George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
RNS on the 21st Jan says PREM considering the resumption of plant operations at the end of January 2020 to reprocess historic tailings. Obviously the deal with MNH still needing tying up for this to happen. Well it did a week later with the RNS on the 28th Jan.
They are cacking their pants knowing that work may have already started at RHA. MNH people have camped at RHA since the 2nd week of Jan. Dont think they are there to see the sights.. RHA is in the middle of nowhere. Any update that come out now will be significant and could come any day now.
Same thing happens to other aim companies waiting for news. People who trade on AIM dont hang around and they all pile in when news lands. More important to see the company moving in the right direction than looking at the daily fluctuations of the share price.
A report was already done on the viability of production from tailings at RHA...remember that testing is done inhouse. There is a total of 28,000 tonnes. MNH wont be signing a legal document contracting them and the use of their equipment without knowing that revenue is coming.
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Company now going in the right direction and with all this positive news we expected still to come.... not to mention the shorters will have to buy back in. Plus Mol is spamming the board is in itself positive and a buy indicator.
The deal with MNH enables PREM access to their plant and machinery to process the tailings at cost only and is only payable when the revenue starts rolling in from the sale of wolframite concentrate. Essentially making MNH the mining operator for the underground and open pit development as well optimising the processing plant to produce efficiently, which it will now that the electrification of the mine is complete. Revenue from tailings will keep the lights on for PREM in terms of working capital at corporate level. For the underground and open pit development, PREM will be waiting for funds from the Zim govt to get this going.