Member Info for NellyB

I think they will likely accept smaller shipments initially, in exchange for more of the plant output volume in the long-run.

For a RUS to be meaningful, GR needs to know what comes out at the end of the plant, not what he thinks is in the ground alone.

Rushing to publish the RUS before the plant is optimised would just be speculation, not based on actual plant throughput, and could lead to credibility issues, or worse still, contractual issues down the line.

They need to optimise the plant, to know what grades and volumes it can produce, before a RUS can be anything meaningful.

Patience. Good things come to those who wait. :o)

Seriously, if that's your idea of charting and shares, you might want to sell and take up stamp collecting.

Thanks POC - I'd not seen this before.

Has it been confirmed anywhere that the current Bahamas government are pro oil drilling? I know this is the same party that signed off on the original licenses, but much has changed since then. Any confirmation / links to recent pro oil comments by current government would be welcomed.

Yes, but how much of the 28% increase in revenue is due to the sharp rise in oil prices? I'm pretty sure oil has risen by more than 28% in that time, meaning the revenues would actually be less, all things being equal.

So, 15 holes drilled, 14/15 are showing good visible signs of Lithium.

Today's results improve on both the size of the known resource, as well as the grade, plus we get confirmation that the extended EPO area is currently being assessed and there may be gold exploration at some point from a known location.

What's not to like?

Only think I can think is the market were expecting results for more than 1 of 15 holes drilled to date, to be released today, or are expecting the other results not to be as good.

GR also said he expected to release results in September... tick tock...

It's what a chartist uses to try to influence rampers on a shares forum :o)
Prem does not follow chart predictions. It follows rumours, sentiment and RNS's

I understand how much bigger the extra EPO area is and was fully expecting the granting of the extended EPO to rocket the share price, yet here we are 6+ months later and the SP is half of what it was on the day the EPO was RNS (I know because I bought a load within 10 minutes of the RNS).

I'm more interested in what needs to be done to keep the EPO and when anything will happen with it.

If nothing is being done with the extended EPO until at least after the current DFS, why the heck did PREM stall for 2 + years waiting for the extended EPO area to be granted, before commencing the current DFS?!

I follow this share fairly closely and have 10m shares

One thing I don't fully understand is the work commitments for the EPO area. My understanding is that the EPO was granted for 3 years (please correct me if I'm wrong).

What does PREM need to do to fulfill any work obligations within these 3 years and is there any mention of any of the EPO area being explored during the current DFS?

If not now, when is any drilling / sampling of the EPO area likely to take place?

So, with the final results out today, after one moderately successful drill result for S2, is the rest of the Saffron project now shelved until we find another $15m?

What has fundamentally changed since the company reset, and course correction that was supposed to exit 2021 with 1500 BPD?!

Is it just covid that's holding up the Suriname drill?

Confused.

That's a bit of stretch to assume and is a bit like saying your tailor could determine your mineral content and what you had for breakfast, because he can approximate your dimensions with accuracy.

Ironically, if he got a good management team in, he could retire a rich man, on the uplift of the PREM shares that he holds, and never need to work again.

Plenty of time to enjoy the game lodge and maybe a little private investment in some mining projects that may never produce anything.

Opposition party did win:

https://www.reuters.com/world/americas/bahamas-head-polls-close-election-overshadowed-by-covid-19-2021-09-16/

Hopefully the prospects for P2 will improve, as a result of the party that issued the original exploration licenses getting back into power.

The General election in the Bahamas has been brought forward from May 2022 to 16th September 2021.

It goes without saying that it would be a major advantage to CEG, if the opposition Party (PLP) was elected. PLP issued the original exploration / drilling licenses.

Even if the current FNM part is re-elected, they might be more inclined to advance the drilling (farm-in prospects), having secured the next few years in power.

https://www.nationnews.com/2021/08/19/bahamas-pm-announces-september-16-general-election-date/

Re-entering P1?

Is this even possible to drill a further 1000m within the same well, if it was never designed to be drilled this deep?

My understanding is that the well bore is drilled in progressively smaller bore sizes, before casing and drilling deeper. If the well currently terminates at 6" diameter, is a significantly deeper drill still possible? Anyone with the relevant industry knowledge care to chime in?

I disagree with the reason you gave for the envionmentalists 'giving up' the legal challenge, after being assured of no future drilling by the Bahamas government. That is highly speculative and baseless.

The environmental group never lodged the security deposit. We only have their word for it that they ever raised the $200k. Evidence of the pitiful financial support for the legal challenge was laid bare for all to see on their public funding campaign, which closed prematurely. Didn't they raise something like $2000?

The legal challenge ultimately failed, but it had dire financial consequences for CEG. I hope the BOD are seeking advice over whether to counter-sue the environmental group for damages.

I bought 2.5m shares within 10 minutes of the EPO RNS landing. The price at the time was between 0.4 - 0.5p
The SP has collapsed over 50% since the EPO RNS was released. All the gains were to be had before the official RNS landed.

Tungsten prices 5 years ago (2016) fell to $148 / metric ton, down from $302 in $2015.
Why would RHA be any different now? - Tungsten is back above $300 / ton.
https://www.statista.com/statistics/1009446/tungsten-price/