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Because the Canmax offer was on the table for immediate funding and this way the project could be fast-tracked to get us into production ASAP (in theory!).
Normally a DFS is needed in order to secure funding, to build the plant.
Raadaar / martini / whoever you are pretenting to be today. Keep up. GR has the licenses, all ready to go, all in videos in public domain.
If you think PREM are done for, just go. You have no place here. This forum is for shareholders and for those looking at investing. It's not a forum for slating a publicly traded company.
Direct your questions to GR, not me. He is the one that says it's saleable, and he is running the company.
As for your other responses, it's just recycled content from your previous posts, so doesn't warrant further response from me.
"PREM are absolutely nowhere near any production of saleable product let alone days aways from nameplate. George could have a £billion plant but if it's not producing, it's worthless. Talk of a second plant is laughable. Mark my words, this company will not produce any SC6 in sufficient quantity for export any time soon and certainly not before all of the money has run out, at which point the company is done for."
raadaar, more scaremongering lies.
PREM has sub-SC6 product sitting in bags which GR is looking into selling, to realise some cash (saleable product).
A £billion plant would not be worthless in any circumstances.
A second plant will inevitably follow the first, once that's been tweaked. That's always been the plan, hence 'pilot plant'.
Even if PREM burn through the recent raises before it ships product, it will raise more funds. I'm glad you're not running this project, or it would have failed years ago.
Bridgedogg, how much more than 100% of the asset would you like PREM to retain? Canmax only owns part of the company / asset as a shareholder, just like the rest of us. Zulu was not sold off to anyone as part of the pre-payment agreement, unlike many other projects, such as Kodal.
Keep up Martini.
09:45: https://www.youtube.com/watch?v=k_Clx318wGU&t=634s
You can't know the cost of putting something right, until you know what's wrong, hence the independent review and ongoing fixes. Stark had a design, build and comission to nameplate contract, and a deadline. Both were missed. I'd be very surprised if there is no legal redress, but I'd guess that is 6-12 months down the line yet.
absolutely no reason to incur any legal fees in pursuing stark, until we are in production and can afford the fees.
martini / raadaar have an agenda to drive the price down and **** off gr every opportunity she gets. personal vendetta.
Martini, you never miss an opportiunity to knock GR, do you?
A CEO who wants to build a plant quickly and cheaply... sounds like a terrible idea! :o)
Stark were contracted to design and build the plant and commission it prior to hand-over to PREM, all of which you know full well. Yes he could have had a team of independent specialists over-seeing every step, putting in their 2p's worth as each wire was connected and each footing dug, but who's to say an independent specialist is any more competent than the design and installation contractor, and at what cost?
Ha-ha Jaglith. Time will tell.
The share price was at 0.4p on the day the EPO license was granted, when the plant was just a pipe dream and not a bush had been moved in the dirt. The current price just represents shareholder sentiment, not how close we now are to production.
40-50% discount? In your dreams, Jaglith. I predict the placing will be above 0.16p, most likely 0.17p
As for the legal case... there is no legal case, yet. If / when there is, it will be Stark that are on the hook to Prem, not the other way around, and it will be GR that instigates proceedings. The time to pursue Stark financially for breach contract is when all the issues with the plant are known and remedied, and we are in production, so have the money available for legal services.
No, that was the assessed value of the plant AND mine at the time of assessment. There is inherent value tied up with what's in the ground, but the valuation only realises a small fraction of that, as it's yet to be mined and processed, as opposed to sitting in bags in a warehouse.
Cringsing: "Question, is it by now a fact that there will NOT be an April shipment ? Also, GR has mentioned that he had asked CanMax to chance shipping deal so CanMax was to collect product at mine-gate (to save him the hassle of exporting it). Has he said if CanMax have agreed to this ?"
Unless I missed something, I don't believe the shipping arrangements have changed, or been requested to change.
GR mused about inviting a Canmax representative to site, so that their staff could test the product before shipping, to hopefully reduce any differences between the epected value of the product leaving site vs what Canmax assess the value to be when it arrives in China.