please explain why we should think Prem will be the one exception to what is happening elsewhere? I myself have looked and instead all Ive come across is yet more examples of companies struggling because the govt has no cash and reports of it getting worse. Here you go - https://newzwire.live/zimbabwes-2019-investment-outlook-analysts-speak/
Of course I'd love you to be right but the evidence just isn't there, you and Ted are just spouting meaningless words which are not being corroborated with hard evidence. That is why the share price is where it is

Mal - messages crossed in the ether. Both Chippy and I have said the same thing in different words. The BoD need reigned in asap and a true and factual "audit" of the situation needs done from which Plans A, B or even C can be drawn up and voted on.
If he's not a bullshi*** only one person / group has the firepower to do that, if enough of you members of that group believe as You do then it's something in your hands not ours. I offered to help months ago and the offer is still there and from memory I fairly sure Chippy has also and would still no doubt do so.
I do fear you'll now find yourself expelled from the group for even considering it though

Mal - you keep saying people are trolling, then comment about Chippy not attacking the people who have a different point of view. Pot, Kettle, Black etc, food for thought perhaps?

Well if the price goes down when the O'Donnell's buy it rocketed when I said it was getting like watching paint dry so how about come on Wad's it's like watching paint dry again :-)

O'Donnells please do not go and put the kiss of death on it by buying again

Mal - you can only put forward a working plan when you have the relevant information and we as shareholders do not. Just on the Financials, the interims are 6 months out of date, so yes there are no doubt several people invested here who could put together a plan but to expect them to be able to do so with what we have and the dubious nature of some of the information we have been provided with makes that a bit of an unrealistic expectation
If you want my honest opinion of what to do (even though it is probably now too late) yesterday I repeated a post from months ago I made to Napom - in his wisdom he concluded trying to take the p*** out me was a better option but each to their own.

Mal yep still here, still holding, still p***** off with myself for not selling when Darwin first hit and numerous times ever since but fortunately aside from it being a very expensive lesson learnt it's not the end of the world.
My posts will make no difference to whether Prem succeeds or goes bust, they may make a difference to whether people undertake additional research before making an investment decision here.