Member Info for Moljen

Charlie, appreciate interpretation but without additional information the article reads correct. It’s somple maths that without a JV or Asset Sake this company needs circa $4m just to get back in an even keel and run for the next 6 months.;If money was available from non death spiral financing we would have gone for it by now instead it needed GR to loan money. Without change the discount required to raise those sort of funds will be catostrophic for shareholders. There are 2 groups of shareholders, pays your money and take your choice - obviously sly another choice as Strongman did.

Strongman. You’ve reduced your holding PMSL. No money to develop, 15 months for a diddly squat return even if they can raise $1.6m, no agreement with gov etc etc.
However do admire your honesty about selling and for that well done

Tedboy, you’re obviously googling things you have absolutely no comprehension of. I am more than aware of a acid test quick ratios, cash flow forecasts, equity dilution etc etc. I suggest you go back to my posts of last year regarding Corporate Governance before you start putting your misconception comments out. People like yiurself, Xulu and Strongman are the most sort of dangerous posters on here. Anybody with the slightest understanding of reading financial statements understands the score here, to say otherwise is completely disingenuous.

Tedboy - do you even know how to read a set of accounts? - here you go in the Company's words, take note of the last sentence. Money is required, no money forthcoming and this Company is a Norwegian Blue.

We are going through $100K per month just standing still

Going Concern

The Directors have prepared cash flow forecasts for the next 12 months, taking into account forecast operating cash flow and capital expenditure requirements for its RHA Tungsten mine, exploration activities at Zulu, available working capital and forecast expenditure for the rest of the Group including overheads and other development costs. The forecasts include additional funding requirements which the directors believe will be met.

Tedboy - for yourself and the 3 who ticked it up - I'm not using the wrong definition nor am I burying my head in the sand

Definition

Current assets minus current liabilities. This amount indicates how much capital is being generated or used up by day-to-day activities. If net current assets are negative, the company may have difficulty financing its day-to-day operations. also called working capital or current capital.

Read more: http://www.investorwords.com/3242/net_current_assets.html#ixzz5SwtfjLIu

CF - did you read the interims, we have current liabilities of $3.3M and current assets of $299K, basic accounting lesson 1a.

We are absolutely drowning in bills to pay or do you not class financial obligations as debts?

Appreciate you are trying to find something positive in this car crash but burying your head in the sand when the truth is printed in black and white isn't doing yourself or anybody else any favours.

Good luck Chilston

if (like me) you are concerned about your investment then please send your contact details and holdings to premactiongroup@gmail.com

13,658,089 shares

Camp 1 - people who are worried about their investment and have lost faith / belief in the culture and stewardship at Prem & another Camp.
Craig is trying to collect sufficient votes to give the collective Camp 1 sufficient firepower to try and address this situation but the message will get lost in the sheer volume of posts.
If you're in Camp 1 how about not helping the message get lost in the noise of hundreds of posts - far more effective is something short, sweet and to the point, perhaps along the lines of .........

if (like me) you are concerned about your investment then please send your contact details and holdings to premactiongroup@gmail.com

It's the only message you need to post if you agree, many are angry and frustrated but as you witnessed in the webinar there is nothing that makes it easier than an incoherent voice.

And by a short neck from Yellow Brick Road and Judy Garland my music choice for the RNS's is -

https://www.youtube.com/watch?v=LQiOA7euaYA

ps Craig, emailed you holdings

So we need $1.6M peak funding, still not sorted ownership with the Govt and zero update on any potential JV's.
Each to their own but am struggling to comprehend how some can call these great RNS's, just waiting for Strongman to tell us that in the history of RNS's that this is the holy grail. See Micro is already in the queue to sup from aforementioned cup.
Ah well I suppose we still have Circum to wait for, must be imminent by now.
On the bright side of things since we don't have ownership sorted there seems really little point in rising the $1.6M at this moment in time, unless of course we don't have the money to pay the leccy bills (or a little loan that may need repaid in November). Sweepstake anybody for timing of placement and price - me I'm going for no later than mid Oct and around the 0.11 mark.

In this fast changing world compared to our slowly evolving mine should we be concerned about the possible technological obsolescence of our product?
Around Nov last year when I made the big decision to no longer average down here I was fortunate enough to put a rather good sum into another share involved in another material of the future (graphene). Graphene may well be involved in all sorts of areas in the future but a huge one is its potential in batteries - one of their collaboration partners is making some interesting claims regarding batteries and they don't involve lithium. Food for thought perhaps? Anyway links for those interested -
https://www.zapgo.com/wp-content/uploads/2016/09/Carbon-Ion-a-new-category-of-energy-storage-devices-Technical-White-Paper.pdf
https://www.dgiwire.com/in-north-carolina-a-battery-revolution-may-be-brewing/

See your self declared staying away from the Board didn't last too long.

Afraid I'm neither 1 or 2 so you've got that wrong - been involved with Prem (Unfortunately since 2014)

Able - sorry to hear of illness and yes Oct could be interesting with Italy. Is she going to be the one which brings the pack of cards down. Subconsciously I've noticed I keep adding little bits and pieces to my gold holdings as and when funds available.

I didn't even get a response from them :-)

Strongman could I refer you back to the $800K cash burn, the -$3M near cash position and the note in the accounts. Raised them all but you din't really engage on any so not too where you get I didn't discuss accounts from - again just IMO. Anyway have a G&T waiting with name on it so I'm off out now to enjoy this gorgeous August afternoon.

Next you'll be hash tagging me too, abusive LOL I just called you out and looks like I was right IMO

Strongman boost is both condescending and a poor attempt at deflection. But as you say that’s IMO, been and seen your type of poster before, very dangerous as others have now commented. Ps I outlived Xulu and no doubt you will be no different, just IMO of course x

Not Board Admin and pleased to see you’ve now acknowledged the dire straits and people would be blind not too see it.
Thank you that is all I wanted to see, perhaps in future you should start each and every post with that comment and then post the rest of your comments.

Impressive there minermate, so burning $800k in 6 months and a net liquid asset position of -$3m sbs you say patience is all that is required. PMSL, unfortunately time ialingside cash are the two things we do not have.

So pleased one or two more of you have found Tony Seba ... you think the June 18 stuff fries your brain a bit go back and see his stuff from 13 /14. All thats changed is it's happening quicker.
If you believe in Graphene and believe these guys are the worlds current front runners then what are you looking at, 18 months max?
Never say go all in on anything but I'm now 25% in and thinking of increasing - guess i should have strong buy as an opinion